Earnings Carry Nextel Higher

  • 23 Feb 2003
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Nextel Communications' bank debt ran up about two points and then settled back down as "B" and "C" pieces traded between 95-96 after the company earnings report signaled a strong year ahead. "They just reiterated what they've been telling people for the last two months," noted one buysider, adding that there was no bad news. The paper settled in the 94 1/2 ­ 95 1/2 context after a number of investors selling on the way up put pressure on the price. The tremendous supply will limit how far this one can trade up, noted one dealer.

The company reported a domestic EBITDA of $3.13 billion, which marks an increase of about 67% in 2002 compared to 2001. Going forward, the company projected strong results in 2003 as well, estimating more than $3.8 billion of EBITDA. Net subscribers were a little low but they were offset by a low churn rate for the company's services, commented one dealer. Paul Saleh, Nextel's cfo, could not be reached by press time.

  • 23 Feb 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 104,581.71 299 10.94%
2 Bank of America Merrill Lynch 86,347.40 249 9.04%
3 JPMorgan 80,990.39 237 8.47%
4 Wells Fargo Securities 77,934.65 225 8.15%
5 Credit Suisse 63,570.21 165 6.65%