Adelphia Credit Auctions Up

  • 15 Jun 2003
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A $30 million piece of Adelphia Communications Corp.'s Hilton Head "B" loan was auctioned off in the 82-821/2 range. The buyer and seller of the paper could not be determined. A few dealers believed that the price where the loan traded was a bit aggressive. The paper had been quoted previously in the 80-82 range and it was surprising that a piece of such size could get done on the offered side of that market, noted one dealer.

The Hilton Head facility is one of the facilities to which the Rigas family's co-borrowing arrangements is attached. One trader noted that the loan was "mired in that mess." Vanessa Wittman, Adelphia's cfo, could not be reached by press time.

 

  • 15 Jun 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 94,444.52 266 11.16%
2 Bank of America Merrill Lynch 79,057.17 220 9.35%
3 Wells Fargo Securities 69,655.75 196 8.23%
4 JPMorgan 69,110.65 196 8.17%
5 Credit Suisse 56,930.26 144 6.73%