EuroWeek View: BASF deal says little about broader corporate lending

BASF has launched its new revolving credit line at what some regard as a scandalously tight 25bp. But BASF and other blue-chip borrowers like it are funding in a completely different market to most corporate issuers. Deals like this do not reflect the financing conditions available in the wider loans sector.

  • 12 Mar 2013
It’s only three months into 2013, and we already have a contender for the tightest investment grade loan deal of the year. Germany’s BASF has launched a $3bn five year plus one plus one transaction priced at just 25bp. The deal for the A1/A+/A+ rated firm is set ...

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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) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%