First Union Launches $200 Mln Dairy Deal

  • 18 Mar 2001
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First Union is in the market with a $200 million credit facility for Dairy Farmers of America, Inc. The 364-day facility replaces the company's existing $175 million, 364-day credit. In addition to the 364-day, the company will amend its $175 million, three-year revolver. Jerry Boss, cfo, said the company needed to increase the credit by $25 million for use as a commercial paper backstop and for other general corporate purposes. "We wanted to add more liquidity," said Boss.

Pricing on the new credit is expected to inch up a bit to LIBOR plus 87.5 basis points if untapped compared to pricing on the old credit, which was LIBOR plus 52.50 basis points. There will be a fee of 12.5 basis points if untapped. "Spreads are just wider than where they used to be," said Boss, explaining that the increased pricing is just a function of market conditions. The bank meeting was held last week.

  • 18 Mar 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) 3,865 12 12.28
2 Citi 2,800 7 8.90
3 Goldman Sachs 2,615 4 8.31
4 Credit Agricole 2,254 6 7.16
5 Barclays 2,006 6 6.38

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 12 Jun 2017
1 Citi 46,714.29 133 12.73%
2 Bank of America Merrill Lynch 43,017.27 121 11.73%
3 Wells Fargo Securities 36,865.83 105 10.05%
4 JPMorgan 25,897.27 79 7.06%
5 Credit Suisse 19,055.29 50 5.19%