DRT in potential levfin M&A deal pipeline

Private equity firm Ardian is ready to tap Europe’s leveraged finance markets to fund the acquisition of a controlling stake in Dérivés Résiniques et Terpéniques (DRT), the French plant chemistry specialist, but there are mixed views on the outlook for further M&A-fuelled leveraged finance activity.

  • By David Bell, Victor Jimenez
  • 30 Nov 2017

Ardian has already received bridge funding for the buyout from BNP Paribas, Crédit Agricole and Société Générale, it said on Thursday. The operation values the Landes-based business at €1bn. Tikehau, the seller, would be on course to make €150m of capital gains. 

DRT joins ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 6,104.35 21 6.44%
2 Credit Agricole CIB 6,017.39 25 6.35%
3 BNP Paribas 5,679.50 22 5.99%
4 UniCredit 5,441.24 29 5.74%
5 Barclays 5,256.27 14 5.55%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,858.53 33 8.03%
2 JPMorgan 2,667.48 29 7.49%
3 Credit Suisse 2,291.44 22 6.44%
4 Goldman Sachs 2,130.55 21 5.98%
5 Deutsche Bank 1,993.88 21 5.60%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11,523.06 89 9.90%
2 Citi 8,704.15 72 7.48%
3 Barclays 8,022.99 57 6.89%
4 Goldman Sachs 7,624.26 63 6.55%
5 Bank of America Merrill Lynch 7,343.56 69 6.31%