Texas Genco Holding's $1.15 billion "B" loan traded actively around 101 3/8-101 5/8 last week. "It's a huge deal, the market likes the asset coverage," a trader said. Texas Genco's "B" loan is part of a financing that backed the $3.65 billion acquisition of Texas Genco Holdings by The Blackstone Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co. and Texas Pacific Group (LMW, 10/18). Goldman Sachs and Morgan Stanley are joint lead arrangers, while Deutsche Bank and Citigroup served acted as bookrunners. The credit also comprises a $325 million revolver, a $200 million letter of credit facility, a $344 million special letter of credit facility and a $475 million delayed-drawn "B" loan. The investor group formed affiliate GC Power Acquisition to purchase the company.
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||8,264||27||10.34|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||94,721.79||272||8.82%|
|4||Wells Fargo Securities||82,807.12||240||7.71%|