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Boston Scientific picks Barclays for £3.3bn BTG buy

Boston Scientific, the US medical devices manufacturer, has agreed to buy the UK’s BTG for £3.3bn, with Barclays providing a bridge loan to finance the medical industry transaction and continue the trend of borrowers turning to small banking groups to fund purchases.

  • By Mike Turner
  • 20 Nov 2018

Boston Scientific will buy the UK medical technology group through a newly created company called Bravo Bidco.

Bravo Bidca has offered 840p a share in cash for BTG, a premium of 36.6% to its Monday closing price. The offer is a 51% premium to the acquisition target’s volume-weighted average ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 139,710.15 337 12.16%
2 Bank of America Merrill Lynch 122,359.33 387 10.65%
3 Citi 72,931.66 226 6.35%
4 Mizuho 59,512.46 295 5.18%
5 Wells Fargo Securities 57,927.24 216 5.04%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
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1 First Abu Dhabi Bank 2,413.69 8 10.82%
2 Standard Chartered Bank 2,377.86 7 10.66%
3 Citi 1,793.42 6 8.04%
4 Trade and Development Bank 1,125.64 2 5.05%
4 Standard Bank 1,125.64 2 5.05%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 3,736.52 21 7.15%
2 Credit Agricole CIB 3,101.01 16 5.93%
3 Goldman Sachs 3,092.70 16 5.92%
4 BNP Paribas 2,926.68 24 5.60%
5 Citi 2,758.74 10 5.28%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 12,912.95 35 6.65%
2 BNP Paribas 12,334.48 61 6.35%
3 UniCredit 11,196.47 58 5.77%
4 Citi 9,580.75 37 4.93%
5 Deutsche Bank 8,953.95 35 4.61%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
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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%