IP signs $470m refi deal

International Paper, the US company, has signed a $468m syndicated loan through its Luxembourg-based subsidiary. It used the facility and about $170m of its cash reserves to repay a Eu500m ($640m) term loan maturing in August.

  • 17 Mar 2009

BNP Paribas, Citi and UBS arranged the new deal which has a three year tenor and pays 450bp over Libor at IP’s current rating (Baa3/BBB). The pricing ranges between 250bp (A3/A- or higher) and 650bp (Ba1/BB+ or below).

The three bookrunners each committed $78m. The other lenders are Royal ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,881.49 152 10.77%
2 JPMorgan 41,018.47 115 9.23%
3 Wells Fargo Securities 37,061.63 106 8.34%
4 Bank of America Merrill Lynch 33,629.70 107 7.56%
5 Credit Suisse 28,660.69 86 6.45%