Takko LBO wraps up in early-bird

Syndication of Eu850m of all-senior loans backing private equity firm Apax’s buy-out of German fashion retailer Takko closed oversubscribed, after allocation on Wednesday. The loans were fully syndicated in an early-bird phase

  • 25 Feb 2011

The early-bird success of Takko replicates that of recent Capio and IMCD leveraged buy-outs in not needing a general syndication. Scarcity of primary deals and cash-rich investors mean the leveraged loan market continues to offer friendly conditions for borrowers, said bankers.

Takko’s Eu450m institutional term loan ‘B’ — which ...

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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 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%