Loan Ranger: Oil Asset Addicts Anonymous

Angry environmentalists, worried pension-holders, an under-pressure US president and the oil-coated brown pelican — nobody is happy about the massive Deepwater Horizon oil spill in the Gulf of Mexico. Nobody that is, except some loans bankers, who are overjoyed by the asset-backed $5bn loan from BP subsidiaries BP Caspian and BP Angola.

  • 27 Aug 2010

Loans-starved banks are jumping on the deal. “This is great for the loan market,” one banker told Loan Ranger. “If it wasn’t for the oil spill, there’s no way BP would have even thought of doing PXFs.”

Tonto was less than impressed. “Bring on the four horsemen of ...

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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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,723.52 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%