Texas Genco Trades Over Par

Texas Genco Holding's $1.15 billion "B" loan traded actively around 101 3/8-101 5/8 last week.

  • 07 Jan 2005
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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.

  • 07 Jan 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,818.31 235 11.64%
2 Bank of America Merrill Lynch 65,088.22 185 9.37%
3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%