Merrill Markets Cookie Loan

Merrill Lynch is in the market with a seven-year, $170 million term loan for Otis Spunkmeyer.

  • 26 Aug 2005
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Merrill Lynch is in the market with a seven-year, $170 million term loan for Otis Spunkmeyer. The loan is priced at LIBOR plus 2 3/4%. The deal refinances the cookie company's existing $150 million term loan, which has $132.5 million outstanding. It is expected to close in the next week or two.

Moody's Investors Service assigned a B1 ranking to the deal, saying the company is supported by its dominant position in the frozen cookie dough category but has high operation leverage, reflecting 100% leased distributing and manufacturing facilities. It had about $305 million in net sales for the 2004 fiscal year. Ahmad Hamade, cfo, declined to comment.

  • 26 Aug 2005

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) 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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 120,318.45 348 12.81%
2 Bank of America Merrill Lynch 99,988.41 288 10.64%
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%