Hurrah! Underwriting is back for good

The recent underwritten facilities for Premier Oil and K+S were more than just one-off deals. In fact, according to an overwhelming 74% of voters in our poll conducted over the last two weeks, these loans could herald the return of underwriting in Europe — an idea which seemed unthinkable just a few months ago, when many loans bankers predicted such a revival could take over a year.

  • 21 Apr 2009
UK company Premier Oil’s $550m loan became one of the first European underwritten facilities of the year in March — far earlier than many had expected — and the deal was quickly followed by a Eu1.14bn underwritten loan for Germany’s K+S. With only three banks providing the funding ...

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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 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 801.51 2 17.07%
2 Wells Fargo Securities 606.78 3 12.93%
3 Credit Suisse 407.63 1 8.68%
3 Barclays 407.63 1 8.68%
5 Deutsche Bank 331.13 2 7.05%