IFR International - 03.11.2018

LOANS NORTH AMERICA

"OOKRUNNERSûANDûMANDATEDûLEADû
arrangers Lloyds and NatWest underwrote
THEûlNANCINGûINû!UGUSTûFORûAûTOTALûOFû
aMûINCLUDINGûAûaMûSIX
MONTHû
bridge loan.
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OVERSUBSCRIBEDûWITHûBarclays, HSBC,
Santander UK, AIB Group, Clydesdale Bank and
Credit Suisse JOININGûTHEûTRANSACTION
#ARE4ECHûCLOSEDûTHEûACQUISITIONûONû
/CTOBERû
#ARE4ECHûISûCOMMITTEDûTOûMAINTAININGû
LEVERAGEûATûBETWEENûAPPROXIMATELYû
û
TIMESûNETûDEBTûTOû%BITDA

WH SMITH TAKES £200m TL

"OOKSELLERûSTATIONERûANDûNEWSAGENTûWH
SMITHûISûBACKINGûITSûaMûACQUISITIONûOFû53û
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4HEûLOANûISûBEINGûPROVIDEDûBYû7(û3MITHSû
FOURûEXISTINGûFACILITYûBANKSûCOMPRISINGû
Barclays, BNP Paribas, HSBC and Santander.
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ACCORDION

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DNB Bank, ING, Royal Bank of Scotland, SEB, SR-
Bank and Wells Fargo.
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SHEPHERD NEAME SECURES £85m REFI

Brewer and pub operator SHEPHERD NEAME has

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lNANCINGûTOûTAKEûADVANTAGEûOFûLONGûTERMû

GROWTHûPROSPECTS

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Santander UK THATûREPLACESû3HEPHERDû

.EAMESûEXISTINGûaMûREVOLVERûWHICHûWASû

due to mature in 2020.

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BPûANDûBPûOVERû,IBORûDEPENDINGûINû

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0ENSIONû&UNDSû)NVESTMENTû-ANAGEMENTû,TDû

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CANCELLEDûANDûREPAID

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at lower interest rates.

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agent.

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Santander.

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ACQUISITIONS

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NORTH AMERICA

UNITED STATES

IBM NETS US$20bn FOR RED HAT

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ARRANGERSûANDûJOINTûBOOKRUNNERS

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downgrade.

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RISINGûLEVERAGEûTHATûITûESTIMATESûATûAROUNDûû

TIMESûCOMPAREDûWITHûûTIMESûCURRENTLY

AMERICAS LOANS BOOKRUNNERS – FULLY

SYNDICATED VOLUME

BOOKRUNNERS: 1/1/2018 TO DATE

Managing No of Total Share

bank or group issues US$(m) (%)

1 BAML 1,006 304,575.28 12.2

2 JP Morgan 928 286,816.75 11.5

3 Wells Fargo 728 203,840.21 8.2

4 Citigroup 490 172,690.28 6.9

5 RBC 400 104,080.62 4.2

6 Barclays 358 95,325.40 3.8

7 Goldman Sachs 319 93,561.80 3.7

8 MUFG 263 83,838.23 3.4

9 Morgan Stanley 221 79,163.60 3.2

10 Deutsche Bank 279 68,299.76 2.7

Total 3,843 2,497,107.16

Proportional credit

Source: Refinitiv SDC code: R7