Flurry of pre-IPO amendments for LevFin on the way

Leveraged loan bankers expect plenty of amendment requests in the coming months from borrowers wanting to raise initial public offerings, a trend highlighted this week by Amadeus, the Spanish travel group, launching an amendment on about Eu5.2bn of bank debt.

  • 04 Dec 2009
Sponsors, unable to sell their portfolio companies via secondary buy-outs, are looking to equity markets as the best way to exit businesses. Often companies need to amend their loans before any IPO, usually so that proceeds can be used to wipe out the junior debt before the senior ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,171 21 10.72
2 Bank of America Merrill Lynch (BAML) 6,901 20 10.32
3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
5 Lloyds Bank 4,420 14 6.61

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1 Wells Fargo Securities 68,611.22 170 11.38%
2 Bank of America Merrill Lynch 59,056.08 169 9.80%
3 JPMorgan 56,861.85 163 9.43%
4 Citi 56,521.05 165 9.38%
5 Credit Suisse 44,888.95 123 7.45%