Outlook fades for paper firm LBOs

Standard & Poor’s revised its rating outlook to negative from stable on two European leveraged buy-outs on Tuesday. The paper and packaging firms Lecta and Smurfit Kappa will struggle to maintain their current ratings, the agency warned.

  • 25 Feb 2009

Irish cardboard packaging firm Smurfit Kappa’s BB rating has been affirmed but the outlook revised to negative. S&P said that it faces “significant challenges to improve operating performance”.

Kappa’s leverage ratio was about 4.3 times Ebitda at the end of 2008, up from 3.9 times in 2007. S&P thinks ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%