Deutsche Bank Joins J.P. Morgan

  • 28 Apr 2002
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Deutsche Bank has taken the lead slot alongside J.P. Morgan for a $3 billion five-year multi-currency revolver for Siemens after taking a backseat on the last credit led by J.P. Morgan. Lothar Schlichting, a spokesman for Deutsche Bank in Frankfurt, Germany, said, "we were surprised we did not lead it five years ago. Deutsche Bank has a very broad relationship with Siemens." Schlichting would not say what ancillary business is conducted with the massive global conglomerate. Pay-to-play is as much a theme in Europe as in the U.S. Recently, Deutsche Telekom lined up three underwriters for a bond deal where the underwriters, including Deutsche Bank, were the lead arrangers on a company loan.

The new facility will be used to refinance a $2 billion multi-currency line arranged in 1995 for CP backup purposes. A bank meeting will be held in Munich on April 30, and key relationship banks are invited to participate. Arrangers are being asked for $200 million, which offers 10 basis points and co-arrangers tickets are available at $100 million with 8 basis points on offer. The facility fee is also 8 basis points with a drawn margin of 22.5 basis points.

 

  • 28 Apr 2002

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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 98,446.48 276 13.35%
2 Bank of America Merrill Lynch 90,174.33 262 12.23%
3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%