Success for Glencore as FSF is upped and signed

The completion of a successful syndication process has allowed Glencore to increase its loan to $7.465bn from $5.5bn. The Swiss commodities group, Baa2/BBB-, came to the market on April 1 with a $5bn forward start and a $500m one year tranche. The forward start has been increased to $6.65bn and the smaller piece to $815m.

  • 14 May 2009

The forward start, which pays between 225bp and 325bp, extends for one year part of an $8.21bn revolver due in May 2011. The other tranche replaces a $925m revolver that was due on May 15.

Bankers close to the deal said the outcome was better than expected. “Glencore will ...

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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 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%