Leveraged finance: Barcap’s US team wins first leveraged mandate

Chesapeake is first US energy issuer to target euro investors this decade.

In April 2006, Barclays Capital unveiled the latest stage of its US bond business expansion. Since raiding Goldman Sachs for its co-heads of leveraged finance – Joe McGrath and Rick van Zijl – the UK bank has recruited more than 100 professionals from various institutions, particularly Goldman, but also from Bank of America and JPMorgan.

With Barcap having made such a heavy investment, rivals were starting to snipe at it, wondering when the bank’s first deal would come.

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