Stada’s €5bn LBO to heat up post-summer pipeline

The European leveraged finance markets are licking their lips in anticipation of a new €2.5bn deal backing Bain and Cinven’s takeover of Stada Arzneimittel, the German generic drug manufacturer.

  • By Victor Jimenez
  • 12 Jul 2017

The two private equity firms increased Stada’s takeover valuation by €16m on Monday, raising their new bid from €66 a share to €66.25. Stada’s board backed the raised offer. 

However, the increased offer represents a second bid in just two weeks and will need Germany’s federal financial supervisory authority ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 1,659.34 6 7.12%
2 ING 1,631.78 5 7.00%
3 Goldman Sachs 1,565.51 5 6.72%
4 Deutsche Bank 1,532.98 4 6.58%
5 Citi 1,439.08 6 6.17%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 923.77 9 8.85%
2 Morgan Stanley 732.63 4 7.02%
3 Goldman Sachs 657.29 6 6.30%
4 Credit Suisse 577.70 7 5.53%
5 JPMorgan 572.76 6 5.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,599.75 33 9.01%
2 Citi 4,085.51 32 8.01%
3 Credit Suisse 3,835.38 26 7.52%
4 Wells Fargo Securities 3,248.55 24 6.37%
5 Barclays 2,770.29 16 5.43%