Market Welcomes $775 Mln LBO Credit

  • 11 Feb 2001
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Institutional players are reportedly eating up last week's launch of Credit Suisse First Boston and Deutsche Bank's $775 million loan backing AEA Investors and DLJ Merchant Banking's leveraged buyout of B.F. Goodrich's chemical business, Performance Materials. One banker added that bankers expect the deal to be oversubscribed as a conservative structure has made the institutional tranches very appealing to the market.

The deal comprises a six-year, $140 million revolver, a six-year $225 million term loan "A", and a six-year, $410 million term loan "B". The revolver and term loan "A" pieces, which will be tied to debt grids, are expected to price at LIBOR plus 3%. The term loan "B" piece is expected to price at LIBOR plus 31⁄2%. There is a 50 basis points commitment fee on the deal.

  • 11 Feb 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 %
  • Last updated
  • Today
1 Citi 1,505.59 4 23.86%
2 SG Corporate & Investment Banking 1,292.64 1 20.48%
2 Rabobank 1,292.64 1 20.48%
4 BNP Paribas 598.25 2 9.48%
5 TD Securities Inc 241.54 1 3.83%