BBVA, best bank in bonds and syndicated loans in Spain in 2012February 6, 2013
BBVA ranks once again as best bank in Spain for both bonds and syndicated loans market, according to the two rankings published by Spanish newspapers Expansión and Cinco Días.
After a year of high volatility in the Spanish debt market BBVA has maintained the first position as bookrunner, and now it has started the year leading the main deals of the market. The bank ranks also as the first bank in syndicated loans for 2012, a year where a loan to Fund for the Financing of Payments to Suppliers was the most important deal.
In the bonds market it is the fourth year in a row that Expansión places BBVA as the top bank, and the second consecutive year in Thomson Reuters' ranking, the source used by Cinco Días, which makes the strength of Credit team at BBVA Corporate & Investment Banking even more evident. The bank leads the market by traded volume and number of deals. Telefónica, Mapfre (€1bn each one), Abertis (€750m) and BBVA allocations in February and September (€2bn each one) were the most important deals. Within the public sector, BBVA placed important issues for ICO, Government of Madrid and Castilla y León.
Likewise, Corporate Lending, Syndicated Loans and Structurated Finance teams of BBVA CIB have kept the first place at the top of both rankings. The €30bn loan to FFPS was the biggest deal closed last year and if it weren't for it the level of activity would have fallen by 30% compared to 2011. By sector of activity, BBVA has participated mostly in loans provided to infrastructure, tourism, telecommunications and energy companies. These include ACS, Abertis, NH Hoteles, Ono, Portugal Telecom, Iberdrola, Gas Natural, and the most important, the refinancing to Telefónica.