PFC takes currency view with latest yen loan

Indian state-owned lender Power Finance Corp has launched its second yen-denominated loan in less than six months, taking advantage of low yen interest rates — and expectations that the currency will weaken against the dollar when US rates start to rise.

  • 01 Feb 2011
Bank of Tokyo-Mitsubishi, Mizuho and SMBC are running the six year loan, which launched into syndication on Wednesday. PFC wants to raise money to lend to power companies in India after swapping it into rupees. But the company has turned away from the busy dollar-denominated loan market, and ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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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%