• One Housing enters US PP market for secured and unsecured debt

    One Housing, a UK housing association focused on London and southeast England, has sold £150m of secured and unsecured US private placement notes to institutional investors.

    • 04:45 PM
  • Aperam launches Schuldschein for euro raise

    Aperam, the steel producer headquartered in Luxembourg, has entered the Schuldschein market, on the hunt for at least €100m.

    • 04:45 PM
  • European IG loans lined up but queue is short

    Investment grade loans bankers are eagerly awaiting the start of September to see if much business comes their way, though at the moment there is an overwhelming sense that the final quarter will be as drab as the rest of the year has been.

    • 02:00 PM
  • Bayer sells animal health unit to Elanco for $7.6bn

    Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.

    • 20 Aug 2019
  • GIG agrees £1.6bn debt backed wind farm buy

    Macquarie’s Green Investment Group (GIG) has secured debt financing to back its acquisition of a 40% stake in East Anglia One, in a deal that values the Iberdrola-owned wind farm at an enterprise value of £4.1bn.

    • 20 Aug 2019
  • HSBC plucks Welsh in UK coverage push

    Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.

    • 20 Aug 2019
  • Highgate School closes US private placement

    Highgate School in north London has closed a £60m US private placement, joining a clutch of private schools using the instrument for long term financing.

    • 20 Aug 2019
  • Barclays gives Blackman UK coverage job

    Alastair Blackman, formerly a top media investment banker at Deutsche Bank, will be developing relationships with the heads of UK firms on behalf of Barclays from next month.

    • 20 Aug 2019
  • Longhurst houses £100m amid affordable homes funding spree

    Longhurst Group has signed a £100m revolving credit facility, as the UK’s social housing sector finds plenty of support and increased competition from lenders for their business.

    • 19 Aug 2019
  • PP: Live Data

    Please see below.

    • 16 Aug 2019
  • Loans in brief: 16/08/2019

    Tottenham to win its spurs in US PP market - Gewobag closes Schuldschein with ‘well over €1bn’ bids - Fresenius enters Schuldschein market on hunt for euros - BUUK Infrastructure sells US private placement - Ovo Group the latest to court SSE energy retail arm - Competition for UK housing association lending rises

    • 15 Aug 2019
  • Tottenham to win its spurs in US PP market

    London football club Tottenham Hotspur FC has entered the US private placement market, looking for £350m to partly pay off bank loans generated from the construction of its new stadium.

    • 15 Aug 2019
  • Loan veterans fear juniorisation of market

    Some senior loan bankers believe there is an increasing shift in hiring practices towards junior staff, as the syndicated lending market faces mounting pressure on lenders to cut costs.

    • 15 Aug 2019
  • Fresenius enters Schuldschein market on hunt for euros

    German healthcare company Fresenius has launched a Schuldschein across three tenors.

    • 15 Aug 2019
  • Competition for UK housing association lending rises

    The UK’s Peabody Trust has signed a £75m sustainability-linked loan from BNP Paribas, as competition for UK housing association lending ramps up.

    • 14 Aug 2019
  • Details emerge on ZF blockbuster Schuldschein return

    ZF Friedrichshafen is targeting the end of August to launch its grand return to the Schuldschein market, according to people with knowledge of the situation. The German car parts maker’s €2.2bn issue in November 2014 is the biggest deal the market has ever seen but a bigger deal may be on the way.

    • 14 Aug 2019
  • ING creates sustainability derivative

    ING has launched the world’s first sustainability improvement derivative, a derivative with a credit spread that is linked to sustainability performance. The trade comes amid growing demand for environmental, social and governance derivatives products.

    • 13 Aug 2019
  • Gewobag closes Schuldschein with ‘well over €1bn’ bids

    German housing company Gewobag has closed a Schuldschein in the next few days with well over €1bn of orders, in a transaction that could be the largest of this year so far.

    • 13 Aug 2019
  • Dürr digs deeper into green borrowing

    Germany’s Dürr has signed a €750m sustainability-linked loan using blockchain technology, as the mechanical and plant engineering firm continues its push into sustainability refinancing that started with a green Schuldschein.

    • 13 Aug 2019
  • BUUK Infrastructure sells US private placement

    BUUK Infrastructure, a UK utilities firm formerly called Brookfield Utilities, has sold US private placements, according to market participants.

    • 12 Aug 2019
  • Ovo Group the latest to court SSE energy retail arm

    UK energy supplier SSE is in talks to sell its retail business, SSE Energy Services, to Ovo Group, in a deal that could propel the latter to become one of the biggest firm's in the industry in the country.

    • 12 Aug 2019
  • Mong Duong Finance eyes $485m to take out project financing

    Vietnam’s Mong Duong Finance has launched a $484.71m borrowing into general syndication, in tandem with a bond it issued at beginning of the month.

    • 12 Aug 2019
  • Underwritten loans biz drowns in too much liquidity

    More borrowers are eschewing underwritten loans, causing frustration and concern among banks as their usually quiet corner of the market faces huge structural changes.

    • 08 Aug 2019
  • Smaller UK loan supply dries up

    The volume of smaller investment grade syndicated loans in the UK has shrunk sharply as a proportion of overall deals in the region, though some lenders are still pinning their hopes on sub-£250m trades being a P&L sheet saviour.

    • 08 Aug 2019
  • BAIC revs up €2.2bn loan to back Daimler stake purchase

    Beijing Automotive Group (BAIC) has thrown open a €2.2bn-equivalent loan to support its acquisition of a minority stake in German automaker Daimler.

    • 08 Aug 2019
  • Risk costs snag Commerz as outlook worsens

    Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.

