LOANS LEVERAGED LOANS
)NûADDITIONûTOûTHEûLOANûTHEûCOMPANYûISû
EXPECTEDûTOûSELLû53BNûOFûHIGH
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,IFE0OINTûWILLûBEûMERGEDûWITHû!POLLO
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)NVESTMENTSûANDûANûAFlLIATEûOFûTHEû1ATARû
)NVESTMENTû!UTHORITYûALSOûAGREEDûTOûBACKû
the deal with debt.
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TOûBACKûAûDISTRIBUTIONûTOûSHAREHOLDERS
#LAYTONû$UBILIERûû2ICEûCOMPLETEDûEARLIERû
THISûYEARûTHEûACQUISITIONûOFûAûûOWNERSHIPû
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HAVEûûSOFTûCALLûPROTECTIONûFORûSIXûMONTHS
4HEûGLOBALûCOORDINATORSûAREûBank of America
Merrill Lynch and JP MorganûANDûTHEûJOINTû
arrangers are BNP Paribas and INGû*0û-ORGANû
ISûTHEûADMINISTRATIVEûAGENT
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"A""
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4HEûlRST
LIENûISûGUIDEDûATûBP
BPûOVERû
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û/)$û
)TûWILLûHAVEûûûHARDûCALLûPROTECTION
JP Morgan is leading the deal.
)Nû3EPTEMBERû8/û'ROUPûWHICHûOPERATESû
WEDDINGûWEBSITEû4HEû+NOTûANNOUNCEDûITû
would merge with WeddingWire and
BECOMEûAûPRIVATELYûHELDûCOMPANYûINûAû
TRANSACTIONûVALUEDûATû53Mû!TûCLOSINGû
THEûCOMBINEDûCOMPANYûWILLûBEûOWNEDûBYû
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WeddingWire.
SEDGWICK SEEKS US$2.34bn TL
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BACKû#ARLYLEû'ROUPSûACQUISITIONûOFûTHEû
MAJORITYûOFûTHEûCOMPANY
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BPûOVERû
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Bank of America Merrill Lynch, KKR, Morgan
Stanley and SunTrust are arranging the
lNANCING
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.OVEMBERû
#ARLYLEûANNOUNCEDûINû3EPTEMBERûTHATûITû
HADûAGREEDûTOûBECOMEûAûMAJORITYûOWNERûOFû
3EDGWICKûINûAûTRANSACTIONûVALUEDûATûABOUTû
53BNû#URRENTûMAJORITYûSHAREHOLDERû++2û
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3TONEû0OINTû#APITALûANDû#AISSEûDEûDEPOTûETû
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MANAGEMENTûWILLûREMAINûMINORITYûINVESTORS
2OOlNGûCOMPANYûTECTA AMERICA is
ARRANGINGû53MûOFûLOANSûTOûBACKûITSû
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Credit Suisse is leading with UBS and Royal
Bank of Canada.
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SEVEN
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SECOND
LIENûLOANûWILLûHAVEûHARDûCALLû
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LIENû
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LIENû
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2ETAILERûTALBOTSûHASûLAUNCHEDûAû53Mû
lVE
YEARûCOVENANT
LITEûTERMûLOANûTHATûWILLû
RElNANCEûEXISTINGûlRST
LIENûANDûSECOND
LIENû
term loans.
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)TûWILLûHAVEûAûNON
CALLûPROVISIONûFORûTHEû
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and then par.
Bank of America Merrill Lynch and KKR Capital
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ûANDû
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MKS LINES UP US$650m FOR BUY
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EDGEWATER GENERATION is arranging a
53MûTERMûLOANûTOûSUPPORTûITSû
ACQUISITIONûBYû3TARWOODû%NERGY
Credit Suisse ISûLEADINGûTHEûSEVEN
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COVENANT
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turbines.
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BYûJefferies.
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"ûTHATûISûFUNGIBLEûWITHûANûEXISTINGûLOANûTHATû
MATURESûINû&EBRUARYû
4HEûDEALûISûGUIDEDûATûBPûOVERû,IBORû
WITHûAûû/)$
Bank of America Merrill Lynch, RBC, Jefferies
and Nomura are arranging the loan.
0ROCEEDSûOFûTHEûlNANCINGûWILLûBEûUSEDûTOû
FUNDûACQUISITIONSûUNDERûSIGNEDûLETTERSûOFû
INTENTûRElNANCEûREVOLVERûBORROWINGSûANDû
FUNDûCASHûTOûBALANCEûSHEETûFORûFUTUREû
ACQUISITIONS
!DDITIONALLYû.6!ûISûSEEKINGûANû
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WHICHûWILLûREQUIREûEXISTINGûLENDERûCONSENTS
#ORPORATEûFAMILYûRATINGSûAREû""ûANDûlRSTû
LIENûRATINGSûAREû""
CELESTICA SETS PRICE TALK
%LECTRONICûCOMPONENTSûMANUFACTURERûANDû
designer CELESTICAûHASûSETûPRICEûTALKûONûAû
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4HEûDEALûISûGUIDEDûATûBPûOVERû,IBORûANDû
HASûAû
û/)$
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*UNEûûHASûûSOFTûCALLûPROTECTIONûFORûSIXû
months.
0ROCEEDSûWILLûBEûUSEDûTOûlNANCEûTHEû
53MûACQUISITIONûOFû)MPAKTû(OLDINGSû
PAYûRELATEDûFEESûANDûEXPENSESûANDûFORû
GENERALûCORPORATEûPURPOSES
US LEVERAGED LOANS
BOOKRUNNERS: 1/1/2018 TO DATE
Managing No of Total Share
bank or group issues US$(m) (%)
1 BAML 541 113,200.90 10.2
2 JP Morgan 501 112,104.77 10.1
3 Wells Fargo 380 86,897.36 7.8
4 Barclays 273 64,453.51 5.8
5 Goldman Sachs 264 57,141.78 5.1
6 Credit Suisse 259 55,932.24 5.0
7 Citigroup 233 51,277.40 4.6
8 Deutsche Bank 238 50,276.78 4.5
9 RBC 221 41,526.26 3.7
10 Morgan Stanley 175 39,399.80 3.6
Total 1,982 1,109,782.52
Excluding Project Finance.
Source: Refinitiv SDC code: P2