Pricing, Structure Out On Granite

  • 11 Feb 2001
Email a colleague
Request a PDF

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 Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%