Latest investment grade loans news
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People news in brief
Gaab retires from Deutsche — Bank of America nabs FIG banker from Morgan Stanley — Credit Suisse bumps up IG trading team
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Lufthansa, VC Trade power move will pay off in Schuldschein digital battle
German airline Lufthansa took a daring step in mid-March and decided to launch a Schuldschein transaction exclusively via the digital platform VC Trade. It has proved a shrewd move and will likely be game-changing for VC Trade in the battle for digital dominance.
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Exclusivity pays off as Lufthansa sells SSD
A bid by VC Trade, an emerging technology platform for the Schuldschein market, to overcome resistance and cement its position in the market appears to have paid off this week, as a deal for Lufthansa executed solely via the platform succeeded handsomely. This could prove a turning point for the use of tech in the Schuldschein sector and perhaps other corporate debt markets. Silas Brown reports.
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Deutsche's former loan chief retires
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Matthias Gaab, Deutsche Bank's head of acquisition finance and investment grade loan origination for Germany, Austria and Switzerland, retired on April 1.
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Loans in brief: 18/04/2019
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Kemira switches to sustainability bank facility
Finnish chemical company Kemira has signed a €400m revolving credit facility, becoming the latest firm to switch its bank debt to sustainability-linked margins.
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Kingspan makes €700m bid for Reticel assets
Kingspan, an Irish insulation company, has made a €700m offer for two units of Belgium’s Recticel, but will sell one of them if the deal goes ahead.
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SAINTS goes marching into US PP market
The Scottish American Investment Co (SAINTS), an investment trust managed by Baillie Gifford, has raised £80m of debt in private placements.
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Tired of posting collateral? Take a holiday, say banks to US corporates
Some big, highly rated US companies have in the last few months begun to negotiate 'holidays' from their credit support annexes - the arrangements with banks that protect both sides when they engage in derivatives transactions.
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Lenders put jumbo hopes aside amid mid-market bonanza
German defence firm Krauss-Maffei Wegmann (KMW) has signed a €350m loan, joining Port of Rotterdam and FEV Group in the market for similar sized deals amid a wave of mid-market activity in Europe.
Comment
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Lufthansa, VC Trade power move will pay off in Schuldschein digital battle
German airline Lufthansa took a daring step in mid-March and decided to launch a Schuldschein transaction exclusively via the digital platform VC Trade. It has proved a shrewd move and will likely be game-changing for VC Trade in the battle for digital dominance.
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Bank Profiles
Latest news by market and league table performance
Global Syndicated Loan Volume
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 111,311.05 | 252 | 12.68% |
| 2 | Bank of America Merrill Lynch | 88,506.25 | 276 | 10.09% |
| 3 | Citi | 53,799.77 | 167 | 6.13% |
| 4 | Mizuho | 53,140.63 | 263 | 6.06% |
| 5 | MUFG | 45,516.74 | 402 | 5.19% |
Bookrunners of Middle East and Africa Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | First Abu Dhabi Bank | 2,213.69 | 5 | 11.29% |
| 2 | Standard Chartered Bank | 1,909.62 | 6 | 9.74% |
| 3 | Citi | 1,775.09 | 5 | 9.06% |
| 4 | African Export-Import Bank - Afreximbank | 1,120.44 | 4 | 5.72% |
| 5 | SG Corporate & Investment Banking | 844.06 | 3 | 4.31% |
Bookrunners of European Leveraged Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Deutsche Bank | 3,134.09 | 17 | 7.63% |
| 2 | Goldman Sachs | 2,807.00 | 13 | 6.84% |
| 3 | Bank of America Merrill Lynch | 2,528.72 | 11 | 6.16% |
| 4 | Citi | 2,239.46 | 7 | 5.45% |
| 5 | Credit Agricole CIB | 2,223.61 | 14 | 5.42% |
Bookrunners of European Marketed Syndicated Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 11,525.35 | 30 | 7.25% |
| 2 | BNP Paribas | 8,422.96 | 46 | 5.30% |
| 3 | UniCredit | 8,389.55 | 43 | 5.28% |
| 4 | Deutsche Bank | 8,298.69 | 30 | 5.22% |
| 5 | Commerzbank Group | 7,837.68 | 40 | 4.93% |
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% |
