Total: $52.614 billion in 64 deals
Columns are amount in billions of dollars, count of deals, percentage of total in dollars.
Rate (L+)
1/2006
100 2.400
125 5.015
150 3.905
175 0.300
200 13.173
225 6.260
250 2.405
275 0.925
300 2.775
325 bps and upwards 5.637
Fixed rate 0.025
NA/Other 9.793
Total 52.614
| Q1/2006 | Count | Total | Count | Share
|
| 100 | 2.400 | 5 | 2.400 | 5 | 4.56%
|
| 125 | 5.015 | 5 | 5.015 | 5 | 9.53%
|
| 150 | 3.905 | 8 | 3.905 | 8 | 7.42%
|
| 175 | 0.300 | 2 | 0.300 | 2 | 0.57%
|
| 200 | 13.173 | 13 | 13.173 | 13 | 25.04%
|
| 225 | 6.260 | 9 | 6.260 | 9 | 11.90%
|
| 250 | 2.405 | 12 | 2.405 | 12 | 4.57%
|
| 275 | 0.925 | 4 | 0.925 | 4 | 1.76%
|
| 300 | 2.775 | 6 | 2.775 | 6 | 5.27%
|
| 325 bps and upwards | 5.637 | 21 | 5.637 | 21 | 10.73%
|
| Fixed rate | 0.025 | 1 | 0.025 | 1 | 0.05%
|
| NA/Other | 9.793 | 33 | 9.793 | 33 | 18.61%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Upsized? |
|
|
|
| 1/2006 |
|
| Yes | 4.970 |
|
| No | 47.644 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Yes | 4.970 | 4 | 4.970 | 4 | 9.45%
|
| No | 47.644 | 115 | 47.644 | 115 | 90.55%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Flex? |
|
|
|
| 1/2006 |
|
| Down | 18.735 |
|
| No | 33.794 |
|
| Up | 0.085 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Down | 18.735 | 15 | 18.735 | 15 | 35.61%
|
| No | 33.794 | 103 | 33.794 | 103 | 64.23%
|
| Up | 0.085 | 1 | 0.085 | 1 | 0.16%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Type |
|
|
|
| 1/2006 |
|
| Revolver | 15.608 |
|
| Term | 8.488 |
|
| TLA | 8.305 |
|
| Institutional | 14.601 |
|
| Second/third/junior lien | 3.826 |
|
| Delayed draw | 0.345 |
|
| LoC | 1.440 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Revolver | 15.608 | 55 | 15.608 | 55 | 29.67%
|
| Term | 8.488 | 21 | 8.488 | 21 | 16.13%
|
| TLA | 8.305 | 8 | 8.305 | 8 | 15.78%
|
| Institutional | 14.601 | 17 | 14.601 | 17 | 27.75%
|
| Second/third/junior lien | 3.826 | 11 | 3.826 | 11 | 7.27%
|
| Delayed draw | 0.345 | 3 | 0.345 | 3 | 0.66%
|
| LoC | 1.440 | 4 | 1.440 | 4 | 2.74%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Moody's Rating |
|
|
|
| 1/2006 |
|
| Ba1 | 2.200 |
|
| Ba2 | 20.605 |
|
| Ba3 | 5.750 |
|
| B1 | 6.628 |
|
| B2 | 0.424 |
|
| B3 | 0.576 |
|
| NR | 16.431 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Ba1 | 2.200 | 3 | 2.200 | 3 | 4.18%
|
| Ba2 | 20.605 | 13 | 20.605 | 13 | 39.16%
|
| Ba3 | 5.750 | 9 | 5.750 | 9 | 10.93%
|
| B1 | 6.628 | 21 | 6.628 | 21 | 12.60%
|
| B2 | 0.424 | 7 | 0.424 | 7 | 0.81%
|
| B3 | 0.576 | 4 | 0.576 | 4 | 1.09%
|
| NR | 16.431 | 62 | 16.431 | 62 | 31.23%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Use of Proceeds |
|
|
|
| 1/2006 |
|
| Acquisition | 27.685 |
|
| Capex | 0.500 |
|
