L&T opens up $370m deal in general

Indian conglomerate Larsen & Toubro launched its $370m five year amortising loan into general syndication on September 9, pricing the deal at 125bp over dollar Libor.

  • By Rashmi Kumar
  • 09 Sep 2013

Australia and New Zealand Bank, Bank of Tokyo Mitsubishi-UFJ, HSBC, Mizuho Bank, Royal Bank of Scotland and Sumitomo Mitsui Banking Corp are the bookrunners, and are offering lenders two levels to join.

Lead arrangers committing $25m and above earn an all-in of 154bp, while co-arrangers chipping in ...

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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

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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%