Poor loan supply could help Melco’s jumbo

Melco Crown Entertainment could be helped by the weak supply of Asian loans over the last few months, as bankers that have struggled to generate bookrunner slots start to lower their expectations and resign themselves to getting lesser positions on loans.

  • 13 Nov 2012
Studio City, the latest Melco Crown development in Macau, is pitching both bond investors and loans bankers at the same time, after kicking off the roadshow for an $825m bond at the same time that bankers attempt to generate demand for a selldown of part of a $1.4bn ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 69,085.90 230 10.50%
2 JPMorgan 63,371.79 193 9.63%
3 Wells Fargo Securities 50,770.30 154 7.72%
4 Bank of America Merrill Lynch 50,413.91 166 7.66%
5 Credit Suisse 45,852.68 144 6.97%