MEMPHIS -- Bankers Trust Co. is leading a $175 million credit for the construction of a new Harrah's Casino in New Orleans.

The Promus Cos. here said Harrah's Jazz Company has completed a $435 million first mortgage note offering led by Donaldson Lufkin & Jenrette Securities Corp.

The equity contributions of the partners in Harrah's Jazz Co. are: Promus, $90 million; New Orieans/Louisiana Development Corp., $23.3 million; and Grand Palais Casinos, $56.6 million.

* * *

NEW YORK -- Kidder, Peabody & Co. retained its top spot in mortgage-backed securities underwriting for the third quarter of 1994, according to preliminary data from Securities Data Co.

Merrill Lynch & Co. rose to the top place in assetbacked underwriting, winning 28.5% of market share for the third quarter. CS First Boston Inc. was a close second with 28.1% of market share, according to the preliminary data.

Total industrywide issuance of mortgage-backed securities was down dramatically to $12.38 billion in the third quarter compared with $132.32 billion for the same period last year.

In .contrast, asset-backed issuance was up slightly to $16.95 billion compared to $14.16 billion for the third quarter in 1993.

* * *

LONDON -- BankAmerica Corp. on Monday priced $200 million of Eurobonds due Dec. 15, 1999 at a coupon of 8.375% and an issue and fixed reoffer price of 99.555%.

The bonds were priced to yield 8.49%, or 50 basis points over the when-issued five year U.S. Treasury.

The borrower's outstanding senior debt is rated A2 by Moody's Investors Service Inc. and A by Standard & Poor's.

@ @

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.