• Lantmännen launches Schuldschein as market heads North

    Swedish agricultural co-operative Lantmännen launched a €100m dual currency Schuldschein on Friday, as the Schuldschein product makes ground in the Nordic region.

    • 23 Feb 2018
  • Phoenix Group cheers capital markets with M&A financing

    Phoenix Group, the UK life assurance fund consolidator plans to raise £1.5bn of underwritten debt to part-fund its £3.24bn cash and shares acquisition of Standard Life Aberdeen’s insurance business, in what is likely to be one of the biggest sterling acquisitions this year.

    • 23 Feb 2018
  • EG Group ramps up acquisition spree with third deal

    UK petrol station operator EG Group has announced a third debt-financed acquisition, heaping further pressure on its credit metrics, which rating agencies have already warned are under strain.

    • 22 Feb 2018
  • Broadcom offer under pressure as Qualcomm sweetens NXP bid

    US chipmaker Qualcomm has improved its offer for NXP Semiconductors by 16%, leaving Broadcom “evaluating its options” over its $121bn hostile bid for Qualcomm and putting the possibility of a record-breaking syndicated financing on shaky ground.

    • 22 Feb 2018
  • Technology seen as key to growth for European PP markets

    The use of technology to drive down the cost of issuance could boost the growth of private debt markets across Europe, said a report commissioned by the Capital Markets Union (CMU) published on February 16.

    • 22 Feb 2018
  • Sterling on the rise in US PP market

    US private placement investors are becoming more comfortable with buying sterling tranches, which bankers said will drive pricing down for borrowers.

    • 22 Feb 2018
  • El Corte packs in more lenders to new facility

    El Corte Inglés, Europe’s largest department store group, has attracted 10 more lenders to the top line of a €3.65bn funding package, ahead of the transaction being launched into general syndication.

    • 22 Feb 2018
  • Foreign bankers sceptical as IRFC eyes Japanese for 10 year loan

    Indian Railway Finance Corp has turned heads in the loan market with its request for up to $250m of 10 year money. While some market participants balked at the idea of 10 year commercial loans, those at the firm’s main target audience — Japanese banks — think the deal is worth a look. Shruti Chaturvedi reports.

    • 22 Feb 2018
  • Broadcom offer under pressure as Qualcomm sweetens NXP bid

    US chipmaker Qualcomm has improved its offer for NXP Semiconductors by 16%, leaving Broadcom “evaluating its options” over its $121bn hostile bid for Qualcomm and putting the possibility of a record-breaking syndicated financing on shaky ground.

    • 21 Feb 2018
  • EG Group ramps up acquisition spree with third deal

    UK petrol station operator EG Group has announced a third debt-financed acquisition, heaping further pressure on its credit metrics, which rating agencies have already warned are under strain.

    • 21 Feb 2018
  • IRFC has 'fingers crossed' for $250m 10 year loan

    Indian Railway Finance Corp has approached offshore lenders for a financing of up to $250m-equivalent in Japanese yen. But the company may struggle to generate demand from maturity-shy Japanese lenders, said a banker familiar with the deal.

    • 20 Feb 2018
  • Time for Asian loans to shine

    The Asian loan market has had to battle a tough few years, with record volumes in 2014 tailed by four straight annual declines. But loans bankers in the region have a feeling their time may have come.

    • 20 Feb 2018
  • Leonardo homes in on cheaper revolver

    Leonardo, the Italian defence company, has agreed a €1.8bn five year revolver 25bp cheaper than the facility it is replacing, making it the latest crossover borrower to negotiate better terms for itself in a refinancing.

    • 19 Feb 2018
  • Broadcom's $100bn megaloan structure and spread emerge

    Details have emerged of Broadcom’s record-breaking $100bn financing package for its acquisition of chipmaker Qualcomm. It is paying 100bp over Libor for the biggest two tranches.

    • 19 Feb 2018
  • REWE reaches €1bn in Schuldschein market

    German supermarket group REWE has doubled its initial target size of €500m, becoming the first corporate in 2018 to place a €1bn Schuldschein loan.

    • 19 Feb 2018
  • Unholy trinity threatens Europe's loan market

    The European syndicated loan market is facing an unprecedented structural challenges this year, leaving market participants unsure what the usually steady corner of the capital markets might look like by Christmas, writes Michael Turner.

    • 15 Feb 2018
  • Broadcom gets record $100bn loan for Qualcomm buy

    US chip maker Broadcom has received commitments for a staggering $100bn funding package for its acquisition of technology company Qualcomm, with the companies meeting for the first time a few days after the record financing was announced.

    • 15 Feb 2018
  • GKN fires broadside against hostile £7bn Melrose bid

    UK engineering group GKN has written a formal letter to its shareholders calling the £7bn plus debt-financed hostile takeover bid from industrial conglomerate Melrose 'low price and high risk', prompting yet another quick fire public response from the potential buyer.

    • 15 Feb 2018
  • GKN sets out final arguments against hostile Melrose bid

    UK engineering group GKN has written a formal letter to its shareholders calling the £7bn+ debt-financed hostile takeover bid from industrial conglomerate Melrose 'low price and high risk', prompting yet another quick fire public response from the potential buyer.

    • 15 Feb 2018
  • Rate rises on horizon credited for Euro PP surge

    The euro private placement market is seeing volumes rise to the highs reached in 2013-2015 as corporates push ahead with funding in the hope of beating European Central Bank interest rate rises expected later this year.

    • 15 Feb 2018
  • GKN offers shareholders £2.5bn in Melrose battle

    Industrial conglomerate Melrose’s likely debt-driven hostile takeover attempt of UK engineering group GKN took another twist on Wednesday, with the target offering shareholders £2.5bn in cash over the next three years as it sells assets.

