JPM, Bear Stearns Shop Chemical Buyout

J.P. Morgan and Bear Stearns launched syndication last Tuesday for a $145 million credit for Resolution Specialty Materials.

  • 25 Jun 2004
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J.P. Morgan and Bear Stearns launched syndication last Tuesday for a $145 million credit for Resolution Specialty Materials. The loan backs Apollo Management's $215 million acquisition of certain businesses and product lines from Eastman Chemical Co. The deal consists of a $30 million revolver and $115 million "B" loan. Price talk is reportedly LIBOR plus 3% on both tranches. The revolver is due in five years, while the term loan matures in six. A J.P. Morgan spokesman, Bear Stearns banker and Apollo spokesman declined comment.

  • 25 Jun 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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%