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 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

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3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%