Repricings, div recaps no sweat for levloans, but no flood expected

Aggressive-looking leveraged loan deals for BSN Medical and RAC looked set for success this week as the lack of loan paper weighs on investors. But although bankers expect more companies to try repricings and dividend recaps, they do not see a wave of similar deals coming to market simply because there are not enough credits that are willing and able to carry out such transactions.

  • 12 Oct 2012

German bandage maker BSN Medical is ready to allocate its repriced loans on Friday, while patent management group CPA Global becomes the second European company this month to attempt to reduce its borrowing costs.

UK car breakdown firm RAC’s loan was described as "virtually a done deal" by bankers ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 20,542.69 67 10.85%
2 JPMorgan 18,820.53 50 9.94%
3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%