Turkish fears re-intensify, but FIs unscathed as Akbank closes

Akbank has closed an oversubscribed loan, welcoming eight new banks to its syndicate and kickstarting the refinancing season for Turkish banks. The deal was signed amid increasing market uncertainty in Turkey, with the lira having weakened and uncertainty surrounding local elections this weekend.

  • By Mariam Meskin
  • 27 Mar 2019

Akbank closed the syndication at $700m-equivalent, after launching the initial refi at $600m. That was smaller than the deal it was refinancing, which was $1.2bn, of which $900m-equivalent was in the tranches being refinanced this time. The rest will be refinanced next ...

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 281,090.79 775 11.17%
2 Bank of America Merrill Lynch 262,220.47 804 10.42%
3 Citi 161,552.26 479 6.42%
4 Wells Fargo Securities 144,519.55 546 5.74%
5 MUFG 128,529.79 736 5.11%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 First Abu Dhabi Bank 3,439.28 15 7.75%
2 Standard Chartered Bank 3,038.82 11 6.85%
3 Sumitomo Mitsui Financial Group 2,713.59 10 6.11%
4 Mizuho 2,626.00 11 5.92%
5 Citi 2,349.19 11 5.29%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 8,888.30 60 6.85%
2 Deutsche Bank 8,575.51 45 6.61%
3 Credit Agricole CIB 8,336.05 46 6.42%
4 JPMorgan 7,620.98 38 5.87%
5 Goldman Sachs 7,362.10 39 5.67%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 33,643.72 149 7.28%
2 Credit Agricole CIB 33,397.69 144 7.23%
3 JPMorgan 25,483.12 69 5.52%
4 Bank of America Merrill Lynch 23,368.44 65 5.06%
5 SG Corporate & Investment Banking 22,643.54 106 4.90%

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%