GE Leads Ames DIP

  • 26 Aug 2001
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GE Capital is planning to syndicate a $700 million debtor-in-possession credit line for Ames Department Stores, after the troubled discount retailer filed for Chapter 11 bankruptcy protection. A banker said that the $700 million revolver will be syndicated, though he was unable to provide pricing or a timeframe. GE Capital spokesman John Oliver declined to comment on the loan. Calls to Ames CFO Rolando de Aguiar were referred to a spokeswoman for Ames, who confirmed that GE Capital would be providing a $700 million credit line and Kimco Funding would provide $55 million.   The Ames spokeswoman said the company has received interim approval from the bankruptcy court for its $755 million post-petition financing. The interim approval immediately makes available to the company up to $628 million to acquire merchandise, fund daily operations, pay its associates and retire the existing credit agreements. A hearing on the final approval of the financing is set for Sept. 17, 2001.
  • 26 Aug 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

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1 Citi 120,126.76 346 12.85%
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3 Wells Fargo Securities 88,516.28 265 9.47%
4 JPMorgan 69,113.88 208 7.39%
5 Credit Suisse 51,313.00 155 5.49%