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‘Fantastic’ bonds kick Roche loan into touch

Roche’s plans for a jumbo loan have been thrown into doubt after the Swiss drugs group issued more than $14bn of bonds in Europe this week, adding to the $16bn trade it made last week in the US. The bonds mean Roche has little need to tap the bank market to fund its $42bn hostile bid for Genentech.

  • 26 Feb 2009

The borrower has said that as well as using cash to fund its $86.50 a share offer, it might also issue CP.

“I have absolutely no idea if there will be a loan anymore,” said a banker from an institution set to be one of the lead banks on ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
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1 Citi 129,591.43 378 11.20%
2 Bank of America Merrill Lynch 103,557.15 301 8.95%
3 JPMorgan 101,741.96 296 8.79%
4 Wells Fargo Securities 91,373.90 263 7.90%
5 Credit Suisse 76,186.18 204 6.58%