Cinven raises £427m for GFS Phoenix acquisition

Lloyds, National Bank of Australia, Royal Bank of Canada and Royal Bank of Scotland have underwritten £427m of senior loans to support the acquisition of 300,000 in-payment pension annuities by Guardian Financials Services, the life insurance group that Cinven bought in November 2011, from Phoenix Group.

  • 19 Jul 2012

The loan is in the form of a single amortising tranche with a maturity of five years and a margin of 425bp. The debt will also refinance the £125m of loans that Cinven used to acquire Guardian from Aegon last year.

Phoenix Group is transferring about £5bn of assets ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%