Cigna jumbo loan just a drop in the ocean

US health insurer Cigna has agreed a $26.7bn bridge loan from two banks as part of its deal to buy Express Scripts, in a transaction lenders say highlights how deep liquidity is in the market.

  • By Mike Turner
  • 20 Mar 2018

Morgan Stanley and MUFG will provide the 364 day senior bridge term loan.

“It’s similar ticket sizes that we’ve seen elsewhere in dollars recently,” said a banker at a European house. “There is just so much liquidity, in dollars and euros. I can’t imagine any ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 324,650.64 942 10.69%
2 Bank of America Merrill Lynch 302,911.36 968 9.98%
3 Citi 175,392.54 527 5.78%
4 Wells Fargo Securities 173,027.00 634 5.70%
5 MUFG 124,360.64 714 4.10%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 3,639.74 13 7.32%
2 Citi 3,471.92 10 6.98%
3 JPMorgan 3,173.44 8 6.38%
4 Mizuho 2,968.52 9 5.97%
5 Sumitomo Mitsui Financial Group 2,575.67 5 5.18%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 14,171.81 67 7.07%
2 Credit Agricole CIB 12,127.33 53 6.05%
3 Deutsche Bank 11,901.17 45 5.94%
4 Goldman Sachs 11,327.05 46 5.65%
5 UniCredit 10,733.06 63 5.35%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 34,133.57 140 6.41%
2 JPMorgan 32,550.71 62 6.11%
3 UniCredit 28,539.82 130 5.36%
4 SG Corporate & Investment Banking 28,297.17 109 5.32%
5 Deutsche Bank 26,254.12 90 4.93%

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%