Troubled National Express pursues debt cutting plans

UK transport group National Express confirmed on Wednesday that it is considering raising equity among other options in a bid to reduce its debt. The company, which renegotiated its loan covenants at the end of June, also revealed in a trading update that it would not be able to financially support its British East Coast franchise, leading the UK government to nationalise the division.

  • 01 Jul 2009
National Express added that it was taking steps to strengthen its balance sheet and reduce its debt — much of which is made up of syndicated loans totalling £1.26bn. As well as equity funding — which could total the £400m that the group is widely speculated to be ...

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New! GlobalCapital European securitization league table

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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Rank Lead Manager Amount $m No of issues Share %
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  • 24 Oct 2016
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%