Merisant To Sweeten Market With Recap

  • 15 Jun 2003
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Tabletop aspartame sweetener company Merisant will be coming to market tomorrow with a $320 million recapitalization deal led by Credit Suisse First Boston. The credit includes a $240 million, six-and-a-half-year "B" loan, a $40 million, five-and-a-half-year revolver and a E40 million, five-and-a-half-year "A" tranche. A banker familiar with the deal could would not cite price talk for the deal as of late last week, but the company's existing credit put in place in 2000 is priced between LIBOR plus 23/4-31/4%. The existing credit includes a $199.5 million "B" loan, a $70 million add-on term loan, a $150 million "A" piece, a $65 million mezzanine tranche and a $50 million revolver, according to LoanX.

Deutsche Bank leads the existing credit, while CIBC World Markets is an agent on the current deal. It could not be confirmed if Deutsche Bank and CIBC are involved in the new credit facility. Merisant was formed in 2000 when firms including Pegasus Capital Advisors, MSD Capital and Brener International Group bought the tabletop operations from agricultural product company Monsanto.

  • 15 Jun 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

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1 Citi 119,693.92 344 12.91%
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3 Wells Fargo Securities 88,155.55 263 9.51%
4 JPMorgan 69,113.88 208 7.46%
5 Credit Suisse 51,260.05 154 5.53%