United Defense Debt Gets Hit As Economy Slows

  • 26 Aug 2001
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United Defense Industries' bank debt traded down to 99 5/8 last week in a $5 million trade, down a meager 1/4 from previous levels. The buyer and seller could not be determined. The company, which has a longstanding business relationship with the U.S. Armed Forces, is considered a safe bet even in a slower economy. "There's consistent demand for the industry, and military spending influences what they do," said a dealer. United Defense, based in Arlington, Va., manufactures combat vehicle training systems. Doug Coffey, spokesman, was unaware of the trading levels, but remarked, "That doesn't really affect us. That's the banks' concern." Buzz Raborn, cfo, declined to comment on trading levels. "We just refinanced, so there's nothing to report right now," he said.   The company has an $800 million credit arranged by Deutsche Bank and Lehman Brothers. The deal breaks down into a $200 million revolver and a $500 million term loan "B" and a $100 million term loan "A." This replaces a $725 million credit arranged in 1997 through Lehman, Deutsche Bank and Citicorp.
  • 26 Aug 2001

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%