A bank meeting was held last Wednesday to begin syndication of a $785 million credit for Foundation Coal Corp. The loan backs the acquisition of RAG American Coal Holdings by First Reserve Corp., The Blackstone Group and American Metals & Coal International. The deal comprises a five-year, $350 million revolver and seven-year, $435 million "B" loan. Both tranches are being offered at LIBOR plus 2 1/2%. Citigroup and Credit Suisse First Boston are leading the deal with UBS as documentation agent. Citi is administrative agent and CSFB is syndication agent. Bankers from all three banks either did not return calls or declined comment.
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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||8.91%|
|4||Wells Fargo Securities||82,597.19||239||7.77%|