Loans backing dividend recaps rise

Loans backing dividend recapitalisations have reached their highest volume on record for the third quarter, as private equity firms continue to hold on to their assets rather than sell at a discount.

  • By Olivier Holmey
  • 15 Oct 2013

Globally, financial sponsor-related loans to finance dividend payouts totalled $10.5bn between July and September 2013, according to a report published by Dealogic on Tuesday. This is 15% up on the same period last year, though less than in the second quarter and other quarters in the past.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 98,544.62 277 13.26%
2 Bank of America Merrill Lynch 90,698.73 264 12.20%
3 Wells Fargo Securities 70,282.48 216 9.45%
4 JPMorgan 51,967.93 167 6.99%
5 Credit Suisse 41,545.25 126 5.59%