PGS pulls refi citing ‘weaker investor sentiment’

Norwegian oilfield services firm Petroleum Geo Services has pulled its planned refinancing, citing "increased volatility in the capital markets" and "weaker investor sentiment towards oil field service".

  • By Owen Sanderson
  • 20 Jun 2019

The company announced in late May that it planned to refinance its capital structure, paying back a $212m 2020 bond, its $380m 2021 term loan B, and part of its drawn revolver.

Barclays was arranging the package, which included a $525m first lien loan and $250m revolver, ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 5,589.28 27 6.76%
2 Goldman Sachs 5,188.98 27 6.28%
3 Credit Agricole CIB 4,896.05 28 5.93%
4 BNP Paribas 4,889.41 39 5.92%
5 Deutsche Bank 4,671.96 29 5.65%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Deutsche Bank 2,970.40 18 7.58%
2 Citi 2,783.23 20 7.10%
3 BNP Paribas 2,674.33 25 6.82%
4 JPMorgan 2,602.43 20 6.64%
5 Goldman Sachs 2,523.29 20 6.44%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 16,238.30 131 10.01%
2 Citi 14,667.10 123 9.04%
3 Bank of America Merrill Lynch 12,173.13 103 7.51%
4 Goldman Sachs 11,917.27 92 7.35%
5 Morgan Stanley 9,465.81 73 5.84%