• Leveraged loan issuance totals $98.1 billion for month
• Second quarter loan issuance totals $311.63 billion
• Year-to-date loan issuance totals $735.62 billion
By Sara Rosenberg
New York, June 30 – JPMorgan led the leveraged loan league tables for June, bringing $10,864,000,000 in 29 deals, giving it an 11.07% share of the market, according to data compiled by Prospect News.
Barclays was second with $9,992,000,000 in 23 deals, or 10.19% of the market.
In third was Bank of America at $9,219,000,000, or 9.4% of the total; Morgan Stanley was fourth with $9,049,000,000, a 9.22% share; and Credit Suisse was fifth at $5,769,000,000, or a 5.88% share.
Issuance for the month was $98,102,000,000, versus $95.08 billion in May and $83,387,000,000 in June 2016.
For the second quarter, JPMorgan led the tables with $36,871,000,000 in 89 deals, or a 11.83% share of the market, Bank of America was second with $26,944,000,000 in 82 deals, or 8.65% of the total, followed by Credit Suisse, Barclays and Morgan Stanley.
Issuance for the second quarter was $311,626,000,000, compared to $201,795,000,000 in the second quarter of 2016.
Year to date, JPMorgan led the tables with $109,665,000,000 in 209 deals, or a 14.91% share of the market. Bank of America was second with $77.72 billion in 194 deals, or 10.57% of the total; Credit Suisse was third, followed by Barclays in fourth and Morgan Stanley in fifth.
Total issuance year to date was $735,618,000,000 in 865 deals, compared to $337,179,000,000 in 505 deals in the comparable period in 2016.
The Prospect News figures cover dollar-denominated deals in the United States for borrowers with $75 million or more of bank debt outstanding. Debtor-in-possession facilities are included. Credit for deals is divided among the lead arrangers.
Leveraged loans, year to date
2016 Comparables
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 109.665 | 209 | 14.91% | 1 | 45.290 | 114 | 13.43%
|
| 2 | Bank of America | 77.720 | 194 | 10.57% | 2 | 33.029 | 133 | 9.80%
|
| 3 | Credit Suisse | 57.006 | 152 | 7.75% | 5 | 20.471 | 68 | 6.07%
|
| 4 | Barclays | 54.511 | 137 | 7.41% | 4 | 22.242 | 76 | 6.60%
|
| 5 | Morgan Stanley | 40.578 | 106 | 5.52% | 8 | 14.335 | 51 | 4.25%
|
| 6 | Goldman Sachs | 39.249 | 133 | 5.34% | 9 | 13.990 | 53 | 4.15%
|
| 7 | Citigroup | 36.448 | 99 | 4.95% | 3 | 26.302 | 64 | 7.80%
|
| 8 | Deutsche Bank | 33.548 | 98 | 4.56% | 7 | 15.118 | 62 | 4.48%
|
| 9 | Wells Fargo | 29.487 | 95 | 4.01% | 6 | 19.780 | 97 | 5.87%
|
| 10 | Jefferies | 26.077 | 78 | 3.54% | 16 | 4.414 | 21 | 1.31%
|
| Total | 735.618 | 865 | 337.179 | 505
|
| Average size: | 0.850 | 0.668
|
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|
| Leveraged loans, Q2
|
| | | | | 2016 Comparables
|
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 36.871 | 89 | 11.83% | 1 | 28.443 | 60 | 14.09%
|
| 2 | Bank of America | 26.944 | 82 | 8.65% | 3 | 17.104 | 73 | 8.48%
|
| 3 | Credit Suisse | 25.947 | 65 | 8.33% | 5 | 11.949 | 44 | 5.92%
|
| 4 | Barclays | 24.077 | 62 | 7.73% | 4 | 15.003 | 50 | 7.43%
|
| 5 | Morgan Stanley | 20.782 | 51 | 6.67% | 8 | 10.620 | 37 | 5.26%
|
| 6 | Citigroup | 18.283 | 42 | 5.87% | 2 | 20.766 | 43 | 10.29%
|
| 7 | Goldman Sachs | 15.221 | 53 | 4.88% | 9 | 8.086 | 30 | 4.01%
|
| 8 | Jefferies | 14.117 | 44 | 4.53% | 14 | 2.988 | 14 | 1.48%
|
| 9 | RBC | 12.012 | 47 | 3.85% | 12 | 4.921 | 28 | 2.44%
|
| 10 | Wells Fargo | 11.996 | 35 | 3.85% | 6 | 11.545 | 57 | 5.72%
|
| Total | 311.626 | 390 | 201.795 | 286
|
| Average size: | 0.799 | 0.706
|
|
|
| Leveraged loans, June
|
| | | | | 2016 Comparables
|
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 10.864 | 29 | 11.07% | 2 | 7.627 | 27 | 9.15%
|
| 2 | Barclays | 9.992 | 23 | 10.19% | 4 | 5.472 | 20 | 6.56%
|
| 3 | Bank of America | 9.219 | 25 | 9.40% | 1 | 8.090 | 31 | 9.70%
|
| 4 | Morgan Stanley | 9.049 | 17 | 9.22% | 5 | 5.249 | 17 | 6.30%
|
| 5 | Credit Suisse | 5.769 | 20 | 5.88% | 8 | 4.048 | 19 | 4.85%
|
| 6 | Citigroup | 5.226 | 9 | 5.33% | 3 | 5.823 | 21 | 6.98%
|
| 7 | Goldman Sachs | 4.894 | 19 | 4.99% | 11 | 2.629 | 13 | 3.15%
|
| 8 | RBC | 4.752 | 16 | 4.84% | 10 | 2.950 | 16 | 3.54%
|
| 9 | Jefferies | 3.592 | 15 | 3.66% | 14 | 1.548 | 7 | 1.86%
|
| 10 | Wells Fargo | 3.275 | 11 | 3.34% | 7 | 4.913 | 24 | 5.89%
|
| Total | 98.102 | 125 | 83.387 | 126
|
| Average size: | 0.785 | 0.662
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| Prospect News Leveraged Loan Arranger Rankings
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Criteria
• The tables include dollar-denominated deals offered in the United States and reported to Prospect News.
• Borrower must have $75 million or more of bank debt outstanding for inclusion.
• All loans are leveraged: either they are rated speculative-grade by Moody’s Investors Service or S&P Global Ratings or, if unrated, the interest rate margin is 150 bps or higher.
• The tables include amended and restated loans where the maturity or size is changed but not repricings.
• Offerings are included in the time period in which the bank meeting was held (if available), otherwise the earlier of settlement date or date reported to Prospect News.
• Numeric totals are for the number of deals (not tranches).
• DIP facilities are included; bridge loans are excluded.
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