Special report — In distress: leveraged loan market grapples with restructuring

A shallow pool of distressed-debt investors, bank lenders postponing inevitable losses and the difficulty of calling a bottom for company valuations are combining to make debt-for-equity restructurings a traumatic process. Tessa Wilkie reports on the outlook for a leveraged loan market attempting to sort out the turmoil of collapsing deals.

  • 16 Mar 2009
Private equity firms and lenders have moved a long way from debates about what deals to do and how much leverage to pour into them. Instead the agenda is dominated by questions over who is prepared to stump up cash to save troubled companies, and who is willing ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%