Deal supply needed to calm the LBO bull

Borrowers and arrangers of leveraged loans are showing ever increasing confidence. But while demand and supply remain so mismatched, conclusions about the health of the market are premature.

  • 15 Feb 2011

Leveraged finance investors have been moaning this week that arranging banks are not returning their calls. This is more than a Valentine’s Day snub. It points to an apparent hardening of attitudes among arrangers that evokes memories of previous bull markets.

Banks' confidence is understandable. Syndications for Capio and ...

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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 %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%