GKN sets out final arguments against hostile Melrose bid

UK engineering group GKN has written a formal letter to its shareholders calling the £7bn+ debt-financed hostile takeover bid from industrial conglomerate Melrose 'low price and high risk', prompting yet another quick fire public response from the potential buyer.

  • By Michael Turner
  • 15 Feb 2018

Loans bankers are keeping a close eye on the unfolding public spat between the two companies’ boards, with bankers expecting the fresh debt raised to be “substantial”.

In response to the GKN letter, Melrose confirmed that it has debt lined up on investment grade terms to pay ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 168,369.90 494 11.01%
2 JPMorgan 160,579.35 468 10.50%
3 Wells Fargo Securities 83,618.89 315 5.47%
4 Citi 78,986.63 259 5.16%
5 Mitsubishi UFJ Financial Group 70,981.89 476 4.64%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 2,942.31 6 10.08%
2 JPMorgan 2,618.81 5 8.97%
3 Standard Chartered Bank 2,514.82 6 8.62%
4 HSBC 2,341.67 5 8.02%
5 Mizuho 2,238.89 4 7.67%

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 Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26,573.45 32 9.73%
2 Citi 16,837.08 38 6.17%
3 SG Corporate & Investment Banking 15,661.30 47 5.73%
4 Deutsche Bank 14,193.64 44 5.20%
5 Bank of America Merrill Lynch 13,028.84 31 4.77%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2016
1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%