Securitization People and Markets

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

At least $1.75 billion in tickets were in late last week for the $850 million "B" tranche for the deal backing the $3 billion merger between Riverwood Holdings and Graphic Packaging International Corp. The tranche had about $1 billion in tickets after the June 5 meeting, in which some investors had bid for pieces of the loan even before syndication launched. A banker familiar with the deal said it was possible that the tranche size could be increased, but that was not definite. J.P. Morgan, Deutsche Bank, Goldman Sachs, Morgan Stanley, Credit Suisse First Boston and Citigroup lead the $1.6 billion acquisition and refinancing credit, which also includes a $400 million revolver and a $350 million "A" loan. Morgan Stanley, Deutsche Bank, CSFB, J.P. Morgan and Goldman officials declined to comment. Citi bankers did not return calls.

Lehman Brothers and Deutsche Bank last week hit the market with a $150 million credit for travel reservation data company Worldspan. The deal backs the acquisition of Worldspan by Travel Transaction Processing Corp., a company formed by Citigroup Venture Capital Equity Partners--a private equity fund managed by Citigroup Venture Capital--and Teachers' Merchant Bank, the private equity arm of Ontario Teachers' Pension Plan. The two entities are buying the Atlanta-based company from affiliates of Delta Air Lines, Northwest Airlines and American Airlines.

Tabletop aspartame sweetener company Merisant will be coming to market tomorrow with a $320 million recapitalization deal led by Credit Suisse First Boston. The credit includes a $240 million, six-and-a-half-year "B" loan, a $40 million, five-and-a-half-year revolver and a E40 million, five-and-a-half-year "A" tranche. A banker familiar with the deal could would not cite price talk for the deal as of late last week, but the company's existing credit put in place in 2000 is priced between LIBOR plus 23/4-31/4%. The existing credit includes a $199.5 million "B" loan, a $70 million add-on term loan, a $150 million "A" piece, a $65 million mezzanine tranche and a $50 million revolver, according to LoanX.