- First Union's roles in this financing included:
- Sole lead arranger, asset-backed securitization
- Administrative agent and sole arranger, senior secured revolving credit facility
- Co-lead manager, high-yield synthetic lease offering
- First Union has actively supported the Company since its inception – including:
- Private equity investment by First Union Capital Partners in conjunction with Universal’s initial formation
- Co-manager, initial public offering in May, 2000
- Equity coverage by analyst Yves Siegel; debt coverage by analyst Eric Selle
- Syndication agent on previous senior debt and synthetic lease facilities
"First Union has been an integral part of Universal's success since our inception. They have consistently demonstrated their commitment to Universal: as part of the private equity group that facilitated the management buyout in 1998, by serving as an underwriter of our IPO and by committing debt capital in support of our growth and acquisition activities. Simply put, client focus means more than words to First Union," said Stephen A. Snider, President and CEO, Universal Compression, Inc.
"This transaction showcases First Union's ability to work successfully across several product areas to deliver a tailored capital solution for Universal Compression. First Union has been a consistent provider and arranger of capital, strategic advisory services and value-added ideas for Universal since the formation of the company," noted James M. Kipp, head of First Union Securities’ Energy Investment Banking Group. "We were pleased to further build on this relationship."
Houston-based Universal Compression is a leading natural gas compression services company providing a full range of rental, sales, operations, maintenance and fabrication services and products to the domestic and international natural gas industry. www.universalcompression.com.
First Union Securities' Energy Investment Banking Group, based in Houston and New York, has earned its strong reputation for proactive idea generation, access to the capital markets and high-quality transaction execution through years of success. First Union has built a strong team of 25 energy experts focused exclusively on the financial challenges and opportunities in this evolving sector. Coverage includes Exploration and Production, Diversified Energy, Oilfield Services, Processing and Gathering, and Pipelines and Distribution.
First Union (NYSE:FTU), with $254 billion in assets and stockholders' equity of $15 billion at December 31, 2000, is a leading provider of financial services to 15 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in 11 East Coast states and Washington, D.C., and full-service brokerage offices in 46 states. Online banking products and services can be accessed through www.firstunion.com.
Important Notice: First Union Securities is the trade name under which Charlotte based First Union Corporation conducts its investment banking, merger and acquisition, asset management and mutual fund, brokerage and insurance businesses.
First Union Securities includes: (1) First Union Securities, Inc. (“FUSI”), a registered broker-dealer and member NYSE/NASD and SIPC providing investment banking, merger and acquisition advisory and brokerage services to corporations, individuals and other institutions throughout the United States; (2) First Clearing Corporation (“FCC”), a separately registered broker-dealer and member NYSE/NASD and SIPC, providing securities clearance and settlement services; (3) JW Genesis, Inc., a separately registered broker-dealer and member of the NASD and SIPC providing full service brokerage services; (4) the Capital Markets and Capital Management Groups within First Union National Bank (“FUNB”), a national banking association, and its subsidiaries, providing asset management, lending, structured finance risk management, derivatives, and fiduciary services to institutions and individuals; (5) various subsidiaries within First Union Corporation providing investment advisory, administrative and other services to the Evergreen and Mentor families of mutual funds; and (6) various wholly-owned state insurance agencies.
Stocks, bonds, mutual funds or other securities offered or sold through First Union Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by First Union Corporation, FUNB or any bank; and involve investment risk, including possible loss of principal.
Email This Page
Printer Friendly Version
