Bronfman Mandates Banks

A group of banks have provided financing to back the $2.6 billion acquisition of Time Warner's Warner Music Group by an investor group led by Thomas H. Lee Partners, Edgar Bronfman Jr.'s Lexa Partners, Bain Capital and Providence Equity Partners. Lexa Partners is a venture capital group of which Bronfman is the ceo.

  • 01 Dec 2003
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A group of banks have provided financing to back the $2.6 billion acquisition of Time Warner's Warner Music Groupby an investor group led by Thomas H. Lee Partners, Edgar Bronfman Jr.'s Lexa Partners, Bain Capital and Providence Equity Partners. Lexa Partners is a venture capital group of which Bronfman is the ceo.

The bank group consists of Bank of America, Deutsche Bank, Lehman Brothers and Merrill Lynch. Reportedly, the investor group will put up about $1.35 billion of equity and use debt for the rest of the deal. Thomas Lee will put up about $600 million, Bain $3 million, Bronfman $2 million and Providence Equity $1 million. According to one banker, B of A and Deutsche Bank will be co-arrangers on the bank deal, with Lehman and Merrill on the right of the transaction. The banker said the final structure, in terms of bank debt and bond split, was still being worked out as LMW went to press in the holiday-shortened week. Scott Sperling, managing director of Thomas Lee, and representatives from Warner Music Group did not return calls. Officials at the banks did not return calls by press time.

 

  • 01 Dec 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%