Italian syndicated loan volume at highest level since 2010

Italian syndicated loan volume reached $49.9bn in 2013, up 35% year-on-year and the highest volume since 2010 ($60.9bn, Dealogic revealed.

According to the platform, Italian syndicated loans accounted for 39% of peripheral eurozone syndicated lending in 2013 ($129.1bn), an increase of 11 percentage points year-on-year and the highest share since 2004 (43%).

Italian leveraged loan volume reached $13.9bn in 2013, more than three times the $3.9bn recorded in 2012, and the highest volume since 2007 ($14.9bn). Leveraged loans accounted for 28% of Italian syndicated loan volume in 2013, the highest share since a 39% share in 2006

For the eighth consecutive year the utility and energy sector was the leading sector for Italian syndicated loans with $19.3bn and a 39% market share. Construction/building and telecommunications followed with 16% and 11% respectively.

Electric utility company ENEL SpA signed the largest Italian syndicated loan of 2013 on February 8th, 2013, a £9.4bn ($12.7bn) refinancing facility with a margin of 170bps, the report from Dealogic said.

Intesa Sanpaolo Spa led the Italian syndicated loan volume bookrunner ranking in 2013 with a 13.1% market share. UniCredit and BNP Paribas follow with 11.4% and 7.7%, respectively.

 

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