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 Citi 4,296 9 13.65
2 BNP Paribas 3,026 10 9.61
3 Bank of America Merrill Lynch (BAML) 2,411 8 7.66
4 Lloyds Bank 2,213 9 7.03
5 Credit Agricole 2,025 6 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 37,494.89 105 12.02%
2 Bank of America Merrill Lynch 30,932.47 87 9.92%
3 Wells Fargo Securities 26,900.77 74 8.62%
4 JPMorgan 23,547.25 70 7.55%
5 Credit Suisse 19,951.44 47 6.40%