Boston Gen Credit Flexed Down

The first lien of Boston Generating's $2.1 billion credit facility was flexed down 75 basis points last week, according to an investor.

  • 15 Dec 2006
Email a colleague
Request a PDF

The first lien of Boston Generating's $2.1 billion credit facility was flexed down 75 basis points last week, according to an investor. Price talk was originally LIBOR plus 3% on the first lien and LIBOR plus 5% on the second lien (CIN, 12/8). A reason for the pricing change could not be determined.

Led by Credit Suisse and Goldman Sachs, the deal consists of a five-year, $70 million revolver; a seven-year, $250 million synthetic letter of credit; a seven-year, $1.08 billion "B" term loan; a seven-and-a-half-year, $400 million second-lien term loan and a ten-year, $300 million holdco mezzanine tranche (12/8). Originally launched Dec. 4, buysiders felt it was a good deal and a good company.

Boston Generating is owned by EGB Holdings and K-Road Ventures. Calls to spokesmen for both were not returned.

  • 15 Dec 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 10,917.09 37 12.45%
2 Bank of America Merrill Lynch 10,011.21 29 11.41%
3 Barclays 8,176.97 25 9.32%
4 JPMorgan 7,602.76 28 8.67%
5 Wells Fargo Securities 6,773.29 27 7.72%