Domino’s Pizza, Driven Brands tap ABS to refi debt

Domino’s Pizza and Driven Brands have returned the ABS market with whole business deals that will help both issuers pay down existing debt.

  • By Sasha Padbidri
  • 16 Apr 2018

Banks on both deals released guidance on Monday, with the deals pricing mid-week.

Guggenheim and Goldman Sachs, which are leading the $825m Domino’s deal, priced the ‘A-2-I’ notes on Wednesday at 130bp over interpolated swaps, and the ‘A-2-II’ notes at 150bp over.

According to a presale from S&P ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

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