Stricken by loans, firms turn to equity market

Several western European borrowers are turning to rights issues to pay down their syndicated loans, a stark reminder of the poor refinancing prospects for triple-B credits and the difficulties they face staying within their covenants.

  • 30 Jan 2009
Rio Tinto, the Anglo-Australian miner, Xstrata, the Anglo-Swiss mining group, and Cookson, the UK building materials company, this week each announced an equity raising or the possibility of such a move.Rio Tinto said on Wednesday that it was considering a A$6bn ($4bn) rights issue to help take out ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
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%