BANK ONE Preps Printpack Launch

  • 14 Feb 2002
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BANK ONE is preparing to launch syndication of a $400 million credit for Printpack, an Atlanta-based producer of flexible packaging. The deal is expected to hit the market by the end of the month. The facility will be used to redeem the 9 7/8% notes due in 2004, the 10 5/8% senior subordinated notes due in 2006 and replace the existing credit line, explained Susan Folds, a spokeswoman for Printpack. The existing line, a $188 million facility, was arranged by First National Bank of Chicago. Officials at BANK ONE did not return calls.

The company provides packaging primarily to consumer food companies, explained Folds, who could not provide comment on the spreads, reasons for the refinancing or when the bank meeting is being held. Folds referred questions to Trip Ceitter, treasuer, who could not be reached for comment. Folds said closing of the loan is expected in March.

  • 14 Feb 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

Bookrunners of Global Structured Finance

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1 Citi 80,818.31 235 11.64%
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3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%