Second-Lien Loans Back In Vogue?

Second-lien loans are making their first reappearance since that market has been largely dormant for two years.

  • 25 Sep 2009

--Libby Sallaberry

Second-lien loans are making their first reappearance since that market has been largely dormant for two years. Delta Air Lines, Realogy Corp. and Allen Systems have all tapped the credit markets for second-lien loans. While lower in the capital structure, the secured aspect of the loans provides ...

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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 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 128,786.28 373 11.20%
2 Bank of America Merrill Lynch 102,784.89 298 8.94%
3 JPMorgan 100,935.67 292 8.78%
4 Wells Fargo Securities 91,306.23 262 7.94%
5 Credit Suisse 75,962.58 202 6.61%