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 Bank of America Merrill Lynch (BAML) 4,765 11 14.37
2 Lloyds Bank 3,641 9 10.98
3 Citi 3,549 10 10.70
4 Credit Suisse 3,195 5 9.64
5 Morgan Stanley 2,259 3 6.81

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  • Last updated
  • 23 May 2016
1 Wells Fargo Securities 27,093.12 66 11.27%
2 Bank of America Merrill Lynch 26,825.12 72 11.16%
3 Citi 20,844.95 65 8.67%
4 Credit Suisse 19,870.33 54 8.26%
5 JPMorgan 19,527.22 62 8.12%