BBVA leads Spanish syndicated loan financing in 2014October 29, 2014
BBVA tops the ranking of financial institutions that have acted as bookrunner in Spanish syndicated loans granted since last January, according to figures released this week by Dealogic.
The Spanish bank has achieved a market share of 10.9%, ahead of its competitors Banco Santander and Credit Agricole CIB, with 10.8% and 6.7% respectively, according to figures provided by the database.
The deals in which BBVA has acted as bookrunner include significant transactions such as the bridge loan to Grifols for 1,500 million dollars for the acquisition of Novartis and the subsequent refinancing of Grifols' entire debt (5,800 million euros), the opening syndicated loan to Cepsa (1,500 million euros) and the bridge loan that was subsequently refinanced with the issuance of a bond in favor of Enagas for the acquisition of TPG (Transportadora de Gas de Perú).
According to the figures released by Dealogic, Spanish syndicated loan activity accounts for 9% of total European loans registered since last January. 110 deals have been closed since the beginning of the year, 40 less than in the same period of 2013. As for volume, Spanish syndicated loans generated 54,100 million dollars, up 28% on the same period in 2013.