| Dividend/recap | 2.105 |
|
| Exit financing | 3.080 |
|
| GCP | 7.408 |
|
| LBO | 3.438 |
|
| Refinance | 7.823 |
|
| Multiple/Other/NA | 0.575 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Acquisition | 27.685 | 14 | 27.685 | 14 | 52.62%
|
| Capex | 0.500 | 1 | 0.500 | 1 | 0.95%
|
| Dividend/recap | 2.105 | 7 | 2.105 | 7 | 4.00%
|
| Exit financing | 3.080 | 2 | 3.080 | 2 | 5.85%
|
| GCP | 7.408 | 21 | 7.408 | 21 | 14.08%
|
| LBO | 3.438 | 7 | 3.438 | 7 | 6.53%
|
| Refinance | 7.823 | 10 | 7.823 | 10 | 14.87%
|
| Multiple/Other/NA | 0.575 | 2 | 0.575 | 2 | 1.09%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
| Industry Sector (by SIC code) |
|
|
|
| 1/2006 |
|
| Mining (1xxx) | 0.600 |
|
| Oil and gas (13xx) | 1.400 |
|
| Construction (15xx) | 0.350 |
|
| Manufacturing (2xxx, 3xxx) | 18.096 |
|
| Transportation (4xxx) | 3.300 |
|
| Communications (48xx) | 0.780 |
|
| Electric, gas, sanitary services (49xx) | 9.425 |
|
| Wholesale (5xxx) | 2.200 |
|
| Finance, insurance, real estate (6xxx) | 6.715 |
|
| Services (7xxx) | 8.243 |
|
| Health services (8xxx) | 1.505 |
|
| Total | 52.614 |
|
|
|
| Q1/2006 | Count | Total | Count | Share
|
| Mining (1xxx) | 0.600 | 1 | 0.600 | 1 | 1.14%
|
| Oil and gas (13xx) | 1.400 | 2 | 1.400 | 2 | 2.66%
|
| Construction (15xx) | 0.350 | 2 | 0.350 | 2 | 0.67%
|
| Manufacturing (2xxx, 3xxx) | 18.096 | 21 | 18.096 | 21 | 34.39%
|
| Transportation (4xxx) | 3.300 | 2 | 3.300 | 2 | 6.27%
|
| Communications (48xx) | 0.780 | 3 | 0.780 | 3 | 1.48%
|
| Electric, gas, sanitary services (49xx) | 9.425 | 5 | 9.425 | 5 | 17.91%
|
| Wholesale (5xxx) | 2.200 | 8 | 2.200 | 8 | 4.18%
|
| Finance, insurance, real estate (6xxx) | 6.715 | 8 | 6.715 | 8 | 12.76%
|
| Services (7xxx) | 8.243 | 8 | 8.243 | 8 | 15.67%
|
| Health services (8xxx) | 1.505 | 4 | 1.505 | 4 | 2.86%
|
| Total | 52.614 | 64 | 52.614 | 64 | 100.00%
|
|
|
Criteria
• The tables include dollar-denominated deals offered in the United States reported to Prospect News.
• Deals must be $75 million or bigger for inclusion.
• All loans are leveraged: either the interest rate margin is 150 bps or higher or they are rated speculative-grade by Moody's Investors Service or Standard & Poor's.
• Includes amended and restated loans where the maturity or size is changed but not repricings.
• Offerings are included in the time period in which the bank meeting was held (if available), otherwise the earlier of settlement date or date reported to Prospect News.
• Numeric totals are for the number of deals. Where individual tranches have different features (e.g. interest rate, flex), breakdown is by tranches, otherwise breakdown is by number of deals (e.g. use of proceeds, industry sector).
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