European corporates face Eu565bn refinancing

European companies need to refinance Eu330bn of debt before the end of the year, Standard & Poor’s warned yesterday (Monday). The rating agency added that companies’ refinancing risks were a “significant ratings driver”. S&P, having assessed over 550 European credits that it rates, said in a new report that a further Eu235bn of debt would need to be refinanced in 2010.

  • 31 Mar 2009

“In 2009, our data indicate that companies in the ‘A’ and ‘BBB’ categories have the largest amount of absolute debt to be refinanced — Eu130.5bn and Eu115.4bn respectively,” said Chris Dinwoodie, an S&P analyst. “A similar trend is reflected [for 2010].

“However, refinancing risk in coming quarters is in ...

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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

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1 Citi 2,454.09 9 13.89%
2 JPMorgan 1,441.26 6 8.16%
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3 Rabobank 1,292.64 1 7.32%
5 Bank of America Merrill Lynch 1,226.20 5 6.94%