Loans backing dividend recaps rise

Loans backing dividend recapitalisations have reached their highest volume on record for the third quarter, as private equity firms continue to hold on to their assets rather than sell at a discount.

  • By Olivier Holmey
  • 15 Oct 2013

Globally, financial sponsor-related loans to finance dividend payouts totalled $10.5bn between July and September 2013, according to a report published by Dealogic on Tuesday. This is 15% up on the same period last year, though less than in the second quarter and other quarters in the past.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 1,505.59 4 23.31%
2 SG Corporate & Investment Banking 1,292.64 1 20.01%
2 Rabobank 1,292.64 1 20.01%
4 BNP Paribas 598.25 2 9.26%
5 TD Securities Inc 241.54 1 3.74%