Henkel shows that aggressive is now the standard

A Eu700m five year refinancing loan for German consumer goods and cosmetics group Henkel, launched on Friday with a margin of 75bp, has established a tight standard for top-tier European companies, bankers said on Monday.

  • 08 Feb 2010

The deal for the A3/A- borrower follows a five year facility from Philips (A3/A-), which also pays 75bp.

“The Philips deal has set a precedent,” said a loans banker on Henkel’s facility. “Henkel has the same rating as Philips, and is comparably strong in the market, so it is ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

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Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%