Boots TLB down as investors take dose of repayment reality

Alliance Boots’ term loan ‘B’, part of Europe’s largest ever LBO financing, edged down in the secondary market on Thursday on the easing of a bout of euphoria that had seen the paper jump five points on the previous day's news of an investment by US pharmacy chain Walgreen.

  • 21 Jun 2012

Some investors said that while the presence of a large corporate shareholder certainly strengthened the credit, the market was realising that the deal was no guarantee of a repayment.

Markit data indicates that Boots’ loan jumped from 91.8/92.7 at the end of last week to 96.5/97.5 on Tuesday as ...

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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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%