Indian Oil gives international banks public sector exposure

Loans bankers could have a new source of income in 2011: India’s public sector companies. State-owned Indian Oil Corp has mandated five bookrunners to syndicate a $500m loan — and bankers hope it will lead to more Indian borrowers turning to wider syndications rather than relying on one or two big lenders.

  • 06 Jan 2011

BNP Paribas, Bank of Tokyo-Mitsubishi, Mizuho, State Bank of India and SMBC are running Indian Oil’s five year deal which is expected to launch within "the next week or so", according to a banker close to the deal.

The decision to mandate a larger group of bookrunners marks ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 12,356.92 41 13.22%
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3 Barclays 8,716.58 27 9.33%
4 JPMorgan 7,774.38 29 8.32%
5 Wells Fargo Securities 7,444.83 29 7.97%