Debtwire Names Top Leveraged Loan and High Yield Bond Bookrunners of 2016

- Uncertainty surrounding the European political landscape did not deter issuance with the year ending close to the post-financial crisis high reached in 2014.
- Deutsche Bank led the 2016 High Yield European Bookrunner category with over EUR 7 billion of pro-rata volume across 47 deals and gaining 4.6% of market share.
- BNP Paribas led the 2016 Leveraged Loan European category with EUR 9 billion of pro-rata volume across 60 deals and gaining 8.5% market share.

LONDON, 24 February 2017: Debtwire Europe, the leading provider of real-time intelligence, analysis and data on debt situations, has just released its first league tables, naming the top leveraged loan and high yield bond bookrunners of 2016. Banks were ranked in both the leveraged loan and high yield bond markets by number of transactions, value of deals and market share.

The report provides further insight into the strength of capital markets in 2016, a year marked by Brexit fears, the US presidential elections, and laggard commodity prices.  Despite periodic stops and starts, the year ended with a total of EUR 222bn raised across the leveraged loan and high yield bond markets, a 24% increase from 2015.

Towards the end of 2016, however, the high yield market tapered off with M&A activity slowing and as lenders in the loan market took over with ever more attractive pricing and covenant terms for borrowers.

Darren Maharaj, Manager of EMEA Fixed Income Data, commented:

“The inaugural league tables mark Debtwire’s expansion further into the data analytics space to capture important underlying trends in the leveraged market to give our readers an additional angle.”

Nick Smith-Saville, Head of European Research, commented:

“Looking ahead to 2017, the European leveraged finance market is likely to be influenced by impending Brexit negotiations, national elections in France and Germany and the policies that the Trump administration adopts. We expect the market to remain bifurcated with activity skewed towards high quality names and towards loan side.”

High-Yield League Table – 2016 European Bookrunners

Deutsche Bank ranked first out of the European Bookrunners having worked on 47 deals with a pro-rata volume of EUR 7.1bn and gaining 4.6% of market share.

High-Yield League Table – 2016 Nordic Bookrunners

Nordea ranked first in the Nordic Bookrunner league table having worked on 12 deals with a pro-rata volume of EUR 1.3bn and gaining 12.5% of market share.

Leveraged Loan League Table – 2016 European Bookrunners

BNP Paribas ranked first in the European Bookrunners having worked on 60 deals with a pro-rata volume of EUR 9bn and gaining 8.5% of market share.

Leveraged Loan League Table – 2016 European Sponsor-Backed Deals

BNP Paribas also led the European Bookrunners league table for sponsor-backed deals having worked on 43 deals with a pro-rata volume of EUR 6.2bn gaining 8.9% of market share.

Leveraged Loan League Table – 2016 European LBO

BNP Paribas also ranked first in the European LBO Bookrunners league table having worked on 22 deals with a pro-rata volume of EUR 2.2bn and gaining 8.3% of market share.

Leveraged Loan League Table – 2016 MLAs Leveraged Deals

BNP Paribas ranked first in the European Mandated Lead Arranger Leveraged league table having worked on 81 deals with a pro-rata volume of EUR 7.9bn and gaining 6.6% of market share.

Leveraged Loan League Table – 2016 MLAs Sponsor-Backed Deals

Goldman Sachs ranked first in the European MLAs Sponsor-Backed league table having worked on 32 deals with a pro-rata volume of EUR 5.5bn and gaining 7.2% of market share.

Leveraged Loan League Table – 2016 MLAs Buyouts

BNP Paribas led the European MLAs Buyouts league table having worked on 30 deals with a pro-rata volume of EUR 2.1bn and gaining 6.7% of market share.

Leveraged Loan League Table – 2016 M&A MLAs

BNP Paribas led the European M&A MLAs league table having worked on 41 deals with a pro-rata volume of EUR 2.9bn and gaining 6% of market share.

For press enquiries and further details on the full leveraged loan and high yield bond league tables please contact:

Olivia Cummins
PR Executive, Mergermarket Group
T: +44 (0)20 3741 1129
E: olivia.cummins@mergermarketgroup.com

About Debtwire:

Debtwire is the leading provider of reliable and well-informed intelligence on the high-yield bond, distressed debt, leveraged loan and restructuring markets. Debtwire offers independent, in-depth credit analysis focused on companies that may breach covenants, face liquidity issues, or may need financial or operational restructuring. We offer tailored research from our partner service Xtract Research on bond covenant analysis with partner-level finance lawyers providing this specialised and time-consuming yet essential task.

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