Homebuilder Scores Lighter Covenants On Bonds

Homebuilder Beazer Homes USA has snared looser covenants on its $300 million unsecured notes offering than an offering it did in 2006 when it had better credit ratings at the height of the housing boom.

  • 05 May 2010
--Sara Rosner

Homebuilder Beazer Homes USA has snared looser covenants on its $300 million unsecured notes offering than an offering it did in 2006 when it had better credit ratings at the height of the housing boom. “Covenant levels in 2006 and 2007 were pretty loose and what you’re ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,823 26 18.14
2 Bank of America Merrill Lynch (BAML) 8,207 26 10.77
3 Lloyds Bank 7,202 22 9.45
4 Citi 6,256 16 8.21
5 JP Morgan 5,220 8 6.85

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 105,474.10 301 10.96%
2 Bank of America Merrill Lynch 86,762.28 250 9.02%
3 JPMorgan 81,465.60 238 8.47%
4 Wells Fargo Securities 77,934.65 225 8.10%
5 Credit Suisse 63,570.21 165 6.61%