Vinci in talks with banks for £2.1bn Gatwick M&A debt

Banks are courting France’s Vinci to grab lending spots on the company’s £2.9bn acquisition of a controlling stake in UK airport Gatwick. A bond issue from Vinci is possible in the first half of this year.

  • By Mike Turner
  • 04 Jan 2019

Vinci announced over the Christmas break that it had agreed to buy a 50.01% shareholding in London Gatwick Airport, the UK’s second largest air thoroughfare after Heathrow. The price is between 19 and 20 times Ebitda. 

The deal will be largely financed with debt, with around £2.1bn of acquisition ...

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Global Syndicated Loan Volume

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2 Bank of America Merrill Lynch 88,506.25 276 10.09%
3 Citi 53,799.77 167 6.13%
4 Mizuho 53,040.63 262 6.05%
5 MUFG 45,416.74 401 5.18%

Bookrunners of Middle East and Africa Loans

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3 Citi 1,775.09 5 9.06%
4 African Export-Import Bank - Afreximbank 1,120.44 4 5.72%
5 SG Corporate & Investment Banking 844.06 3 4.31%

Bookrunners of European Leveraged Loans

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2 Goldman Sachs 2,807.00 13 6.84%
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5 Credit Agricole CIB 2,223.61 14 5.42%

Bookrunners of European Marketed Syndicated Loans

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3 UniCredit 8,389.55 43 5.28%
4 Deutsche Bank 8,298.69 30 5.22%
5 Commerzbank Group 7,837.68 40 4.93%

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%