Solo Citi Seeks Commitments For Sugar Land Tech Co

  • 22 Apr 2001
Email a colleague
Request a PDF

Citigroup, acting as sole arranger, syndication and administration agent, is seeking commitments of at least $35 million for a $175 million refinancing for K*TECH Electronics, a contract electronics manufacturing company based in Sugar Land, Texas. A banker close to the deal noted that a conference call two weeks ago kicked off the syndication process, but it could not be determined whether commitments have been raised.

The loan is a revolving credit priced at LIBOR plus 3% and is intended to provide working capital. It is open as a wholesale tier initially, though at a later stage could be open to retail players looking for smaller chunks, noted a banker. The credit, fully secured against K*TECH's assets, is a borrowing-based deal, he added. It is expected to close in three weeks, he noted.

Ted Ainsworth, cfo for K*TECH, referred calls to officials at Thayer Capital, a private equity investment firm based in Washington, D.C., that purchased K*TECH this month and is acting as primary sponsor. Officials at Thayer did not return calls. Citigroup was chosen following a request for proposals, said the banker, declining to name the other banks considered.

  • 22 Apr 2001

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

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,261.11 236 11.52%
2 Bank of America Merrill Lynch 66,433.81 187 9.42%
3 Wells Fargo Securities 57,637.40 170 8.17%
4 JPMorgan 53,570.42 158 7.59%
5 Credit Suisse 45,349.30 117 6.43%