Duo Preps Oriental Trading Dividend

BNP Paribas and Credit Suisse First Boston will launch a bank deal backing a dividend recapitalization for Brentwood Associates portfolio company Oriental Trading Co. in the coming weeks.

  • 01 Dec 2003
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BNP Paribas and Credit Suisse First Boston will launch a bank deal backing a dividend recapitalization for Brentwood Associates portfolio company Oriental Trading Co. in the coming weeks. A banker said there will be a $25 million increase to the existing first-lien loan and a new $75 million second-lien loan added to fund the dividend. "The company is beating [its] numbers and there is the opportunity to do this," a banker said.

Oriental Trading already has a seven-year $2 million "B" loan, put in place during a recapitalization in the summer (LMW, 7/13). There is likely to be some increase to the current first-lien pricing of LIBOR plus 2 3 / 4 %, one banker added, but there are no specifics at this stage. Officials at Brentwood did not return calls and bankers at the two leads declined comment.

 

  • 01 Dec 2003

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 118,624.20 342 12.98%
2 Bank of America Merrill Lynch 99,769.11 286 10.92%
3 Wells Fargo Securities 86,271.10 256 9.44%
4 JPMorgan 67,323.36 205 7.37%
5 Credit Suisse 49,265.86 144 5.39%