Distressed Debt Exchanges Surge

The number of distressed debt exchanges has surged and is expected to account for a sizeable portion of defaults over the next 12 months.

  • 27 Jul 2009

--Leela Parker

The number of distressed debt exchanges has surged and is expected to account for a sizeable portion of defaults over the next 12 months. In distressed exchanges, companies buy back debt from their lenders at distressed prices. The company may retire existing bonds, pay down term debt ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%