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 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 %
  • Last updated
  • Today
1 Citi 104,581.71 299 10.94%
2 Bank of America Merrill Lynch 86,347.40 249 9.04%
3 JPMorgan 80,990.39 237 8.47%
4 Wells Fargo Securities 77,934.65 225 8.15%
5 Credit Suisse 63,570.21 165 6.65%