Stricken by loans, firms turn to equity market

Several western European borrowers are turning to rights issues to pay down their syndicated loans, a stark reminder of the poor refinancing prospects for triple-B credits and the difficulties they face staying within their covenants.

  • 30 Jan 2009
Rio Tinto, the Anglo-Australian miner, Xstrata, the Anglo-Swiss mining group, and Cookson, the UK building materials company, this week each announced an equity raising or the possibility of such a move.Rio Tinto said on Wednesday that it was considering a A$6bn ($4bn) rights issue to help take out ...

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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 %
  • Last updated
  • Today
1 Citi 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%