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Securitization - CLO/CDO

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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CLO

IssuerArrangerSize ($M)
Alcentra NY, LLC, Shackleton I-RJefferies402.30
Saranac Advisory Limited, SRANC 2014-3Jefferies399.75
Steele Creek Investment Management, Steele Creek CLO 2014-1BNP Paribas413.50

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2014
1 JPMorgan 39,677.08 96 10.63%
2 Citi 38,263.92 96 10.26%
3 Bank of America Merrill Lynch 35,924.95 98 9.63%
4 Barclays 31,529.48 76 8.45%
5 Credit Suisse 27,820.58 75 7.46%

bookrunners of European Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 Jul 2014
1 JPMorgan 4,076.46 11 9.76%
2 Deutsche Bank 3,489.39 10 8.35%
3 Bank of America Merrill Lynch 2,737.00 7 6.55%
4 RBS 2,666.67 6 6.38%
5 Barclays 2,655.81 8 6.36%
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