Coal Buyout Hits Mart

A bank meeting was held last Wednesday to begin syndication of a $785 million credit for Foundation Coal Corp.

  • 25 Jun 2004
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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.

  • 25 Jun 2004

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 %
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1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%