EuroWeek View: Loan market shoots itself in the foot

Vivendi’s recent foray into the loan market has set an unwelcome precedent. Despite widespread criticism from syndicate bankers, the borrower undercut all recent benchmarks on the way to pricing a Eu1bn deal. If others follow suit, the syndicated loan will once again become no more than a loss-leader.

  • 03 Aug 2010
One silver lining of the financial crisis cloud for banks is that for the last two years, they have been in charge in negotiations with borrowers over new syndicated loans. The balance had swung heavily in favour of borrowers in the bull-run up to late 2007. They were ...

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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%