European corporates face Eu565bn refinancing

European companies need to refinance Eu330bn of debt before the end of the year, Standard & Poor’s warned yesterday (Monday). The rating agency added that companies’ refinancing risks were a “significant ratings driver”. S&P, having assessed over 550 European credits that it rates, said in a new report that a further Eu235bn of debt would need to be refinanced in 2010.

  • 31 Mar 2009

“In 2009, our data indicate that companies in the ‘A’ and ‘BBB’ categories have the largest amount of absolute debt to be refinanced — Eu130.5bn and Eu115.4bn respectively,” said Chris Dinwoodie, an S&P analyst. “A similar trend is reflected [for 2010].

“However, refinancing risk in coming quarters is in ...

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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) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,251.11 279 13.15%
2 Bank of America Merrill Lynch 90,895.27 265 12.04%
3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%