BNP Looking For Smart & Final Lenders

  • 07 Oct 2001
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BNP Paribas is looking for commitments in exchange for tier one titles and early-bird upfront fees ahead of an Oct. 22 bank meeting that will be held in Los Angeles for a $150 million revolver for Smart & Final. A company official said BNP Paribas was chosen to lead the deal after the food company talked to several banks. "Smart & Final was impressed with the team though pricing is always an issue as well," he said. There was a wide range of scenarios quoted by the banks interviewed, probably because of the uncertainty of the market, said the source. One was 1/4% lower, others were 1/2% or 3/4% higher.

The revolver replaces the existing three-year facility that matures in November this year, according to a BNP official. Pricing is based on a grid and starts at LIBOR plus 21/ 2% out of the blocks with a 1/2% commitment fee. Pricing has been increased 1/4% relative to the existing deal. The Smart & Final employee said it is a tough market right now, but the company has good ties with its bank syndicate and the business is not highly GDP sensitive, with people still needing to eat.

  • 07 Oct 2001

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%