Good news for leverage: oversubscribed Raet to keep 98 OID

Arrangers of Raet’s €300m of LBO loans hope to send a good signal about the capacity of the primary leveraged loan market as they will allocate the loans at the agreed original issue discount (OID) of 98, and with a relatively thin margin of 475bp on the term loan ‘B’.

  • 05 Oct 2011

The loan was oversubscribed in syndication, with some accounts still expected to come in. There had been some resistance from investors to the proposed OID, bankers told EuroWeek last week, but none of the terms will be changed. Commitments with docs are due today.

Although it is admittedly a ...

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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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 83,931.01 244 12.94%
2 Bank of America Merrill Lynch 71,587.85 220 11.03%
3 Wells Fargo Securities 64,351.96 203 9.92%
4 JPMorgan 46,391.25 147 7.15%
5 Credit Suisse 37,323.31 115 5.75%