Tata returns from hiatus with $190m refinancing

Indian company Tata Chemicals has ended its five year absence from the loan market, launching a $190m six year loan into general syndication via bookrunners and mandated lead arrangers Crédit Agricole and Mizuho Bank.

  • By Rashmi Kumar
  • 04 Oct 2013

Priced at a margin of 195bp over dollar Libor, the deal is fully underwritten by the leads, according to a banker.

There are two participation levels up for grabs: lead arrangers committing $15m or more get flat fees of 65bp for all-ins of 208bp, while arrangers chipping ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 108,190.43 309 12.88%
2 Bank of America Merrill Lynch 95,782.14 279 11.40%
3 Wells Fargo Securities 80,847.28 245 9.63%
4 JPMorgan 58,524.24 184 6.97%
5 Credit Suisse 43,977.05 134 5.24%