Siemens loan a blowout despite 30bp margin

Siemens this week wrapped up its €4bn revolving credit facility with a margin of just 30bp, the tightest European loan pricing so far this year. Such is the strength of top notch German corporate borrowers, however, that the loans market barely batted an eyelid. Some 33 lenders piled into the deal.

  • 13 Apr 2012
"This is obviously setting a benchmark in the syndicated loan market this year," said a banker familiar with the transaction. "It wasn’t aggressive — it fits in quite well with last year’s deals for Volkswagen and so on — and pricing wasn’t an issue for lenders."If that feeling ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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1 Citi 117,398.62 338 11.04%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%