GenTek Debt Changes Hands

  • 16 Mar 2003
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GenTek's bank debt was fairly active last week with the company's pro rata trading in the 56-57 context and its term loan moving in the 53-55 range. "It felt like there were better buyers over the last couple of days," noted one trader. The company has recently obtained a $60 million debtor-in-possession facility. It filed for bankruptcy in October after it failed to obtain an amendment to its senior credit facility.

The new DIP facility is said to relieve the pre-petition lenders from certain obligations they had regarding letters-of-credit. The company also recently received an extension to the exclusive period during which it can file a plan of reorganization. Calls to Matthew Friel, v.p. and cfo, were referred to a spokeswoman, who did not return calls by press time.

 

  • 16 Mar 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,823 26 18.14
2 Bank of America Merrill Lynch (BAML) 8,207 26 10.77
3 Lloyds Bank 7,202 22 9.45
4 Citi 6,256 16 8.21
5 JP Morgan 5,220 8 6.85

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 105,474.10 301 10.96%
2 Bank of America Merrill Lynch 86,762.28 250 9.02%
3 JPMorgan 81,465.60 238 8.47%
4 Wells Fargo Securities 77,934.65 225 8.10%
5 Credit Suisse 63,570.21 165 6.61%