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 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,542.69 67 10.85%
2 JPMorgan 18,820.53 50 9.94%
3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%