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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 8,775 26 11.00
2 Bank of America Merrill Lynch (BAML) 8,723 26 10.94
3 Lloyds Bank 5,252 18 6.58
4 JP Morgan 5,195 12 6.51
5 Morgan Stanley 5,011 12 6.28

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  • Last updated
  • 05 Dec 2016
1 Wells Fargo Securities 80,174.27 201 10.91%
2 Bank of America Merrill Lynch 74,495.43 214 10.14%
3 JPMorgan 67,723.30 201 9.22%
4 Citi 66,850.08 199 9.10%
5 Credit Suisse 54,924.54 146 7.48%