Top stories
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Eurofins lands €550m Schuldschein, Pirelli €525m as market returns to health
French laboratory testing company Eurofins Scientific and Italian tyre company Pirelli have closed Schuldscheine totalling more than €1bn in the past week.
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Akbank widens loan pricing by 25bp on August refi
Turkey’s Akbank is seeking to refinance a pair of $337m and €515m one year loans signed last August.
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Kartesia plants unitranche for Fertiberia
Investment house Kartesia has provided a unitranche loan for Spanish fertiliser maker Fertiberia to replace part of its debt, as this type of lending becomes more popular in Europe.
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Bank of America Merrill Lynch hires former Barclays levfin head
Bank of America Merrill Lynch said last week that it had hired Jill Schwartz, the former global head of leveraged finance at Barclays. Schwartz has been named executive vice chairman in the firm’s global corporate and investment banking unit.
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Loan market sizzles for Italian names as banks swallow politics
Italian companies are enjoying some time in the loan market sun this week, with facilities for Amplifon, Tecnimont and Tages Helios finding solid support from lenders.
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Amplifon turns up debt with GAES purchase
Hearing aid company Amplifon will buy Spain’s GAES Group in a fully debt-funded acquisition with a €528m enterprise value as Italian companies extend their strong run in the loan market.
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Corrected: Trafigura offers three part dollar and renminbi loan
Commodities trader Trafigura is back in the market with a three tranche loan that will be worth around $1.5bn.
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Kufpec picks banks amid price war in EM loans
Kuwait Foreign Petroleum Exploration Co (Kufpec) has mandated banks for a five year loan of around $1bn, according to two sources.
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EPIF gets huge demand for €1.5bn loan amid deal drought
Czech firm EP Infrastructure has signed a €1.5bn syndicated loan that was subject to heavy scale-backs, after lenders offered the energy infrastructure company double the amount it was looking for.
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Tages Helios loans show growing warmth for Italian borrowers
Rewables fund Tages Helios has taken out five credit lines totalling €452.5m from a syndicate of banks to refinance a portfolio of solar plants, as Italian names continue to win capital markets support despite some investors' distaste for the political direction of the country.
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Eskom gets Chinese loan, thought to consider LM
South Africa’s Eskom has signed a $2.5bn loan from China Development Bank, securing almost two thirds of its funding requirements for the financial year amid speculation that the troubled state run power company might buy back its 2021 bonds.
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Leveraged debt buyers 'ready for much more' to match 2017 record
Investors in the European leveraged finance markets speaking to GlobalCapital said that, while issuance is lagging behind 2017's figures for the period, there is appetite for an increase in supply.
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Poorly drafted loan docs could lead to Libor replacement trouble, warns Fitch
Corporate borrowers are being urged to prepare for the phase out of Libor, but loan documents are not yet up to the job of facilitating an orderly switch to a new rate, warned Fitch Ratings on Tuesday.
Latest loans people news
Investment Grade
Emerging Markets
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Comment
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Social bonds: a young market for the old
Regional governments in several European countries could find problems funding 'the high cost of providing long term care (LTC) for their ageing populations' in the coming years, according to a Moody’s report on Tuesday. If ever there was a perfect market to be funded by the burgeoning social bond sector, this is it.
Loan Ranger
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Loan Ranger: wintry chill
Last week began with a cheery festive glow but soon changed to a cold chill once discussion turned to the challenges facing the market in 2017.
Global Syndicated Loan Volume
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 303,563.55 | 839 | 10.89% |
| 2 | Bank of America Merrill Lynch | 263,405.91 | 879 | 9.45% |
| 3 | Citi | 165,812.86 | 498 | 5.95% |
| 4 | Wells Fargo Securities | 146,002.16 | 572 | 5.24% |
| 5 | MUFG | 113,732.75 | 650 | 4.08% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 32,522.19 | 61 | 6.53% |
| 2 | BNP Paribas | 32,284.10 | 130 | 6.48% |
| 3 | UniCredit | 26,992.47 | 123 | 5.42% |
| 4 | SG Corporate & Investment Banking | 26,569.73 | 97 | 5.33% |
| 5 | Credit Agricole CIB | 23,807.36 | 111 | 4.78% |
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Latest news by market and league table performance
Global Syndicated Loan Volume
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 303,563.55 | 839 | 10.89% |
| 2 | Bank of America Merrill Lynch | 263,405.91 | 879 | 9.45% |
| 3 | Citi | 165,812.86 | 498 | 5.95% |
| 4 | Wells Fargo Securities | 146,002.16 | 572 | 5.24% |
| 5 | MUFG | 113,732.75 | 650 | 4.08% |
Bookrunners of Middle East and Africa Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 3,471.92 | 10 | 7.26% |
| 2 | Standard Chartered Bank | 3,339.74 | 12 | 6.98% |
| 3 | JPMorgan | 3,173.44 | 8 | 6.64% |
| 4 | Mizuho | 2,818.52 | 8 | 5.89% |
| 5 | Sumitomo Mitsui Financial Group | 2,575.67 | 5 | 5.39% |
Bookrunners of European Leveraged Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 13,554.26 | 61 | 7.08% |
| 2 | Deutsche Bank | 11,901.17 | 45 | 6.22% |
| 3 | Credit Agricole CIB | 11,825.01 | 52 | 6.18% |
| 4 | Goldman Sachs | 10,865.30 | 45 | 5.68% |
| 5 | UniCredit | 10,484.86 | 60 | 5.48% |
Bookrunners of European Marketed Syndicated Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 32,522.19 | 61 | 6.53% |
| 2 | BNP Paribas | 32,284.10 | 130 | 6.48% |
| 3 | UniCredit | 26,992.47 | 123 | 5.42% |
| 4 | SG Corporate & Investment Banking | 26,569.73 | 97 | 5.33% |
| 5 | Credit Agricole CIB | 23,807.36 | 111 | 4.78% |
Syndicated Loan Revenue - EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 35.45 | 69 | 6.71% |
| 2 | BNP Paribas | 31.67 | 78 | 5.99% |
| 3 | ING | 31.21 | 74 | 5.90% |
| 4 | Citi | 22.60 | 36 | 4.27% |
| 5 | Deutsche Bank | 21.89 | 32 | 4.14% |