    • 07 Aug 2019
  • Barings extends lending push with €1.5bn fund

    Barings has raised €1.5bn for its second European private loan fund, as the asset manager looks to grow a business that has seen the company lend €3bn over the last two years.

    • 07 Aug 2019
  • Newport City Homes refinances in PP market

    Newport City Homes (NCH) has sold a £95m private placement to Legal & General, as housing associations soldify their position in the private debt market.

    • 06 Aug 2019
  • Green deals will have the greatest impact on the Schuldschein market this year

    Green Schuldscheine have been a peripheral feature of the market for the past three years but this seems to be changing, with a billion plus transaction from Porsche and a sustainability linked note from Durr stirring investors into a frenzy. This green turn could have more of an impact for short term market growth than the odd non-European borrower tapping the market.

    • 06 Aug 2019
  • Fagron makes switch to sustainable loan

    Belgium’s Fagron has signed a €375m sustainability-linked credit facility, with the healthcare and pharmaceutical supply company aligning the margin of the facility to greenhouse gas emission reduction.

    • 06 Aug 2019
  • Emirates NBD bumps up loan to $500m

    Emirates NBD, a Dubai-based bank, has closed its dual-tranche loan at $500m with 15 lenders, increasing it from an initial size of $400m.

    • 06 Aug 2019
  • Pertamina closes $1.85bn project financing

    Indonesia’s state-owned oil and natural gas company Pertamina has raised a $1.85bn project loan from a group of 12 banks.

    • 06 Aug 2019
  • Commerz names head of syndicated and leveraged finance

    Commerzbank has appointed its first head of syndicated and leveraged finance, a unit created within its new capital markets division.

    • 05 Aug 2019
  • Tate & Lyle sells US PPs

    Ingredients group Tate & Lyle has priced a $200m US private placement, in order to refinance a sterling bond set to expire in November.

    • 05 Aug 2019
  • Helical finds space for bigger revolver

    The UK’s Helical has amended and extended its bank debt, with the office real estate firm ramping up the size of its revolving credit facility to £400m.

    • 05 Aug 2019
  • Smaller loans bolstering lending business as Foresight signs

    The UK’s Foresight Solar Fund has signed a £245m bank financing package, as lenders to smaller companies say that they might hit record lending levels this year despite sharply pared down volumes elsewhere.

    • 05 Aug 2019
  • Ferrari debuts in the US private placement market

    Luxury sports car company Ferrari has sold €300m of US private placement notes, according to an SEC filing on Friday. Its debut offering is one of only a handful of transactions from the auto sector to reach the market.

    • 05 Aug 2019
  • Terms emerge for Lesso’s $900m loan

    China Lesso Group Holding has launched a $900m four year borrowing into general syndication.

    • 05 Aug 2019
  • UK social housing hopes Boris will match May's commitment

    Capital market participants with an interest in UK social housing are paying close attention to new UK prime minister Boris Johnson’s appointments to his cabinet and inner circle, to try to gain a sense of his attitude towards housing.

    • 01 Aug 2019
  • People moves in brief

    BNP Paribas hires UK advisory head — Créd Ag’s credit unit chief moves to markets role — AIIB hires ICBC loan syndicator.

    • 01 Aug 2019
  • Corporates co-ordinate in ‘dying’ loan syndication business

    Savvy borrowers are squeezing loan banks out of co-ordinator spots by increasingly arranging their own deals, in a slow burning trend that has been thrust into much sharper focus in the EMEA loan markets after a year of painfully low volumes.

    • 01 Aug 2019
  • Loans in brief: August 2, 2019

    Sibanthracite to switch loan from dollars to euros — IGT cuts size, stretches tenor of bank debt — Keywords hits power up on revolver — Resolute turns to lenders to refi M&A debt — Future taps revolver for Smartbrief buy — Fraport enters the Schuldschein market for more

    • 01 Aug 2019
  • BNP Paribas takes Nomura’s McNaught for UK advisory

    Andrew McNaught will lead BNP Paribas’ UK advisory team from the end of the month, as the French bank plans to develop its corporate operations in the country “further, faster”.

    • 01 Aug 2019
  • Rank acquisition loan expected in market soon

    A loan backing Rank Group’s £115.3m acquisition of Stride Gaming is expected to come to the market before the end of August.

    • 01 Aug 2019
  • Banks run to stand still in PE coverage race

    Banks are racing to expand their sponsors coverage teams as they fight to remain relevant to private capital providers at a time of disintermediation in investment banking. By David Rothnie.

    • 01 Aug 2019

Global Syndicated Loan Volume

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 239,045.44 645 10.99%
2 Bank of America Merrill Lynch 227,063.92 705 10.44%
3 Citi 131,956.24 404 6.07%
4 Wells Fargo Securities 120,593.84 450 5.55%
5 MUFG 110,142.88 632 5.07%

Bookrunners of Middle East and Africa Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Sumitomo Mitsui Financial Group 3,579.59 9 9.39%
2 Standard Chartered Bank 3,038.82 11 7.97%
3 First Abu Dhabi Bank 2,978.95 13 7.81%
4 BNP Paribas 2,705.06 6 7.09%
5 Citi 2,288.85 10 6.00%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 7,350.79 41 6.53%
2 Goldman Sachs 7,212.42 37 6.41%
3 BNP Paribas 7,151.10 53 6.36%
4 Credit Agricole CIB 6,659.77 36 5.92%
5 Barclays 6,209.03 28 5.52%

Bookrunners of European Marketed Syndicated Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 31,351.09 133 7.80%
2 Credit Agricole CIB 27,347.56 115 6.80%
3 JPMorgan 23,350.32 62 5.81%
4 Bank of America Merrill Lynch 22,838.09 62 5.68%
5 UniCredit 19,966.03 111 4.97%

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%