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Securitization - CLO/CDO

Premium pays off as Enel overwhelmed in syndication, increases new deal to €3.2bn

Italian electricity producer Enel has completed its new syndicated credit facility, with the pricing premium offered bringing lenders flocking to the deal.

  • 24 Feb 2012

The facility, which is priced at 350bp over Euribor all-in based on a margin of 300bp, has been increased from a mooted €2bn to €3.2bn after demand overwhelmed the syndication.

"This is a very strong company, and it’s well priced and well structured," said a senior loans banker. ...

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CLO

IssuerArrangerSize ($M)
Fifth Street Management, Fifth Street Senior Loan Fund IWells Fargo309.45
Pinebridge Investments, Galaxy XIX CLOCiti509.90
Apollo Credit Management, ALM XIIMorgan Stanley786.00

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Feb 2015
1 Citi 3,955.63 13 10.90%
2 JPMorgan 3,622.67 11 9.98%
3 Barclays 3,053.33 10 8.41%
4 Deutsche Bank 2,204.97 7 6.07%
5 Wells Fargo Securities 2,099.86 9 5.78%

Bookrunners of European Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Feb 2015
1 Credit Agricole CIB 921.35 2 8.52%
2 Deutsche Bank 613.60 1 5.67%
2 Cantor Fitzgerald & Co 613.60 1 5.67%
4 Citi 540.88 1 5.00%
4 Barclays 540.88 1 5.00%