Dollar demand swarms for aggressive LBO debt

US investors have scrambled for the bonds and loans backing leveraged buyouts of Thomson Reuters’ Financial & Risk business and Dutch chemical company AkzoNobel, with pricing coming tighter than initial thoughts despite aggressive covenant packages.

  • By David Bell
  • 19 Sep 2018

The $13.5bn of debt backing Blackstone’s acquisition of Financial & Risk, which will be renamed Refinitiv, was priced on Tuesday while books on AkzoNobel’s €6.5bn equivalent funding package for its buyout by Carlyle are set to close on Thursday.

The price movements in the Refinitiv deal showed that ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Agricole CIB 484.94 3 17.32%
1 BNP Paribas 484.94 3 17.32%
3 SG Corporate & Investment Banking 194.57 2 6.95%
3 HSBC 194.57 2 6.95%
5 Natixis 174.13 2 6.22%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 646.47 4 14.03%
2 Deutsche Bank 449.87 3 9.77%
3 UniCredit 362.37 2 7.87%
3 Intesa Sanpaolo SpA 362.37 2 7.87%
5 BNP Paribas 336.21 2 7.30%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,552.57 23 10.91%
2 JPMorgan 2,878.04 21 8.84%
3 Morgan Stanley 2,505.68 17 7.69%
4 Credit Suisse 2,364.95 15 7.26%
5 Goldman Sachs 2,331.78 17 7.16%