CHICAGO - Duff & Phelps Credit Rating Co. has given its A-plus rating to $300 million of Bankers Trust New York Corp. three-year, floating-rate notes.
The rating reflects Bankers Trust's solid balance sheet fundamentals and favorable earnings potential, the agency said. At the same time, it recognizes the earnings volatility that the company's major business lines have exhibited.
The notes were offered at a price of 99.965 with a coupon of 18.75 basis points above the three-month London interbank offered rate. The notes are callable after 18 months and mature May 27, 1998.
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CHICAGO - Borg-Warner Security Corp. engaged a unit of Bankers Trust New York Corp. to lead a syndicate of banks to proceed with $680 million of intermediate-term financing.
Syndication efforts are under way, and the financing facility for the armored car and alarm service company is expected to be in place by mid- 1995.
Borg-Warner chairman Donald C. Trauscht said a rating downgrading by Moody's Investors Service, affecting $250 million of the company's debt, had been anticipated and would not affect the loan's pricing.
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NEW YORK - Units of Bankers Trust New York Corp. and Chemical Banking Corp. are leading a $200 million loan for Investcorp, the principal financial entity of the Investcorp Group.
It is Investcorp's first five-year facility but the ninth medium-term facility since the company's formation in 1982. The primary purpose of this loan is to extend the maturity of Investcorp's medium-term borrowings.
Bankers Trust International PLC and Chemical Bank are acting as book running arrangers, while the Bank of Tokyo, Natwest Capital Markets, Societe Generale, and WestLB Group are regional coordinators.
The facility was increased from $150 million in response to a high level of interest among banks, Investcorp said.