American Seafoods, DaVita "B" Fly On Investor Demand

  • 31 Mar 2002
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Bank of America's $225 million "B" term loan for American Seafoods Group is over two times oversubscribed, while B of A and Credit Suisse First Boston's $800 million DaVita "B" has $1 billion in commitments. A banker said the Seafoods recapitalization is almost complete, with 80% on the pro rata also filled. A meeting was held on March 21 for institutional accounts. The credit consists of a $75 million five-and-a-half-year revolver priced at LIBOR plus 3%, with a 1/2% commitment fee. The $90 million term loan "A" has the same tenor and spread and the "B" is priced at LIBOR plus 31/ 2%. "The original transaction was put in place in January 2000, when Centre Partners Management, members of management and two native Alaskan equity investors purchased the company," explained Scott Perekslis, managing director at Centre Partners (LMW, 3/11).

The DaVita "B" demonstrates the continued strength of healthcare. The company may be bumping up leverage but Rich Whitney, cfo of DaVita was optimistic interest in the name would be strong enough to perhaps cause a flex in pricing (3/25). The "B" is priced at LIBOR plus 31/ 4%, but it could not be ascertained if a flex is on the cards.

  • 31 Mar 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%