Deadline looms for ‘Project Embarrassment’

Porsche has asked its banks to commit to an Eu8.5bn refinancing facility by Tuesday (November 10), as it seeks to reduce its existing Eu10.75bn loan as part of its integration into the Volkswagen group.

  • 06 Nov 2009
Citi, Deutsche Bank and UBS are co-ordinating the deal and will only target the sports carmaker’s existing lenders, which are expected to reduce their commitments pro-rata. After holding a bank meeting with the co-ordinators last Friday (November 30) Porsche wants the new deal agreed, though not necessarily closed, ...

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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 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 104,427.74 298 10.96%
2 Bank of America Merrill Lynch 86,347.40 249 9.06%
3 JPMorgan 80,990.39 237 8.50%
4 Wells Fargo Securities 77,934.65 225 8.18%
5 Credit Suisse 63,570.21 165 6.67%