Total issuance: $2,686.00 in 10 deals
Columns are amounts in millions of dollars, count of deals and percentage by dollar value.
Yield
| 7%-7.99% | 125.63 | 1 | 4.68%
|
| 8%-8.99% | 0.00 | 0 | 0.00%
|
| 9%-9.99% | 450.00 | 1 | 16.75%
|
| 10%-10.99% | 350.64 | 1 | 13.05%
|
| 11%-11.99% | 400.00 | 1 | 14.89%
|
| Over 12% | 1,359.73 | 6 | 50.62%
|
| Total | $2,686.00 | 10 |
|
|
|
|
|
| Pricing versus talk
|
|
|
| Low end | 400.00 | 1 | 14.89%
|
| Middle | 926.27 | 3 | 34.48%
|
| High end | 760.61 | 2 | 28.32%
|
| Higher | 489.12 | 2 | 18.21%
|
| NA | 110.00 | 2 | 4.10%
|
| Total | $2,686.00 | 10 |
|
|
|
| Use of proceeds
|
|
|
| Construction | 343.33 | 1 | 12.78%
|
| LBO | 1,230.78 | 5 | 45.82%
|
| Other refi (may include bank debt) | 350.64 | 1 | 13.05%
|
| Repay bank debt and other uses | 235.61 | 1 | 8.77%
|
| Redeem notes | 125.63 | 1 | 4.68%
|
| NA | 400.00 | 1 | 14.89%
|
| Total | $2,686.00 | 10 |
|
|
|
|
|
| Moody's rating
|
|
|
| Ba2 | 586.25 | 2 | 21.83%
|
| Ba3 | 400.00 | 1 | 14.89%
|
| B2 | 650.63 | 3 | 24.22%
|
| B3 | 1,014.12 | 3 | 37.76%
|
| NR | 35.00 | 1 | 1.30%
|
| Total | $2,686.00 | 10 |
|
|
|
| Upsized?
|
|
|
| Yes | 1,200.64 | 3 | 44.70%
|
| No | 688.95 | 4 | 25.65%
|
| Downsized | 796.41 | 3 | 29.65%
|
| Total | $2,686.00 | 10 |
|
|
|
| Add ons?
|
|
|
| Yes | 125.63 | 1 | 4.68%
|
| No | 2,560.37 | 9 | 95.32%
|
| Total | $2,686.00 | 10 |
|
|
|
|
|
| Seniority
|
|
|
| Mortgage | 235.61 | 1 | 8.77%
|
| Second mortgage | 343.33 | 1 | 12.78%
|
| Senior | 850.00 | 2 | 31.65%
|
| Senior secured | 425.64 | 2 | 15.85%
|
| Senior sub | 831.41 | 4 | 30.95%
|
| Total | $,686.00 | 10 |
|
|
|
|
|
| Industry sector (by SIC code)
|
|
|
| Oil and gas (13xx) | 400.00 | 1 | 14.89%
|
| Construction (1500-1799) | 180.78 | 2 | 6.73%
|
| Manufacturing (2xxx, 3xxx) | 1,325.64 | 3 | 49.35%
|
| Communications (48xx) | 125.63 | 1 | 4.68%
|
| Electric, gas, sanitary services (49xx) | 235.61 | 1 | 8.77%
|
| Services (7xxx) | 418.33 | 2 | 15.57%
|
| Total | $2,686.00 | 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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