The credit is structured as a $750 million, two-and-a-half-year revolver, a $350 million, two-and-a-half-year term loan "A" and a $400 million term loan "B." Pricing opens at 31/2% over LIBOR across all tranches. Pro rata pricing is based on a grid linked to the company's leverage for the first six months, and then flips to a performance-based grid linked to earnings before interest, taxation, depreciation and amortization. A banker familiar with the pricing scheme declined to provide the ends of the grid. The "B" tranche will remain fixed.
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Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||8,264||27||10.34|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||94,723.52||272||8.97%|
|4||Wells Fargo Securities||82,597.19||239||7.82%|