Thursday, March 24, 2011

Barclays (BCS) Successfully Growing Brand in U.S., Landing Big Deals

Barclays (NYSE:BCS) has been working hard to implement its five-year plan to boost its brand in the U.S., and has won some significant deals along the way.

Barclays Capital, a division of Barclays PLC, "had roles in the $4.7 billion debt financing for KKR & Co.'s (NYSE:KKR) buyout of Del Monte Foods Co. and the $3.4 billion financing for the buyout of Tomkins PLC, the two largest leveraged buyouts of 2010. It also had recent big loan-refinancing deals for Dunkin' Brands Inc., Burger King and Michael Foods," according to the Wall Street Journal.

"Now it, along with other lenders, faces speed bumps. In the past two weeks, $19.5 billion of leveraged-loan and high-yield bond offerings have been postponed or canceled because of market turmoil, according to Standard & Poor's Leveraged Commentary & Data. That put a crimp on an otherwise strong start to the year.

"Through last week, Barclays had 33 U.S. loan deals this year, totaling $10 billion, nearly double in number what it had during last year's full first quarter, according to Dealogic. It currently ranks fourth among U.S. leveraged lenders, up from eighth last year."

Barclays was trading at $18.88, gaining $0.03, or 0.16 percent, as of 1:58 PM EDT.




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