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Commodities traders line up for refinancing

Commodities firms are lining up to tap the syndicated loan market in the first half of the year as a refinancing from the UK’s ED&F Man, launched at the beginning of January, has already attracted commitments from lenders. Stemcor, Trafigura Beheer and Glencore are all set to refinance outstanding facilities that are due to mature soon.

  • 21 Jan 2011

"ED&F Man is the first of the commodity companies to come to market, but they’re all in a long line waiting to follow," said a banker close to the deal. "But these are just part of a very strong pipeline of deals across Europe."

ED&F Man is looking to ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 Citi 3,779 12 18.72
2 Morgan Stanley 2,420 6 11.99
3 Goldman Sachs 2,096 5 10.39
4 BNP Paribas 2,058 7 10.20
5 Barclays 1,565 4 7.75

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1 Citi 50,836.16 165 10.60%
2 JPMorgan 43,849.74 130 9.15%
3 Wells Fargo Securities 37,970.87 112 7.92%
4 Bank of America Merrill Lynch 36,089.91 118 7.53%
5 Credit Suisse 31,628.23 101 6.60%