Merrill Lynch & Co. and Morgan Stanley Dean Witter & Co. were two of the three lead arrangers on the third quarter’s largest syndicated loan, illustrating how securities firms are using credit to round out their investment banking services.

The $10 billion credit, which spiked the two firms’ standings in Thomson Financial/Securities Data’s third-quarter leveraged lending league tables, went to Georgia-Pacific Corp., a lumber and paper products company in Atlanta that produces Angel Soft toilet tissue, Sparkle paper towels, and other products. Georgia-Pacific needed the financing to buy rival Fort James Corp. Merrill, Morgan Stanley, and Bank of America Corp., the other lead arranger for the syndicate, advised on the deal.

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.