Coutu 'B' Loan Hits Mart

Syndication launched last week for the $1.1 billion term loan backing The Jean Coutu Group's acquisition of the Northeast and mid-Atlantic Eckerd Corp. stores.

  • 02 Jul 2004
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Syndication launched last week for the $1.1 billion term loan backing The Jean Coutu Group's acquisition of the Northeast and mid-Atlantic Eckerd Corp. stores. The institutional lender meeting was held last Wednesday. Bankers are waiting for ratings to determine pricing, but are initially guiding to the LIBOR plus 2 1/2-3/4% range. Deutsche Bank, Merrill Lynch and National Bank of Canada are leading the credit, which also includes a $350 million revolver and $250 million "A" loan.

Two weeks ago the lead banks signed on six managing agents on the pro rata, each taking $70 million tickets. The agent banks are Bank of Montreal, Bank of Nova Scotia, BNP Paribas, Royal Bank of Canada, Toronto Dominion Bank and Caisse de Depot. A retail meeting was held last Tuesday in Montreal, where $15-20 million tickets were offered. A Jean Coutu spokeswoman did not return calls. Deutsche Bank and Merrill bankers either did not return calls or declined comment.

 

  • 02 Jul 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%