Oversubscribed DuPont sets tone for tightening lev market

Lack of supply, competition from the strengthening high yield bond market and pressure on CLOs to dispose of the last of their funds before the end of their reinvestment periods can only mean one thing for the European leveraged loan market —prices are set to go way, way down.

  • 18 Jan 2013

Bankers are bracing themselves for months of shrinking margins as demand heavily outstrips supply.

This week, the pricing of the $2.7bn loans backing Carlyle’s buy-out of US car paint firm DuPont Performance Coatings was slashed after the bookrunners received overwhelming demand for both the bond and loan portions ...

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New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,171 21 10.72
2 Bank of America Merrill Lynch (BAML) 6,901 20 10.32
3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
5 Lloyds Bank 4,420 14 6.61

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Wells Fargo Securities 68,611.22 170 11.38%
2 Bank of America Merrill Lynch 59,056.08 169 9.80%
3 JPMorgan 56,861.85 163 9.43%
4 Citi 56,521.05 165 9.38%
5 Credit Suisse 44,888.95 123 7.45%