Duo To Shop Ethyl Refi

  • 30 Mar 2003
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Credit Suisse First Boston and UBS Warburg will be pitching a $165 million refinancing deal for Ethyl Corp. this Wednesday. The credit includes a six-year, $115 million "B" loan with pricing that has yet to be determined. There is also a five-year, $50 million revolver. The facility will refinance the petroleum-additive company's existing credit that is currently priced in the LIBOR plus 3% range. The Richmond, Va.-based company received a one-year extension earlier this month on a $205 million loan originally scheduled to mature today. Bank of America leads the existing deal. CSFB and UBS bankers did not return calls.

In 2002, the company reduced interest expenses by reducing debt by $45.9 million. The company's total debt as of last December was $290 million. Additionally, Ethyl completed the sale of its antioxidant business to Albemarle Corp. in January, advancing the company's efforts to reduce debt and focus more on its core businesses. Calls to David Fiorenza, v.p. and treasurer of Ethyl, were not returned by press time.

  • 30 Mar 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 81,261.11 236 11.59%
2 Bank of America Merrill Lynch 66,338.04 186 9.46%
3 Wells Fargo Securities 56,344.19 164 8.03%
4 JPMorgan 53,381.65 156 7.61%
5 Credit Suisse 44,872.46 115 6.40%