US mezz funds talk to anguished LBO arrangers as Europeans hang back

Arrangers of at least two of the five hung high yield bridge loans in Europe are talking to US mezzanine funds about reducing — or wiping out entirely — the debt they will have to refinance with public high yield bonds. According to market participants, at least three US funds are involved in the discussions.

  • 07 Oct 2011

The negotiations may determine how much of the estimated €5bn backlog of LBO debt banks can get off their books before the end of the year — and how severely their profits will be hit
by the sweeteners needed to do so.

Banks have been hoping that mezzanine finance ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,812.99 65 5.33%
2 UniCredit 11,671.56 81 5.27%
3 LBBW 10,602.04 69 4.78%
4 UBS 10,527.02 56 4.75%
5 Natixis 10,172.53 55 4.59%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,452.22 326 6.16%
2 Citi 76,075.69 384 6.13%
3 Bank of America Merrill Lynch 74,603.42 292 6.01%
4 Goldman Sachs 69,416.43 576 5.60%
5 Morgan Stanley 64,371.16 356 5.19%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 62,822.27 229 10.68%
2 Bank of America Merrill Lynch 62,492.06 243 10.63%
3 Citi 59,201.18 286 10.07%
4 Goldman Sachs 52,647.10 511 8.95%
5 Morgan Stanley 49,826.68 275 8.47%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,428.28 28 7.08%
2 LBBW 5,910.59 25 5.63%
3 UniCredit 5,756.33 23 5.48%
4 Deutsche Bank 5,667.40 19 5.40%
5 Commerzbank Group 5,647.34 22 5.38%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,584.11 21 12.84%
2 Barclays 4,776.16 18 8.08%
3 Credit Suisse 4,490.78 15 7.60%
4 BNP Paribas 4,171.68 19 7.06%
5 UBS 3,877.49 18 6.56%