Latest leveraged/non-investment grade loans news
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Dia denies endorsing LetterOne’s debt restructuring plan, but mulls rights issue
Spanish supermarket group Distribuidora Internacional de Alimentación revealed a new scheme to solve its financial troubles on Wednesday, away from the potential debt cut and cash injection recently suggested by its largest single shareholder LetterOne.
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HDFC swings into Samurai loan market
Housing Development Finance Corp is taking the Samurai loan route for its second syndicated financing of the year.
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Anta mandates six for €2.2bn acquisition loan
Anta Sports Products has mandated six banks for a €2.2bn loan to back the €4.6bn acquisition of Finnish sports brand Amer Sports Oyj.
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New EQT direct lending fund four times bigger
Private equity firm EQT closed its largest direct lending fund on Monday, as market participants forecast a busy year for the market in 2019.
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GlobalCapital Asia capital markets awards 2018: Loans
GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.
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Brexit anxiety kills refi loan from Vue
Cinema operator Vue International cancelled its £833m-equivalent leveraged loan offering amid increasing investor aversion to sterling risk, as the UK government and Parliament descended into a full-blown clash over the conditions for separation from the European Union.
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Launches galore from Dongying, Dianchi and Laos bank
Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.
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Education loans in spotlight amid sector, financial challenges
Three Chinese education companies have ventured out for new loans, adding a dash of diversity to the syndication market. But they come at a time when lenders are increasingly conservative about the sector, owing to stricter regulations and amid concerns around borrowers’ financial performance, writes Pan Yue.
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Dongying pours out $200m two-tranche financing
Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have approached retail lenders for a joint borrowing of $200m.
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Corp defaults to rise, says Moody’s
Defaults among borrowers with speculative grade ratings are set to dive at the start of next year, but only for a while, Moody’s said in an outlook report for non-financial corporates this week.
Comment
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The alarm bells are going off across the City
Between sleeping and waking, there is a middle phase: you realise it’s time to get up, but can’t quite bear to admit you need to get out of bed. London’s debt capital markets teams are in that zone. Brexit’s alarm has sounded, but few are eager to haul themselves into the cold air of Frankfurt or Paris.
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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 | 440,258.99 | 1275 | 10.83% |
| 2 | Bank of America Merrill Lynch | 395,781.42 | 1269 | 9.74% |
| 3 | Citi | 248,870.97 | 726 | 6.12% |
| 4 | Wells Fargo Securities | 226,713.26 | 844 | 5.58% |
| 5 | MUFG | 181,541.37 | 1031 | 4.47% |
Bookrunners of Middle East and Africa Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 6,612.85 | 15 | 7.24% |
| 2 | HSBC | 6,299.76 | 16 | 6.90% |
| 3 | Sumitomo Mitsui Financial Group | 6,070.55 | 12 | 6.65% |
| 4 | Citi | 6,061.47 | 20 | 6.64% |
| 5 | Standard Chartered Bank | 5,727.55 | 25 | 6.27% |
Bookrunners of European Leveraged Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 19,103.54 | 89 | 7.62% |
| 2 | JPMorgan | 16,881.55 | 58 | 6.73% |
| 3 | Deutsche Bank | 15,679.29 | 58 | 6.25% |
| 4 | Credit Agricole CIB | 14,083.69 | 66 | 5.62% |
| 5 | Goldman Sachs | 13,902.00 | 61 | 5.54% |
Bookrunners of European Marketed Syndicated Loans
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 47,043.60 | 195 | 6.55% |
| 2 | JPMorgan | 46,108.71 | 102 | 6.42% |
| 3 | UniCredit | 39,106.98 | 168 | 5.45% |
| 4 | Credit Agricole CIB | 36,670.04 | 182 | 5.11% |
| 5 | SG Corporate & Investment Banking | 35,773.91 | 138 | 4.98% |
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% |
