Syndicated Scoop: This Month’s Jumbo Euro Deals, LIBOR Updates, and More

Intralinks for Financial Services—Syndicated Scoop is a newsletter providing a recap of the month’s top stories and insightful commentary important to the commercial and syndicated lending industry.

In this month’s Syndicated Scoop...

• Giant Euro LBOs set to launch this month
• LIBOR updates from the LSTA
• Shinsei Bank loses Sr. Manager of Project Finance

Small European loans may suffer as giant LBOs take limelight

Almost €10bn of leveraged loans are set to launch in Europe’s leveraged loan market in September, Thomson Reuters reports. As a result, bankers are wary that some of the smaller, low-profile deals may find it difficult to capture investor attention. Thomson recorded a list of the jumbo (€1bn-plus) deals. Here they are:

• A €1.95bn term loan for German generic drugmaker Stada
• €1bn of term loans that form part of a wider US$7.75bn-equivalent buyout financing backing US life sciences company Avantor’s take-private of lab supplies company VWR Corp.
• UK payment processing company Paysafe
• Canada-based drinks bottler Cott Corp
• Jersey-based intellectual property services provider CPA Global

LIBOR: A Process, Not a Problem

As LIBOR continues to roll in the headlines, the LSTA issued an update on a number of issues, including the current state of preparation for possible LIBOR transition, potential stakeholders in the loan space (and their needs), and thoughts on how credit documentation could reduce risk of a market disruption. Go here to access the full update.

People Moves: Martin Stein, Sr. Manager, Project Finance

Martin Stein, senior manager of the project finance division at Shinsei Bank, is leaving the bank by the end of August.

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