Pricing, Structure Out On Granite

  • 11 Feb 2001
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Pricing and structure details emerged last week on Goldman Sachs' $205 million credit for Granite Broadcasting. The deal comprises a $110 million term loan "A" tranche and a $95 million "B" tranche. Both pieces are priced at LIBOR plus 51⁄2%, but there is a 12% floor on the deal, a banker said. The floor puts the deal above the 51⁄2% over LIBOR. Goldman expects it to close syndication by the end of the month but is still waiting for other players to come in on the deal.

Up-front fees on the deal are roughly 21⁄2% and there is a $17.5 million interest reserve included on the deal, said the banker. Tranche "A" is secured by seven television stations and tranche "B" is secured by a television property in San Jose and in San Francisco. Granite officials did not return calls.

  • 11 Feb 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) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

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%