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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,520.50 339 11.05%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%