Hartz Attempts Second Bite

  • 06 May 2001
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UBS Warburg and BNP Paribas have scheduled a bank meeting for May 9 to launch a $160 million reworked credit to finance J.W. Childs Associates' acquisition of The Hartz Mountain Corporation. The attempted deal is the second throw of the dice following a failed syndication at the end of last year for the Secaucus, N.J.-based pet products business.

The deal is structured as a $35 million, five-year senior revolving credit facility and a $125 million seven-year senior amortizing term loan. The facilities are secured by a first-priority lien on substantially all of the tangible and intangible assets of the borrower and guarantor. Pricing will be LIBOR plus 31Ž 2% on the revolver, with a 50 basis points commitment fee, and LIBOR plus 4% on the term loan. An official with Hartz, commented that the previous syndication was struck by bad timing and that the banks and terms of the deal are similar. Covenants are standard, he noted. BNP and UBS agreed to do a fund-alone deal with the sponsors, he said, adding that syndication should be completed towards the end of May.

  • 06 May 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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%