Lloyds Bank has bolstered its acquisition finance team with the appointment of Eric Jenkins as a director.
Jenkins joins from Morgan Stanley where he spent seven years in leveraged and acquisition finance in both London and New York. He led the origination and execution of a number of corporate and sponsor-led financings in the US and Europe. Prior to Morgan Stanley, he worked for Deutsche Bank in the US and Hong Kong.
He will report to managing director David Whiteley, and will work alongside Lloyds’ loan syndicate and high yield capital markets team to originate and execute high yield financings and leveraged loans in the UK and Europe.
Whiteley, commenting in the statement, said: “The lack of covenants and amortisation, alongside the market’s liquid investor base, make high yield bonds very attractive for financing large private equity-backed assets. The product has matured to enjoy its best year to date in Europe and we are confident in its long-term dynamics and place in the private equity financing mix. Eric’s appointment reaffirms our commitment to the market.”
Lloyds was the leading sterling-denominated bookrunner in July according to Dealogic, and has worked on deals including a £396 million (€463 million; $613 million) senior secured offering for Advent International-owned Towergate in May.