CSFB Preps True Temper LBO...

Credit Suisse First Boston will launch syndication tomorrow of the $130 million facility backing management and Gilbert Global Equity Partners' acquisition of True Temper Corp. from Cornerstone Equity Investors.

  • 20 Feb 2004
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Credit Suisse First Boston will launch syndication tomorrow of the $130 million facility backing management and Gilbert Global Equity Partners' acquisition of True Temper Corp. from Cornerstone Equity Investors. The facility comprises a five-year, $20 million revolver and seven-year, $110 million "B" loan. Pricing on the deal could not be determined. The purchase price is reportedly $284 million or around eight times the company's 2003 EBITDA.

Cornerstone acquired True Temper in 1998 and the business had about $125 million of debt outstanding as of September 2003. True Temper is the parent company of True Temper Sports, which manufactures golf shafts. Gilbert and True Temper officials could not be reached by press time and Cornerstone officials declined comment.

 

  • 20 Feb 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 80,818.31 235 11.64%
2 Bank of America Merrill Lynch 65,088.22 185 9.37%
3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%