J.P Morgan Nears Wrap On Healthcare Deal

  • 15 Apr 2001
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J.P. Morgan Chase has rounded up $2.25 billion on its $2.5 billion credit for Nashville, Tenn.-based HCA-The Healthcare Company. The credit, which will take out existing debt, was launched for syndication April 4. Sun Trust Bank, Citibank, Deutsche Bank and Bank of Novia Scotia reportedly have joined lead arrangers, J.P. Morgan Chase and Bank of America in committing at least $250 million each to the deal. The other banks that have placed commitments could not be identified.

The credit reportedly is structured as a $1.75 billion revolver and $750 million term loan. Pricing is tied to ratings and will open with an all-in-spread of LIBOR plus 1 1/4 %, with a 35 basis points facility fee on the revolving credit. J.P. Morgan Chase is offering 50 basis points for commitments of $150 million. HCA is the largest hospital chain in the U.S., but has had to deal with various lawsuits and fraud charges, including one settled for $745 million for over billing the U.S. government. David Anderson, treasurer for HCA, did not return calls.

  • 15 Apr 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) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%