Deal famine risks taking leveraged loan market into dangerous waters

The simple fact of demand outstripping supply — as evidenced by big cuts in margins in deals for Mivisa and Reynolds — is damaging the recovery of the leveraged loan market, bankers said this week.

  • 18 Feb 2011

Investor demand was such that the bookrunners on loans backing the LBO of Spanish tin can producer Mivisa were able to reverse flex the facility for the second time in as many weeks.

Meanwhile bookrunners on the Reynolds $2.7bn refinancing have been able to slash pricing by up ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,881.49 152 10.95%
2 JPMorgan 40,615.47 114 9.29%
3 Wells Fargo Securities 37,061.63 106 8.48%
4 Bank of America Merrill Lynch 32,097.67 104 7.34%
5 Credit Suisse 28,257.94 85 6.46%