Top stories

  • MET Group’s debt-financed growth powers on

    MET Group, the Swiss-headquartered but eastern Europe-focused energy company, has signed a €112m term loan, as part of a wider debt funding drive in which it has recently raised soft currency project financing and a euro revolving credit facility.

    • 10 Jul 2018

  • Riwal ramps up revolver

    The Netherland’s Riwal Holding Group has substantially increased the size of its revolving credit facility, refinancing its bank debt early as terms in the slow primary market continue to be weighted in favour of borrowers.

    • 10 Jul 2018
  • Andritz seeks Schuldschein for M&A with novel maturity range

    Austrian machinery maker Andritz has launched a €300m four tranche Schuldschein, with tranches of seven years and 7.75 years. A banker said the intention was to see if lenders could be lured further out along the maturity curve.

    • 10 Jul 2018
  • PLN surprises with tight pricing on $2bn debut

    Indonesian power company Perusahaan Listrik Negara is seeking an up to $2bn debut loan, but has surprised some bankers with the tight pricing on offer.

    • 10 Jul 2018
  • Corrected: Aegis closes $150m LBO loan after seven-month syndication

    Indian business process outsourcing company Aegis has closed a $150m leveraged buyout loan after a seven-month syndication process that attracted only three participants.

    • 10 Jul 2018
  • Atlantia heads back to loans to refi bridge

    Italy’s Atlantia has refinanced an acquisition bridge facility with a €1.75bn five year term loan that was priced well below where the company sold 10 year bonds this time last year.

    • 09 Jul 2018
  • EQT allocates large Azelis buyout loan in private

    Specialty chemicals distributor Azelis offered a €1bn loan deal to fund its acquisition by EQT this week. It has pre-placed almost half of it amid widening margins in the European leveraged loan market.

    • 09 Jul 2018
  • Turkish bank liquidity strong but cracks start to show

    Turkish banks have enough foreign currency liquidity to withstand a prolonged capital market shut out, according to ING. While this remains unlikely, small signs of deterioration have begun to show in terms for the biggest source of FX funding in the country’s banking system - syndicated loans.

    • 09 Jul 2018
  • Glencore fights again for IG status as its CDS gaps out

    It is common for a firm to have an association with an adjective. The description is often derogatory, so acquisitive companies are often said to be rapacious. For Glencore, the commonly used adjective is secretive.

    • 05 Jul 2018
  • Goldman loses Novo Banco court claim

    On Wednesday the UK’s final court of appeal rejected Goldman Sachs’s attempt to recover money lost on a loan to Banco Espírito Santo through the British courts. The judge said the EU’s framework for dealing with failing banks might be undermined if the actions of resolution authorities could be challenged outside of their home country.

    • 05 Jul 2018
  • ‘Malicious’ Lazard rumours send Bahrain to mat again

    Bahraini sovereign bonds fell victim to “malicious rumours” this week after they took a further battering following headlines that Lazard had been appointed as an adviser to the country. The firm, which advises on debt restructuring among other things, was in fact appointed in early May and has been advising the country on its economy for several months, according to a source with knowledge of the matter. Virginia Furness and Michael Turner report.

    • 05 Jul 2018
  • Loans in brief - July 5, 2018

    • 05 Jul 2018
  • Sainsbury’s and Vedanta keeps sterling M&A financing at multi-year high

    Retailer J Sainsbury and metals tycoon Anil Agarwal kept sterling denominated M&A running at full pace this week, after a quarter with the biggest volume of loans in the currency in five years.

    • 05 Jul 2018
  • Nets snares M&A funding

    Digital payment company Nets has agreed a €515m financing package, as the private equity owned Nordic company prepares to merge with Germany’s Concardis Payment and buy Poland’s Dotpay.

    • 05 Jul 2018
  • Sainsbury’s rings up £3.5bn Asda loan

    UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.

    • 05 Jul 2018
  • HSBC throws hat into digital Schuldschein ring

    HSBC Germany has launched a digital platform for Schuldschein issuance called Synd-X, following in the footsteps of Helaba and LBBW. But unlike its German peers, it aims to preserve the role of banks as gatekeepers to the market.

    • 05 Jul 2018
  • Investment banks beef up for take-private bonanza

    Banks have been hiring staff to help financial sponsors hunt jumbo take-private deals as opportunities dry up elsewhere, writes David Rothnie.

    • 05 Jul 2018
  • Bailed out Bahrain about the only game in town in EM loans

    A handful of deals from Bahrain and the CIS region is all there is to keep emerging markets loans bankers busy over the next six to eight weeks, with many already heading off for summer breaks as volumes and near term pipelines dwindle to almost zero.

    • 05 Jul 2018
  • Rémy Cointreau refills its bank debt

    Beverage company Rémy Cointreau has signed a €100m syndicated loan, with a pricing structure that could see the margin on the debt plunge by more than 70% if certain conditions are met.

    • 04 Jul 2018
  • Schroder REIT eyes interest rate rise with loan refi

    UK Reit Schroder Real Estate Investment Trust (SREIT) has refinanced £149.6m of loan debt, cutting fixed interest costs and stretching out duration as the firm looks to mitigate interest rate risk.

    • 04 Jul 2018
  • CVC takes pushback for Mehiläinen loan on the chin

    Investors have squeezed better terms out of Mehiläinen, the Finnish healthcare group seeking a €1bn loan to finance its acquisition by CVC.

    • 04 Jul 2018
  • Southern Gas Corridor gets $750m loan as deliveries start

    Southern Gas Corridor, the 3,500km pipeline system costing $45bn that will run through Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania and Italy, has signed a syndicated loan with guarantees totalling $750m-equivalent, as it begins its first commercial deliveries to Turkey.

    • 04 Jul 2018

The GlobalCapital View logo   Comment

  • 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.

    • 03 Jul 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

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Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 270,923.56 738 11.02%
2 Bank of America Merrill Lynch 240,665.39 782 9.79%
3 Citi 147,851.14 439 6.01%
4 Wells Fargo Securities 131,650.61 513 5.35%
5 Mitsubishi UFJ Financial Group 104,809.11 599 4.26%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,830.94 52 6.96%
2 BNP Paribas 28,123.74 109 6.56%
3 UniCredit 21,895.45 101 5.11%
4 Credit Agricole CIB 21,885.13 102 5.11%
5 SG Corporate & Investment Banking 21,814.64 83 5.09%

Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 270,923.56 738 11.02%
2 Bank of America Merrill Lynch 240,665.39 782 9.79%
3 Citi 147,851.14 439 6.01%
4 Wells Fargo Securities 131,650.61 513 5.35%
5 Mitsubishi UFJ Financial Group 104,809.11 599 4.26%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 3,844.39 11 8.66%
2 Citi 3,454.07 9 7.78%
3 JPMorgan 3,130.58 7 7.05%
4 Mizuho 2,575.67 6 5.80%
5 HSBC 2,441.65 6 5.50%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 11,783.36 49 7.37%
2 Credit Agricole CIB 11,017.21 47 6.90%
3 Deutsche Bank 9,213.50 34 5.77%
4 HSBC 8,442.65 35 5.28%
5 UniCredit 8,427.21 49 5.27%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,830.94 52 6.96%
2 BNP Paribas 28,123.74 109 6.56%
3 UniCredit 21,895.45 101 5.11%
4 Credit Agricole CIB 21,885.13 102 5.11%
5 SG Corporate & Investment Banking 21,814.64 83 5.09%

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%