GKN fires broadside against hostile £7bn Melrose bid

UK engineering group GKN has written a formal letter to its shareholders calling the £7bn plus 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 battle 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 602.50 4 30.64%
2 JPMorgan 412.50 2 20.98%
3 Deutsche Bank 312.50 1 15.89%
3 Citi 312.50 1 15.89%
5 TD Securities Inc 153.97 1 7.83%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 7,774.19 33 7.34%
2 HSBC 7,434.76 18 7.02%
3 First Abu Dhabi Bank 7,164.47 27 6.76%
4 Sumitomo Mitsui Financial Group 6,785.55 14 6.41%
5 Citi 6,751.47 22 6.37%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 21,063.54 101 7.76%
2 JPMorgan 16,658.31 60 6.14%
3 Deutsche Bank 16,649.26 62 6.13%
4 Credit Agricole CIB 16,001.24 81 5.90%
5 UniCredit 14,262.92 85 5.25%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 56,371.71 236 6.79%
2 Credit Agricole CIB 50,115.87 240 6.03%
3 JPMorgan 46,785.38 108 5.63%
4 UniCredit 45,665.76 207 5.50%
5 SG Corporate & Investment Banking 43,321.52 173 5.21%

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%