BNP Paribas can celebrate being top of the charts in InfrastructureInvestorAssets’ global mandated lead arranger (MLA) league table for 2010. The bank was MLA on deals where it lent almost $5.3 billion during the 12 months, accounting for a share of more than 6 percent of the global MLA market.
BNP Paribas demonstrated strength in its home region of Europe. For example, in May it acted as joint MLA alongside Barclays Capital on the provision of a 19-year 8-month term loan to the EirGrid East West Interconnector project in Ireland; it also acted alongside a host of other European banks in providing a €1.6 billion 16-year term loan to the large Nord Stream gas pipeline project in Russia.
In addition, however, the bank also underlined its global reach. The bank lent to projects in the US, United Arab Emirates, Australia and Singapore, among other markets, during the year.
In a ‘one-two-three’ for banks with French origins, Societe Generale and Credit Agricole Commercial and Investment Bank chased hard on the heels of BNP Paribas. These two banks acted as MLA on deals where they lent a total of $4.2 billion and $3.6 billion respectively.
Grupo Santander and HSBC took fourth and fifth places respectively, with the former acting as MLA on deals worth just over $3.1 billion and the latter in excess of $2.7 billion.
In all, InfrastructureInvestorAssets recorded $83.9 billion worth of MLA activity during 2010. Of this, the top ten banks accounted for $30.6 billion – a market share of 36.5 percent.