Lehman, Goldman Lead $900M Car Rental Deal

Lehman Brothers and Goldman Sachs are leading a $900 million facility for Vanguard Car Rental USA. Citigroup is a joint bookrunner.

  • 29 Jul 2005
Email a colleague
Request a PDF

Lehman Brothers and Goldman Sachs are leading a $900 million facility for Vanguard Car Rental USA. Citigroup is a joint bookrunner. The credit consists of a five-year, $175 million revolver and a six-year, $725 million term loan "B." Pricing on the facility is expected to be in the LIBOR plus 4 1/2% area on both tranches. The facility refinances existing debt and pays a dividend to sponsor, Cerberus Capital Management.

Based in Tulsa, Okla., Vanguard operates National Car Rental and Alamo Rent A Car. Vanguard bought National Car Rental and Alamo from ANC Rental Corp. in October 2003.

A spokesman for Vanguard declined comment. A call to Cerberus was not returned.

  • 29 Jul 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 801.51 2 13.30%
2 Citi 783.55 4 13.01%
3 Wells Fargo Securities 606.78 3 10.07%
4 Credit Suisse 534.82 2 8.88%
5 SG Corporate & Investment Banking 497.64 2 8.26%