An Oct. 25 article on page 1, "Bank Competition Reduces the Pricing on Big LBO Loans," and the table that accompanied it contained several errors about a loan for Hicks, Muse, Tate & Furst's buyout of American Home Products' food division.

The loan was for $770 million and was led by Chase Manhattan Corp.; Bankers Trust was merely co-manager. And though Hicks Muse was the sponsor, the nominal borrower was the food unit, International Home Foods.

Finally, the loan was priced higher than the article said. As is standard with leveraged loans, the tranche with the narrowest spread is 250 basis points over the London interbank offered rate.

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.