Tenaska LCDS Spark Up

A newer name has seen a lot of loan-only credit defaults trade.

  • 12 Jan 2007
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A newer name has seen a lot of loan-only credit defaults trade. Tenaska, which came to market in December, has become active, trading around 125-130. "It hasn't traded before; it's just a new name to add to the space," one trader said. Its term loan was trading around 100.525-100.852, according to Markit.

Credit Suisse and Goldman Sachs lead the deal for the Omaha, Neb., power company. The $1.645 billion of loans back Tenaska's acquisition of generation assets from Constellation Energy. At launch, the deal consisted of a five-year, $50 million revolver; a seven-year, $250 million special letters of credit facility; a seven-year, $850 million term loan "B" and an eight-year, $495 million second-lien term loan (CIN, 12/1). A spokeswoman declined comment.

  • 12 Jan 2007

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%