New Emmis Communications Deal Trades Above Par

  • 21 Jan 2001
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A $2 million piece of Emmis Communications' "B" tranche traded at 1001/4 last week, with dealers describing it as a strong credit. A trader added that the quotes are between 1001/8 to 100 3/8. One market watcher noted there was a large pool of buyers supporting the credit. The Indianapolis, Ind.-based company owns and operates more than 20 radio stations in New York City, Los Angeles, and Chicago as well as two radio networks. It most recently bought Lee Enterprises for $500 million. A company spokeswoman did not return calls seeking comment.

Just two weeks ago dealers were wondering about the credit as a company spokeswoman confirmed a shift that moved $250 million of the pro rata to the term loan "B." The move has not hurt interest in the secondary market. "Maybe there was just too much pro-rata," one trader said of the credit's spin in the primary market. Toronto-Dominion Securities leads the deal. Bank officials could not be reached for comment by press time. First Union Bank, Credit Suisse Boston and Fleet Bank are the lead arrangers.

  • 21 Jan 2001

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%