Top stories

  • Appetite for floating rate feeds new levfin deals

    Leveraged borrowers Adb Safegate and Groupe Ecore had active euro roadshows for floating rate debt, keeping the leveraged finance markets open this week.

    • 12 Nov 2018
  • Mixed reaction for first blockchain loan

    Spain’s Red Electrica Corporation has signed the first ever syndicated loan on a blockchain, though some loans officials away from the deal question how useful the technology will be in its goal of reducing transaction times.

    • 12 Nov 2018
  • Europe’s ‘market trap’ biggest threat to leveraged covenants

    A combination of high demand, asymmetric advice and aggressive borrowers is crushing protection terms for leveraged loan investors in Europe, according to fund managers, analysts and lawyers. But the level of demand means that more cov-lite deals emerged this week.

    • 08 Nov 2018

  • Fears bankers on block as lenders miss budgets

    Loans bankers are preparing to file figures that are up to 30% below budget this year, with some lenders saying the shortfall of deals is already having an impact on staffing at some banks. Michael Turner reports.

    • 08 Nov 2018
  • Brexit barriers could impact Sonia, says BoE group

    The sterling overnight index average (Sonia), the rate chosen to replace sterling Libor by regulators, may suffer from a “bifurcation of… sterling money markets” after Brexit, according to a Bank of England Sonia Oversight Committee.

    • 08 Nov 2018
  • Apollo adds CMBS carveout to LifePoint high yield bonds

    The high yield bonds being issued to support Apollo’s acquisition of hospital group LifePoint Health include carve-outs that allow the private equity firm to pay itself dividends by securitizing LifePoint’s property and equipment without falling foul of additional debt and restricted payments covenants.

    • 07 Nov 2018
  • Tritax EuroBox puts loan funding to use

    The newly formed Tritax EuroBox is buying a real estate asset in Germany, weeks after the European arm of the UK logistics company signed its debut revolving credit facility.

    • 07 Nov 2018
  • Apax switches out lenders

    A fund owned by Apax Partners has signed a €140m-equivalent revolving credit facility, with the private equity firm switching lenders for the deal.

    • 07 Nov 2018
  • US PP market relishes its resilience, looks on to the March of Brexit

    The US private placement (US PP) market considers itself well placed for the volatility surrounding Britain’s expected departure of the European Union on March 29, and participants expect additional deal flow as a consequence.

    • 06 Nov 2018
  • LMA produces SSD docs, user guide

    The Loan Market Association on Wednesday published a user guide for Schuldschein deals in a move that market participants said will make the market more approachable to international borrowers while maintaining its culture and standards.

    • 31 Oct 2018
  • Takeda leans on local banks for more Shire funding

    Japan’s Takeda Pharmaceutical Co has signed $8.8bn-equivalent of loans as it continues to build up its cash pile to finance the $62bn acquisition of Ireland’s Shire.

    • 31 Oct 2018
  • Shadow of cycle change shakes investors

    Corporate debt investors have the jitters, with fears over a potential wave of defaults and low levels of recovery expected to materialise following a trend towards covenants that offer them ever less protection spreading from the leveraged finance world to the wider market.

    • 31 Oct 2018
  • Brazil and Mexico bring new directions to Lat Am

    The biggest decisions facing EM investors this week involve taking a fundamental view on Latin America's two largest economies: Brazil and Mexico. But even with that distraction, the new issue market is churning away.

    • 31 Oct 2018
  • LaoVietBank debuts with $100m borrowing

    Lao Viet Joint Venture Bank is seeking its first international loan of up to $100m through sole mandated lead arranger and bookrunner Cathay United Bank.

    • 31 Oct 2018
  • Blame private equity for the state of levfin

    Central banks and international financial institutions have raised a storm over vanishing investor protection covenants in leveraged loans. But most warnings about the market have avoided assigning blame where it is richly deserved — to the private equity industry.

    • 30 Oct 2018
  • TRG pays bill with debt and rights issue

    The UK’s The Restaurant Group (TRG) has agreed to buy compatriot pan-Asian dining chain Wagamama, and is set to finance the bulk of the deal by raising £535m through new debt and a rights issue.

    • 30 Oct 2018
  • Guodong beams €150m maiden loan to lenders

    China's Guodong Network Communications is seeking a debut loan of up to €150m ($170m) in syndication.

    • 30 Oct 2018
  • SSA funding official moves to corporate market

    A funding official at KfW has switched to the corporate sector.

    • 30 Oct 2018
  • Ukraine’s Kernel extends $200m PXF

    Kernel, the Ukrainian powerhouse producer of sunflower oil and agricultural products, has boosted and extended its $200m pre-export revolving credit facility.

    • 29 Oct 2018

The GlobalCapital View logo   Comment

  • Cash on the blockchain: banks must catch up

    A reliable way to settle fiat currency transactions on blockchain is the biggest obstacle holding back the financial services industry from realising the benefits of blockchain. More and more organisations are coming up with solutions, so where are the banks?

    • 11 Sep 2018
  • 10 things that changed in 10 years that had nothing to do with Lehman

    Imagining capital markets and investment banking in 2018 without the global financial crisis is a big leap. The chaos and turmoil of 2008 deeply scarred traders, bankers and regulators and defined the intellectual imperatives for the changes that followed — the wholesale revamp of prudential and markets regulation, the bailouts, the reorganisations, the new monetary tools and new ways of seeing the world. But the past 10 years haven’t all been about the crisis.

    • 11 Sep 2018

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   Loan Ranger

  • 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.

    • 12 Dec 2016

more Loan Ranger


Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 408,616.30 1152 10.90%
2 Bank of America Merrill Lynch 371,903.67 1183 9.92%
3 Citi 228,819.66 662 6.10%
4 Wells Fargo Securities 209,330.31 765 5.58%
5 MUFG 158,192.59 964 4.22%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 408,616.30 1152 10.90%
2 Bank of America Merrill Lynch 371,903.67 1183 9.92%
3 Citi 228,819.66 662 6.10%
4 Wells Fargo Securities 209,330.31 765 5.58%
5 MUFG 158,192.59 964 4.22%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 6,061.47 20 7.60%
2 HSBC 5,941.43 15 7.45%
3 JPMorgan 5,279.69 14 6.62%
4 Sumitomo Mitsui Financial Group 4,870.55 10 6.10%
5 Mizuho 4,566.75 13 5.72%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,968.83 86 7.91%
2 JPMorgan 15,967.87 54 6.66%
3 Deutsche Bank 14,910.43 52 6.22%
4 Credit Agricole CIB 13,287.71 61 5.54%
5 Goldman Sachs 12,997.24 58 5.42%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2016
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%