Pricing appeals on BPCL, HPCL and IRFC loans

The latest loans for state-owned Bharat Petroleum, Hindustan Petroleum and Indian Railway Finance have captured the attention of loans bankers, thanks to the juicy pricing on offer. And with more deals in the pipeline, there is increasing hope that a price correction is finally gaining strength among the country’s credits.

  • By Rashmi Kumar
  • 25 Oct 2013

Bharat (BPCL) has launched its $500m six year financing into general syndication, offering a margin of 175bp over dollar Libor.

The amortising deal hit the market on October 21 via bookrunners and mandated lead arrangers Australia and New Zealand Bank, BNP Paribas, DBS, Deutsche Bank, Mizuho Bank, ...

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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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%