Reverse-flex for Dubai revenue-secured deal

Big demand for the $800m six year transportation loan secured by toll road revenues for Dubai-based SPV Salik 1 has enabled the borrower to try to reverse-flex the margin on the deal by 25bp.

  • 14 Jun 2011

The borrower is seeking to cut the margin from 350bp to 325bp after the deal was 1.5 times oversubscribed. Most lenders have agreed to the flex and the margin cut is expected to go through.

Deal hunger among under-lent banks in the Middle East drove the oversubscription and suggests ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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 %
  • Last updated
  • Today
1 Citi 81,747.75 235 12.94%
2 Bank of America Merrill Lynch 70,673.72 216 11.18%
3 Wells Fargo Securities 62,362.66 195 9.87%
4 JPMorgan 45,920.23 145 7.27%
5 Credit Suisse 36,830.60 112 5.83%