• Leveraged loan issuance totals $379.22 billion year to date
• JPMorgan top leveraged loan arranger in July
• Leveraged loan issuance totals $48.93 billion in July
New York, July 31 - JPMorgan remained firmly in the top spot among arrangers of leveraged loans for the year so far, according to data compiled by Prospect News.
The bank widened its lead over number two-placed Banc of America to $6.2 billion from $4.3 billion a month earlier.
JPMorgan had moved into the number one position in May, pushing off Banc of America, which had been first for the year through April. Citigroup had been the leader for January, the year through February and the year through March.
JPMorgan was the top bank for all of 2005.
Meanwhile new issuance eased back from the level of recent months although continued well above 2005 levels.
For July, total volume was $48.93 billion, down from $81.26 billion in June and $55.59 billion in May but approaching 50% better than the $33.27 billion in July 2005.
For 2006 so far, issuance totals $379.22 billion, 72.6% higher than the $219.72 billion at the same point in 2005.
The Prospect News figures cover dollar-denominated deals in the United States. Credit for deals is divided among the lead arrangers.
Year to date 2006
2005 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 56.724 | 121 | 14.96% | 1 | 45.265 | 108 | 20.60%
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| 2 | Banc of America | 50.503 | 114 | 13.32% | 2 | 27.304 | 85 | 12.43%
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| 3 | Citigroup | 49.940 | 63 | 13.17% | 3 | 25.152 | 58 | 11.45%
|
| 4 | Credit Suisse | 30.036 | 90 | 7.92% | 4 | 18.035 | 71 | 8.21%
|
| 5 | Deutsche Bank | 21.715 | 52 | 5.73% | 5 | 16.296 | 39 | 7.42%
|
| 6 | Goldman Sachs | 17.500 | 46 | 4.61% | 8 | 10.044 | 30 | 4.57%
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| 7 | Wachovia | 14.232 | 53 | 3.75% | 7 | 11.450 | 42 | 5.21%
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| 8 | Merrill Lynch | 13.139 | 38 | 3.46% | 11 | 4.410 | 17 | 2.01%
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| 9 | UBS | 11.898 | 41 | 3.14% | 10 | 4.998 | 22 | 2.27%
|
| 10 | Lehman | 9.898 | 35 | 2.61% | 6 | 12.819 | 29 | 5.83%
|
| Total | 379.220 | 633 | 219.717 | 465 |
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| Average size: | 0.599 | 0.473 |
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| July 2006
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| | | | | 2005 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 7.473 | 16 | 15.27% | 1 | 6.627 | 16 | 19.92%
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| 2 | Citigroup | 5.828 | 9 | 11.91% | 2 | 6.168 | 8 | 18.54%
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| 3 | Banc of America | 5.219 | 11 | 10.67% | 4 | 3.026 | 12 | 9.09%
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| 4 | Deutsche Bank | 3.788 | 7 | 7.74% | 5 | 2.040 | 4 | 6.13%
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| 5 | Credit Suisse | 2.889 | 10 | 5.90% | 7 | 1.389 | 7 | 4.17%
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| 6 | UBS | 2.745 | 8 | 5.61% | 27 | 0.150 | 1 | 0.45%
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| 7 | Wachovia | 2.110 | 8 | 4.31% | 8 | 1.225 | 5 | 3.68%
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| 8 | Lehman | 1.937 | 5 | 3.96% | 3 | 4.125 | 5 | 12.40%
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| 9 | Goldman Sachs | 1.789 | 7 | 3.66% | 9 | 0.938 | 3 | 2.82%
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| 10 | Merrill Lynch | 1.382 | 5 | 2.82% | 6 | 1.583 | 5 | 4.76%
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| Total | 48.929 | 83 | 33.270 | 67 |
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| Average size: | 0.590 | 0.497 |
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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.
• Deals must be $75 million or bigger for inclusion.
• All loans are leveraged: either the interest rate margin is 150 bps or higher or they are rated speculative-grade by Moody's Investors Service or Standard & Poor's.
• Includes 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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