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 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%