Trash Giant Dumps Citi For Merger Financing

Waste management company Republic Services chose Bank of America and JPMorgan to co-lead financing for its merger with Allied Waste Industries, even though the company's existing facility is led by B of A and Citigroup. Ed Lang, v.p. and treasurer of Fort Lauderdale, Fla.-based Republic, said the company left Citi because of "their situation" and chose B of A and JPMorgan because of their strong track records and long-term relationships with the company.

  • 22 Aug 2008
 
 Ed Lang
Waste management company Republic Services chose Bank of America and JPMorgan to co-lead financing for its merger with Allied Waste Industries, even though the company's existing facility is led by B of A and Citigroup. Ed Lang, v.p. and treasurer of Fort Lauderdale, ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
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 8.78

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1 Citi 40,734.72 129 11.29%
2 JPMorgan 32,938.92 93 9.13%
3 Wells Fargo Securities 30,907.51 87 8.57%
4 Bank of America Merrill Lynch 27,917.30 88 7.74%
5 Credit Suisse 22,890.32 71 6.35%