    • 14 Feb 2018
  • Syndicated loan market facing most challenges in memory

    The European syndicated loan market is facing an unprecedented amount of structural challenges in 2018, leaving market participants unsure what the usually stalwart corner of the financial sector might look like by the end of the year.

    • 13 Feb 2018
  • Broadcom gets $100bn loan for Qualcomm buy

    US chip maker Broadcom has received commitments from 12 lenders for a staggering $100bn funding package to finance its acquisition of technology company Qualcomm.

    • 12 Feb 2018
  • EG’s acquisition spree weighs on ratings

    Petrol station forecourt company EG Group’s credit worthiness has come under pressure after the UK firm announced $2.15bn of debt-financed acquisition plans last week.

    • 12 Feb 2018
  • Wabco tests Schuldschein water for US supply

    Wabco Europe BVBA, an industrial equipment supplier with headquarters in Brussels, has launched a €200m inaugural Schuldschein. The deal is guaranteed by Wabco Holdings, a company listed on the New York Stock Exchange.

    • 12 Feb 2018
  • Top Glove loan cruises to oversubscription

    A $310m two-part borrowing to support Malaysian surgical glove maker Top Glove Corp’s acquisition of Aspion is oversubscribed, with a handful of banks committing to the deal.

    • 12 Feb 2018
  • Reits on rise in private debt markets

    Real estate investment trust (Reit) issuance is rising in private debt markets, as spreads compress and borrowers look to lock in long term debt before expected interest rate rises.

    • 08 Feb 2018
  • Kuka ramps refi by €120m amid deal drought

    German robotics maker Kuka has signed a refinancing facility, ramping up the size of its syndicated bank borrowing by €120m.

    • 08 Feb 2018
  • Equity plunges dim loan banks’ post-IPO hopes

    The sharp falls in global equity markets over the past week have dimmed some of the optimism around this year’s syndicated loan market in Europe, as lenders worry that chief executives will postpone IPO plans — and the growth financing required immediately after going public.

    • 08 Feb 2018
  • Lull in SSD deals as market digests January flurry, and considers the threat of unrated bonds

    There is a hiatus in the Schuldschein new issue market, as the slew of transactions launched in January are weighed up and processed before settlement dates. Amid the calm, Schuldschein bankers are beginning to question whether the unrated bond market is a threat.

    • 08 Feb 2018
  • Informa’s acquisition debt fee structure revealed

    Informa, the UK media group, will initially pay 85bp over Libor for the acquisition debt facility due to partly finance its £3.9bn ($5.4bn) purchase of events company UBM. The spread will rise to a maximum of 225bp, depending on when the debt is repaid.

    • 07 Feb 2018
  • EG Group fills up for Kroger purchase

    A group of five banks has agreed to underwrite UK garages company EG Group’s $2.15bn purchase of US firm Kroger’s convenience store business, after the equity market wobbles this week failed to put a dent in the year’s M&A extravaganza.

    • 07 Feb 2018
  • China Taiping picks one for HK$500m club

    State-owned insurer China Taiping Insurance Holdings is raising a HK$500m loan from the offshore market, according to sources.

    • 07 Feb 2018
  • HICL trims price for sterling loan refinancing

    HICL Infrastructure Co, the UK infrastructure fund advised by InfraRed Capital Partners, has refinanced its £400m ($556m) revolving credit facility and managed to negotiate cheaper funding from its banking group.

    • 06 Feb 2018
  • Updated: SMBC Aviation takes flight for $600m dual tranche fundraising

    SMBC Aviation Capital has swooped into the Asian loan market for a $600m two tranche borrowing.

    • 06 Feb 2018
  • Vodafone-Liberty talks raise hopes of telco M&A boom

    Some loans bankers are looking forward to a wave of consolidation in the telecoms sector, as Vodafone said it was in talks with Virgin Media owner Liberty Global to buy some of the US company’s European assets.

    • 05 Feb 2018
  • Koenig & Bauer makes syndicated loan debut

    Koenig & Bauer, the German printing press maker, has made its debut in the syndicated loan market, agreeing facilities totalling up to €400m from eight banks.

    • 05 Feb 2018
  • Deriv, cap market groups join forces on Libor

    Trade associations representing derivatives and capital markets have published a road map that they hope will lay the path to a smooth transition away from “ibor” interest rate benchmarks.

    • 01 Feb 2018
  • Yunnan Energy fires up $200m three year bullet

    Yunnan Provincial Energy Investment Group is out with its first borrowing in the international loan market.

    • 01 Feb 2018

Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 30,623.58 125 9.68%
2 JPMorgan 28,965.03 121 9.16%
3 Citi 22,140.67 74 7.00%
4 Wells Fargo Securities 18,669.11 90 5.90%
5 Deutsche Bank 16,124.80 46 5.10%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UOB 388.89 1 11.11%
1 Sumitomo Mitsui Financial Group 388.89 1 11.11%
1 Standard Chartered Bank 388.89 1 11.11%
1 Mizuho 388.89 1 11.11%
1 Mitsubishi UFJ Financial Group 388.89 1 11.11%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 1,659.34 6 7.12%
2 ING 1,631.78 5 7.00%
3 Goldman Sachs 1,565.51 5 6.72%
4 Deutsche Bank 1,532.98 4 6.58%
5 Citi 1,439.08 6 6.17%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 9,857.42 14 13.05%
2 SG Corporate & Investment Banking 7,833.35 12 10.37%
3 Goldman Sachs 5,773.27 11 7.65%
4 Citi 4,606.54 14 6.10%
5 BNP Paribas 4,132.76 19 5.47%

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%