BNP Paribas and First Union's $400 million credit for Hyatt has received approximately $300 million in commitments, including $50 million pieces from First Union, BANK ONE and Firstar Bank. J.P. Morgan Chase, the documentation agent, has also committed $75 million, noted a banker. BNP Paribas is syndication agent and First Union is administration agent for the deal, split between a three-year, $300 million tranche and a 364-day, $100 million tranche. All-in drawn pricing is tied to a grid opening at LIBOR plus 70 basis points. Commitment fees for $35 million and $25 million pieces get 20 basis points and 17.5 basis points, respectively. Officials at First Union and BNP Paribas declined to comment. Calls to officials at Hyatt were not returned.
Read the magazine on your mobile device
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,901||20||10.32|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Wells Fargo Securities||68,611.22||170||11.38%|
|2||Bank of America Merrill Lynch||59,056.08||169||9.80%|