Festive European levfin wipes US jitters

Borrowers and investors marched on in the European leveraged finance markets this week, pricing €1.5bn of high yield bonds while bankers have been able to tighten terms on new loan deals during syndication. Deals pulled earlier in the week in the US are already a fading memory.

  • By Victor Jimenez
  • 16 Nov 2017

“There is no evidence of meaningful impact whatsoever,” said a leveraged finance banker in London, referring to choppy market conditions in the US. “We have seen some idiosyncratic discrimination, but that is good because investors are awake and pick up on potential problems.”

The US high yield ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 6,620.51 23 6.82%
2 Credit Agricole CIB 6,017.39 25 6.20%
3 BNP Paribas 5,819.50 23 5.99%
4 UniCredit 5,441.24 29 5.60%
5 Barclays 5,356.27 15 5.52%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,858.53 33 8.02%
2 JPMorgan 2,667.48 29 7.48%
3 Credit Suisse 2,291.44 22 6.43%
4 Goldman Sachs 2,130.55 21 5.98%
5 Deutsche Bank 1,993.88 21 5.59%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11,652.56 91 9.82%
2 Citi 8,822.41 74 7.44%
3 Barclays 8,072.49 58 6.81%
4 Goldman Sachs 7,786.76 64 6.56%
5 Bank of America Merrill Lynch 7,654.81 72 6.45%