Total issuance: $2,448.09 in 10 deals
Columns are amounts in millions of dollars, count of deals and percentage by dollar value.
Yield
| 7%-7.99% | 199.60 | 1 | 8.15%
|
| 8%-8.99% | 870.00 | 2 | 35.54%
|
| 9%-9.99% | 698.25 | 3 | 28.52%
|
| 10%-10.99% | 139.76 | 1 | 5.71%
|
| 11%-11.99% | 250.53 | 1 | 10.23%
|
| Over 12% | 289.96 | 2 | 11.84%
|
| Total | 2,448.09 | 10 |
|
|
|
| Pricing versus talk
|
|
|
| Low end | 139.76 | 1 | 5.71%
|
| Towards low end | 199.60 | 1 | 8.15%
|
| Middle | 139.96 | 1 | 5.72%
|
| High end | 250.53 | 1 | 10.23%
|
| Higher | 1,515.00 | 4 | 61.88%
|
| NA | 203.25 | 2 | 8.30%
|
| Total | 2,448.09 | 10 |
|
|
|
| Use of proceeds
|
|
|
| Construction | 139.96 | 1 | 5.72%
|
| GCP | 53.25 | 1 | 2.18%
|
| LBO | 945.53 | 3 | 38.62%
|
| Other refi (may include bank debt) | 139.76 | 1 | 5.71%
|
| Repay bank debt | 199.60 | 1 | 8.15%
|
| Repay bank debt and other uses | 100.00 | 1 | 4.08%
|
| Tender | 170.00 | 1 | 6.94%
|
| Tender and other uses | 700.00 | 1 | 28.59%
|
| Total | 2,448.09 | 10 |
|
|
|
|
|
| Moody's rating
|
|
|
| Ba2 | 199.60 | 1 | 8.15%
|
| B1 | 390.29 | 2 | 15.94%
|
| B2 | 1,415.00 | 3 | 57.80%
|
| B3 | 303.25 | 3 | 12.39%
|
| NR | 139.96 | 1 | 5.72%
|
| Total | 2,448.09 | 10 |
|
|
|
| Upsized?
|
|
|
| Yes | 479.32 | 3 | 19.58%
|
| No | 1,968.78 | 7 | 80.42%
|
| Total | 2,448.10 | 10 |
|
|
|
| Add ons?
|
|
|
| Yes | 293.01 | 3 | 11.97%
|
| No | 2,155.08 | 7 | 88.03%
|
| Total | 2,448.09 | 10 |
|
|
|
|
|
| Seniority
|
|
|
| Senior | 2,198.09 | 8 | 89.79%
|
| Senior sub | 100.00 | 1 | 4.08%
|
| Subordinated | 150.00 | 1 | 6.13%
|
| Total | 2,448.09 | 10 |
|
|
|
|
|
| Industry sector (by SIC code)
|
|
|
| Manufacturing (2xxx, 3xxx) | 1,698.78 | 5 | 69.39%
|
| Pipelines (46xx) | 199.60 | 1 | 8.15%
|
| Communications (48xx) | 100.00 | 1 | 4.08%
|
| Wholesale (5xxx) | 170.00 | 1 | 6.94%
|
| Services (7xxx) | 279.72 | 2 | 11.43%
|
| Total | 2,448.09 | 10 |
|
|
|
|
|
|
|
Criteria
* The tables include all dollar-denominated offerings sold in the U.S. as public or Rule 144A deals reported to Prospect News.
* Offerings are included in the time period in which they price.
* Issues maturing in 397 days or less are excluded.
* Convertibles, trust preferreds, capital securities and preferred stock are excluded.
* Fixed-rate medium-term notes with a face value above $100 million are included. All other MTNs are excluded.
* Deals rated investment-grade by either Standard & Poor's or Moody's Investors Service are excluded but deals not rated by both are included.
* Amounts are based on the total sales price (face amount multiplied by the offering price
* Units made up of a bond and a warrant are included; other units are excluded.
* Sovereign issues are excluded.
* Each tranche is counted as a separate deal.
* Passthroughs, collateral trust and equipment trust certificates are included.
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