Atkins Sinks To New Depths

Atkins Nutritionals' $215 million first lien dropped to the mid-70s, while the $78.5 million second lien fell into the mid-40s.

  • 18 Mar 2005
Email a colleague
Request a PDF

Atkins Nutritionals' $215 million first lien dropped to the mid-70s, while the $78.5 million second lien fell into the mid-40s. A trader said a negative lender call has put downward pressure on the price. These are the lowest levels since sponsors Parthenon Capital and GS Capital Partners bought the company in November 2003. UBS leads the bank loans.

An Atkins' spokesman declined to comment on issues related to the bank debt and would only say, "We are going forward." When asked if Atkins would file for bankruptcy, he said it was the first time he had heard that in North America.

A month ago Atkins' first and second lien slumped to 83-85 and 61-65, respectively, after a lender call in which the private-equity firms signaled they would not contribute more equity to the company (LMW, 2/21). Atkins' first and second-lien loans are priced at LIBOR pus 3 1/4% and LIBOR plus 5 3/4%.

  • 18 Mar 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 104,581.71 299 10.92%
2 Bank of America Merrill Lynch 86,347.40 249 9.02%
3 JPMorgan 80,990.39 237 8.46%
4 Wells Fargo Securities 77,934.65 225 8.14%
5 Credit Suisse 63,570.21 165 6.64%