US investors drive Schaeffler loan momentum

US investors are leading demand for the €1bn-equivalent term loan ‘C’ being syndicated to funds as part of German ball bearings manufacturer Schaeffler’s €10bn bond and loan refinancing.

  • 03 Feb 2012
Lenders have been attracted by the high margin of 550bp and a Libor floor of 1.5% for a five year maturity — shorter than the usual seven year bullet term loans that fund managers buy. Talk on the original issue discount is 97. Schaeffler has a target of ...

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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 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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1 Citi 99,250.27 279 13.11%
2 Bank of America Merrill Lynch 92,153.61 267 12.17%
3 Wells Fargo Securities 72,661.39 222 9.59%
4 JPMorgan 52,367.24 169 6.91%
5 Credit Suisse 41,885.89 127 5.53%