• Leveraged loan issuance totals $634 billion year to date
New York, Oct. 31 - JPMorgan continued as the top arranger of leveraged loans for the year to date, according to data compiled by Prospect News.
JPMorgan has now taken the number-one position in the year-to-date rankings for nine consecutive months. Banc of America was first in January while JPMorgan placed number one for all of 2006.
All the other banks in the top 10 saw no change in their ranking except for in the number-10 spot, where Morgan Stanley took over from UBS.
Activity in the market held the busier levels of September. October saw $65.06 billion of deals, down a little from September's $70.51 billion but much better than the $18.57 billion in August and $36.44 billion in July.
However October came in behind the October 2006 total of $73.95 billion.
Still, the year-to-date volume for 2007 of $633.69 billion is 23% ahead of the $516.38 billion at the same stage last year.
The Prospect News figures cover dollar-denominated deals in the United States. Credit for deals is divided among the lead arrangers.
Year to date 2007
2006 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 105.528 | 177 | 16.65% | 1 | 88.052 | 180 | 17.05%
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| 2 | Citigroup | 79.264 | 101 | 12.51% | 3 | 64.757 | 85 | 12.54%
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| 3 | Banc of America | 77.159 | 155 | 12.18% | 2 | 70.778 | 159 | 13.71%
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| 4 | Credit Suisse | 56.091 | 142 | 8.85% | 4 | 42.012 | 122 | 8.14%
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| 5 | Goldman Sachs | 45.664 | 93 | 7.21% | 7 | 21.818 | 59 | 4.23%
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| 6 | Deutsche Bank | 34.552 | 70 | 5.45% | 5 | 28.754 | 69 | 5.57%
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| 7 | Lehman | 33.078 | 70 | 5.22% | 12 | 14.215 | 48 | 2.75%
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| 8 | Merrill Lynch | 26.159 | 41 | 4.13% | 8 | 20.047 | 48 | 3.88%
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| 9 | Wachovia | 26.042 | 68 | 4.11% | 9 | 17.331 | 67 | 3.36%
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| 10 | Morgan Stanley | 20.369 | 46 | 3.21% | 10 | 16.718 | 38 | 3.24%
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| Total | 633.686 | 872 | 516.376 | 869 |
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| Average size: | 0.727 | 0.594 |
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| October
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| | | | | 2006 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 13.542 | 18 | 20.81% | 1 | 15.390 | 21 | 20.81%
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| 2 | Credit Suisse | 7.188 | 9 | 11.05% | 4 | 6.234 | 17 | 8.43%
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| 3 | Banc of America | 6.894 | 12 | 10.60% | 2 | 11.943 | 16 | 16.15%
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| 4 | Morgan Stanley | 6.277 | 9 | 9.65% | 7 | 4.620 | 8 | 6.25%
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| 5 | Lehman | 5.757 | 6 | 8.85% | 10 | 1.815 | 4 | 2.45%
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| 6 | Goldman Sachs | 5.435 | 6 | 8.35% | 13 | 1.262 | 4 | 1.71%
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| 7 | Citigroup | 5.045 | 4 | 7.75% | 5 | 5.190 | 7 | 7.02%
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| 8 | Wachovia | 3.305 | 4 | 5.08% | 12 | 1.530 | 7 | 2.07%
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| 9 | Deutsche Bank | 2.712 | 5 | 4.17% | 9 | 3.297 | 8 | 4.46%
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| 10 | UBS | 1.205 | 4 | 1.85% | 11 | 1.625 | 7 | 2.20%
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| Total | 65.064 | 62 | 73.952 | 90 |
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| Average size: | 1.049 | 0.822 |
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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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