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 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,913.87 69 10.85%
2 JPMorgan 19,191.71 52 9.96%
3 Bank of America Merrill Lynch 18,245.19 58 9.47%
4 Wells Fargo Securities 16,837.21 50 8.74%
5 Barclays 13,965.64 46 7.25%