Cable Levels Fall With Injured Brother Adelphia

  • 07 Apr 2002
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Adelphia Communications' bank debt fell last week with a couple of $2.5 million pieces trading in the 96 range following new reports that the company's off-balance sheet debt may be larger than previously believed. Early last Wednesday, dealers quoted the name in the 95 1/2 ­ 97 context. The company also announced that the Securities and Exchange Commission is conducting an informal inquiry into the matter. Calls to Jim Brown, company v.p of finance, were referred to a spokeswoman who did not return calls by press time.

Other cable names traded off in Adelphia's wake, dealers said. Insight Communications and Mediacom Communications ticked down to 100 1/4 from 100 3/4 with $2.5 million pieces of both names changing hands in the street. Charter Communications also slumped with a $ 2.5 million piece trading at the 96 1/2 level. Traders said that bids sank as low as 95 1/2 last week, but priced in the market in the 96 1/4 to 96 3/4 context. Officials at the companies could not be reached by press time.

  • 07 Apr 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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1 Citi 117,398.62 338 11.04%
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3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%