• Parex seeks €865m loan to take out FRNs

    ParexGroup, the French construction chemicals maker, has scheduled a bank meeting for Monday for an €865m seven year term loan to refinance €700m of floating rate notes, as Irish telecoms firm Eir released price guidance on Friday for its €1.6bn loan refinancing.

    • 12:45 PM
  • Quintiles IMS cuts $3bn loan, pumps up notes

    US healthcare research firm Quintiles IMS launched a $3.065bn-equivalent term loan ‘B’ refinancing and add-on this week. By Thursday the firm had dropped the add-on however as its €850m eight year notes offering proved popular.

    • 23 Feb 2017
  • European LBO pipeline grows as KKR wires in Telxius investment

    KKR has agreed to buy up to a 40% share in Telefónica’s telecoms infrastructure division Telxius for €1.275bn, adding further to a growing buyout pipeline in Europe.

    • 23 Feb 2017
  • Loans news in brief — February 23 2017

    Delek — Ion Trading — Profi

    • 23 Feb 2017
  • CVC gets Z2.7bn of loans for Żabka takeover

    Details have emerged of the financing CVC will use to buy Polish retail chain Żabka Polska, its second takeover in the region.

    • 23 Feb 2017
  • A&O poaches Paul's partners

    Allen & Overy has hired three partners from Paul Hastings to its leveraged finance practice.

    • 23 Feb 2017
  • Apcoa revs €325m refi loan to 450bp

    Pan-European car park operator Apcoa has released price guidance at 450bp with a 0% floor on its €325m seven year term loan ‘B’, a deal that follows a restructuring in 2015 that led to distressed debt investor Centerbridge taking over the firm.

    • 23 Feb 2017
  • CVC shops for Żabka Polska at Mid Europa

    CVC has agreed to buy Polish retailer Żabka Polska from Mid Europa Partners, in what the latter says is the largest private equity exit in Poland to date.

    • 21 Feb 2017
  • KKR to pay €1.275bn for 40% of Telefonica's Telxius

    KKR has agreed to buy up to a 40% share in Telefónica’s telecoms infrastructure division Telxius for €1.275bn, adding further to a growing buyout pipeline in Europe.

    • 21 Feb 2017
  • Proctor gambles on Santander in sponsors job switch

    Santander has poached yet another banker from the Royal Bank of Scotland's leveraged finance team, as Saul Proctor becomes financial sponsor director at the Spanish bank.

    • 21 Feb 2017
  • Ethypharm guides acquisition loan, Global Blue to close

    French pharmaceuticals firm Ethypharm has released price guidance on its £152m six year cov-lite term loan ‘B’, backing its acquisition of UK-based Martindale Pharma.

    • 20 Feb 2017
  • LBO revival touted as Stada targeted

    Large leveraged buyouts may be set for a return to Europe’s leveraged finance market following a lengthy sojourn. Stada, the German generic pharmaceuticals firm, this week said it was fielding numerous buyout offers worth around €3.5bn, offering investors the respite from relentless repricings that they have craved for several months. Max Bower reports.

    • 16 Feb 2017
  • Blackstone buy Cloudreach joins LBO queue

    Blackstone has bought a majority stake in London-based cloud software firm Cloudreach, adding further to its existing queue of European buyouts waiting to be financed.

    • 16 Feb 2017
  • Stada prescribes LBO for suffering levloan market

    Stada, the German generic pharmaceuticals firm, could offer leveraged finance investors the respite from repricing deals that they have craved for several months as it fields numerous buyout offers worth around €3.5bn.

    • 14 Feb 2017
  • BC Partners hires Apollo IC's former president

    BC Partners has hired the former president and chief investment officer of Apollo Investment Corp to head its own newly opened credit platform.

    • 10 Feb 2017
  • Apax's Unilabs acquires Alpha Medical

    Unilabs, the Apax Partners-owned medical diagnostics firm, has agreed to buy Alpha Medical from Mid Europa Partners in what will be the largest healthcare deal in central Europe since 2008.

    • 09 Feb 2017
  • Stone Canyon pounces as Mauser foregoes IPO

    Stone Canyon Industries, the US investment firm, has agreed to buy Mauser for $2.3bn after the German packaging supplier forewent a proposed initial public offering.

    • 08 Feb 2017
  • BGF partners with First Derivatives on SME investment

    The Business Growth Fund has teamed up with First Derivatives to invest in early stage technology companies in the UK, a sector the country's chancellor cited in the autumn budget as requiring extra funding.

    • 07 Feb 2017
  • Chronic supply shortage 'worrying' for market stability

    The sheer amount of excess liquidity in the leveraged finance market in Europe has initiated a relentless repricing wave. And on Tuesday, the head of leveraged finance at a bank in London went as far as to say that the supply/demand imbalance was so extreme it threatened medium term market stability.

    • 07 Feb 2017
  • Logoplaste repackages loan as B&B checks out

    Logoplaste, the Portuguese plastic packaging maker, boarded the loan market's runaway repricing train on Monday, completing a request on four different tranches amid several similar deals.

    • 06 Feb 2017
  • Creativity key to LBO pipeline, says Goldman

    Several mid-market buyout deals materialised in the European leveraged finance market at this week, even as private equity firms struggle to source primary issuance amid highly elevated asset prices.

    • 06 Feb 2017
  • Forget sponsor-led HY bonds, urges issuer adviser

    As the visible pipeline in the European high yield bond market reopens, one of the largest debt advisers to borrowers had a tip for high yield bankers: search for new supply away from sponsors.

    • 06 Feb 2017
  • Marcolin speeds up floater following LVMH JV

    Italian eyewear maker Marcolin entered a quiet European high yield market on Tuesday, announcing a roadshow starting on Wednesday for €250m of floating rate notes after signing a joint venture with LVMH.

    • 03 Feb 2017
  • Xella builds on loan again as demand raises the roof

    Xella increased its €1.4bn buyout term loan for a second time on Thursday morning, adding another €50m in lieu of a proposed shareholder loan, while US software firm Infor did the same on its €750m term loan.

    • 03 Feb 2017
  • Sterling loans tighten as managed accounts bulk up

    Parkdean Resorts accelerated commitments on its £575m ($722m) buyout seven year term loan ‘B’ this week alongside several issuers who came to reprice sterling deals, as more cash pours into non-CLO investment accounts.

    • 02 Feb 2017
  • BC Partners: call me, Ismail

    BC Partners, the private equity firm, has hired a new managing partner from outside the company.

    • 02 Feb 2017

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Feb 2017
1 JPMorgan 1,555.65 4 10.62%
2 Scotiabank 1,078.68 3 7.37%
3 BNP Paribas 964.36 3 6.59%
4 Goldman Sachs 935.56 3 6.39%
5 Bank of America Merrill Lynch 928.68 2 6.34%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 Credit Suisse 1,052.39 15 9.44%
2 Deutsche Bank 975.14 10 8.75%
3 Bank of America Merrill Lynch 875.05 8 7.85%
4 Citi 847.97 7 7.61%
5 HSBC 818.64 12 7.34%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 JPMorgan 5,718.36 39 11.74%
2 Bank of America Merrill Lynch 4,411.34 37 9.06%
3 Credit Suisse 3,673.68 24 7.54%
4 Citi 3,657.00 24 7.51%
5 Jefferies LLC 3,166.33 8 6.50%