DJ Comdisco Says Bank of America Top Unsecured Lender
17 Jul 08:15
(This article was originally published Monday)
By Christine Richard
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Bank of America (BAC) will be listed as holding the top
unsecured claim against Comdisco Inc. (CDO) when the company's bankruptcy court
petition is made public on Tuesday, according to a Comdisco spokeswoman.
Bank of America has an unsecured claim against the company of $88,950,000,
putting it on top of the list of unsecured creditors.
Analysts say, however, that institutional bondholders may have larger claims.
Royal Bank of Scotland (RBSB) has the second largest unsecured claim of
$72,550,000.
Citicorp Inc. (C) has the third largest claim of $71,140,000.
Banc One Capital Markets has the fourth largest claim of $62,680,000.
Credit Lyonnais S.A. has the fifth largest claim at $61,820,000.
Topping Comdisco's list of trade creditors when the company's Chapter-11
bankruptcy filing is released on Tuesday will be Cisco Systems Inc. (CSCO), the
spokeswoman said.
Cisco is owed $4,115,749.
Solectron Corp. (SLR) is second on the list of trade creditors with a claim
of $3,504,457.
Nortel Networks (NT) is third on the list with a claim of $2,535,503.
International Business Machines (IBM) is fourth with $1,437,107, and EMC Corp.
(EMC) is fifth with $1,216,992.
Chase Manhattan Bank is the top holder of Comdisco bonds - $387,409,000 worth
- the Comdisco spokeswoman said.
She described Chase Manhattan as the "largest registered noteholder."
Analysts said the bank was likely to be a trustee rather than the ultimate
holder of the debt.
The second largest holder of Comdisco notes is Bank of New York (BK) at
$273,044,000. The third largest is State Street Bank & Trust (STT) at
$223,692,000.
Fourth on the list is Bankers Trust at $143,420,000, and fifth is Citibank at
$140,808,000.
Analysts said mutual funds and insurance companies were likely to be the
largest holders of the debt.
-By Christine Richard, Dow Jones Newswires; 201-938-2189;
christine.richard@dowjones.com
(END) DOW JONES NEWS 07-17-01
08:15 AM |
