Banks Launch Stage One Of Mammoth Fresenius Loans

Banc of America Securities and Deutsche Bank held a bank meeting last Thursday in Frankfurt to launch syndication of $2.5 billion in pro rata loans for Fresenius Medical Care, the world's largest provider of dialysis products and services.

  • 24 Jun 2005
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Banc of America Securities and Deutsche Bank held a bank meeting last Thursday in Frankfurt to launch syndication of $2.5 billion in pro rata loans for Fresenius Medical Care, the world's largest provider of dialysis products and services. The tranche consists of a five-year, $1 billion revolver and a five-year, $1.5 billion "A" loan, with pricing of LIBOR plus 1 1/2%. A bank meeting will be held in New York on Monday, one lender said. A seven-year term loan "B," that could be as much as $2.5 billion, will launch in the fall.

The financing will back the $3.5 billion acquisition of dialysis-company Renal Care Group. The new loans will also refinance Fresenius' existing debt. This comprises a $750 million revolver and a $450 million "A" loan. Last November Fresenius paid down its institutional debt, comprising a $250 million "D" loan. A Fresenius spokesman could not be reached by press time.

  • 24 Jun 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 18.96
2 BNP Paribas 1,434 4 13.55
3 Goldman Sachs 1,392 3 13.15
4 Barclays 1,097 2 10.37
5 Morgan Stanley 1,094 2 10.34

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 18,193.54 60 11.52%
2 Wells Fargo Securities 16,128.82 45 10.21%
3 JPMorgan 14,420.48 44 9.13%
4 Bank of America Merrill Lynch 14,370.49 47 9.10%
5 Barclays 10,634.97 35 6.73%