Schuldschein taps ground with B. Braun hit

German medical firm B. Braun sold what some are calling the tightest six year loan in Schuldschein history this week, even as it more than doubled the €150m initial target. However, some Schuldschein bankers believe German issuers have reached the pricing floor.

  • By Silas Brown
  • 08 Jun 2017

DZ Bank and Helaba offered tranches of six, eight and 10 years to Schuldschein investors, with margin ranges of 50bp-60bp, 65bp-75bp and 75bp-85bp respectively. Final pricing was not disclosed.

B. Braun last entered the market two to three years ago, when margins were some 10bp-15bp wider, said a ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 310,650.35 1075 10.68%
2 JPMorgan 278,901.05 991 9.59%
3 Citi 195,254.47 608 6.71%
4 Wells Fargo Securities 158,232.94 729 5.44%
5 Barclays 113,761.01 485 3.91%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 3,666.99 10 11.57%
2 Citi 3,086.50 9 9.74%
3 First Abu Dhabi Bank 2,760.98 12 8.71%
4 Industrial & Commercial Bank of China - ICBC 2,637.92 7 8.32%
5 China Development Bank Corp 2,162.50 2 6.82%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,630.48 71 7.17%
2 BNP Paribas 15,800.30 101 6.43%
3 Goldman Sachs 13,736.97 57 5.59%
4 HSBC 13,121.85 85 5.34%
5 Bank of America Merrill Lynch 12,513.39 58 5.09%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,591.50 163 6.58%
2 Deutsche Bank 34,293.84 117 6.53%
3 Bank of America Merrill Lynch 31,293.04 95 5.96%
4 BNP Paribas 27,578.61 168 5.25%
5 SG Corporate & Investment Banking 23,982.83 136 4.56%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2016
1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%