CVRD and BHP in $120bn clash of mining loans

The investment grade syndicated loan market is facing the prospect of two jumbo mining facilities being syndicated at the same time, after Brazilian group Vale mandated banks to arrange a facility of about $50bn to support any bid it makes for Anglo-Swiss rival Xstrata.

  • 01 Feb 2008

A bid by Vale (formerly CVRD) would follow Anglo-Australian mining group BHP Billiton’s attempts to acquire rival Rio Tinto. BHP Billiton has arranged a loan thought to be $70bn for any formal bid it makes.

EuroWeek understands that seven banks — BNP Paribas, Citigroup, Credit Suisse, HSBC, Lehman Brothers, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,818.31 235 11.64%
2 Bank of America Merrill Lynch 65,088.22 185 9.37%
3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%