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 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 9,113.97 30 12.52%
2 Barclays 7,732.29 21 10.62%
3 Bank of America Merrill Lynch 7,473.95 24 10.26%
4 JPMorgan 7,225.34 25 9.92%
5 Wells Fargo Securities 6,258.35 24 8.59%