Credit Suisse Pilots Boart Credit

Credit Suisse is the sole lead on a $1.395 billion credit facility for Boart Longyear that is set to launch Tuesday.

  • 08 Sep 2006
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Credit Suisse is the sole lead on a $1.395 billion credit facility for Boart Longyear that is set to launch Tuesday. The deal consists of a five-year, $125 million revolver; a one-and-a-half-year, $320 million capital markets term loan; a six-year, $650 million term loan "B" and a seven-year, $300 million second-lien term loan. Price talk on the first lien is between LIBOR plus 2 3/4-3% and LIBOR plus 6 1/2% on the second lien.

Boart is currently owned by Advent International and Bain Capital. Macquarie Bank will be joining the investor group in October, according to a release. Boart last tapped the market in October for an amended and restated credit facility led by UBS. At launch that deal consisted of a $500 million first-lien term loan priced at LIBOR plus 3% and a $75 million second-lien term loan priced at LIBOR plus 7% (CIN, 10/28/05).

Salt Lake City, Utah-based Boart Longyear is a supplier of products, systems and services to natural resource industrial markets worldwide. Calls to spokesmen at Boart and Bain Capital were not returned. Representatives from Advent and Macquarie could not be reached by press time.

  • 08 Sep 2006

GlobalCapital European securitization league table

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 120,318.45 348 12.81%
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3 Wells Fargo Securities 88,516.28 265 9.42%
4 JPMorgan 69,240.12 209 7.37%
5 Credit Suisse 51,378.45 156 5.47%