Latest investment grade loans news
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People moves in brief
Santander hires European ABS trading head – Créd Ag shuffles CIB – Liquidnet appoints president
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Loans in Brief: 15/02/2019
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Welsh housing association debuts in PPs
Grŵp Cynefin, a housing association that manages properties in north Wales, has issued an inaugural sterling debt private placement.
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Barry Callebaut plumps for safer Schuldschein, reaps big harvest
Barry Callebaut has taken €600m across three tranches in one of the biggest international Schuldschein transactions in the last 12 months. The Belgian-French chocolate company now based in Switzerland had roadshowed for a public benchmark sustainable bond in November, but opted instead for its first Schuldschein deal, as the risks of execution in the public market were too great.
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Sixt enters Schuldschein for second time in six months
German car leasing company Sixt has launched a Schuldschein with an initial size of €200m, according to two Schuldschein market participants.
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Ramirent eyes growth with loan refi
Finland’s Ramirent has signed a €185m syndicated loan, early refinancing and increasing the amount of an existing loan as the construction equipment rental company looks to grow after a year of asset sales.
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Germany holds power for ESG loans to soar
German borrowers are finally warming to the idea of taking out loans linked to environmental, sustainable and governance (ESG) targets, and a confluence of complementary factors could serve to strap a rocket to deal volumes.
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Glatfelter switches dollar for euro debt
The US’s Glatfelter has signed $648m-equivalent in revolving and term loans, with the specialty paper company planning to use the euro portion to buy back bonds.
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Highgate joins ranks of private schools to enter US PP market
Highgate School is marketing a US private placement (US PP), according to two US PP players. The market has become a home for private and public schools looking for long term financing.
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Cadent Gas opts for US PPs
Cadent Gas has entered the US private placement (US PP) market via Bank of America Merrill Lynch and Lloyds, according to market participants.
Comment
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Green knowledge is not an efficient market
Biofuels have swollen thanks to policies to combat climate change — even though often, they do not help the problem and can make it worse. This is a shocking record, born of ignorance, both accidental and wilful.
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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 | 32,121.03 | 52 | 15.89% |
| 2 | Bank of America Merrill Lynch | 24,180.32 | 67 | 11.96% |
| 3 | Mizuho | 9,935.55 | 34 | 4.92% |
| 4 | MUFG | 9,018.01 | 64 | 4.46% |
| 5 | Wells Fargo Securities | 8,066.57 | 36 | 3.99% |
Bookrunners of Middle East and Africa Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | MUFG | 766.21 | 2 | 8.47% |
| 1 | First Abu Dhabi Bank | 766.21 | 2 | 8.47% |
| 1 | BNP Paribas | 766.21 | 2 | 8.47% |
| 1 | Abu Dhabi Commercial Bank PJSC | 766.21 | 2 | 8.47% |
| 5 | Standard Chartered Bank | 409.06 | 1 | 4.52% |
Bookrunners of European Leveraged Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Credit Agricole CIB | 484.94 | 3 | 17.32% |
| 1 | BNP Paribas | 484.94 | 3 | 17.32% |
| 3 | SG Corporate & Investment Banking | 194.57 | 2 | 6.95% |
| 3 | HSBC | 194.57 | 2 | 6.95% |
| 5 | Natixis | 174.13 | 2 | 6.22% |
Bookrunners of European Marketed Syndicated Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 6,045.16 | 4 | 18.58% |
| 2 | BNP Paribas | 1,742.18 | 7 | 5.36% |
| 3 | Credit Agricole CIB | 1,539.94 | 8 | 4.73% |
| 4 | MUFG | 1,257.24 | 4 | 3.87% |
| 5 | SG Corporate & Investment Banking | 1,165.08 | 6 | 3.58% |
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% |
