• Leveraged loan issuance totals $698.60 billion year to date
New York, Nov. 30 - JPMorgan was once more the top arranger of leveraged loans for the year so far although number two-placed Citigroup dramatically narrowed the lead, according to data compiled by Prospect News.
JPMorgan finished the month with $105.57 billion of deals brought to market for 2007 so far while Citigroup came in at $97.61 billion.
The $7.96 billion margin between the two was down from $26.26 billion at the end of October.
Dominating the month was Alltel Communications Inc.'s $16.25 billion credit facility, which accounted for about a quarter of the month's activity. Goldman Sachs & Co. and Citigroup were joint lead arrangers.
In large part thanks to the Alltel deal, Citigroup placed number one in November and Goldman number two, both far ahead of Merrill Lynch in third place.
Total volume for the year so far is now $698.60 billion, 19% ahead of the $587.56 billion at the same point in 2006.
November saw $66.23 billion of new deals, slightly below the $71.18 billion in November 2006.
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
|
| 1 | JPMorgan | 105.571 | 184 | 15.11% | 1 | 101.646 | 198 | 17.30%
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| 2 | Citigroup | 97.608 | 111 | 13.97% | 3 | 77.257 | 94 | 13.15%
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| 3 | Banc of America | 79.181 | 163 | 11.33% | 2 | 80.215 | 178 | 13.65%
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| 4 | Credit Suisse | 59.167 | 145 | 8.47% | 4 | 49.627 | 134 | 8.45%
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| 5 | Goldman Sachs | 58.572 | 98 | 8.38% | 6 | 30.658 | 69 | 5.22%
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| 6 | Lehman | 35.911 | 72 | 5.14% | 12 | 15.397 | 51 | 2.62%
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| 7 | Deutsche Bank | 34.768 | 72 | 4.98% | 5 | 33.071 | 76 | 5.63%
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| 8 | Merrill Lynch | 32.213 | 50 | 4.61% | 9 | 20.473 | 50 | 3.48%
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| 9 | Wachovia | 26.869 | 74 | 3.85% | 8 | 21.699 | 79 | 3.69%
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| 10 | UBS | 22.709 | 69 | 3.25% | 11 | 16.597 | 63 | 2.82%
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| Total | 698.596 | 931 | 587.557 | 957 | 3.12%
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| Average size: | 0.750 | 0.614 |
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| November
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| | | | | 2006 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Citigroup | 18.294 | 9 | 27.62% | 2 | 12.500 | 9 | 17.56%
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| 2 | Goldman Sachs | 12.908 | 5 | 19.49% | 4 | 8.840 | 10 | 12.42%
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| 3 | Merrill Lynch | 4.933 | 5 | 7.45% | 15 | 0.427 | 2 | 0.60%
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| 4 | JPMorgan | 3.216 | 8 | 4.86% | 1 | 13.594 | 18 | 19.10%
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| 5 | Credit Suisse | 3.021 | 3 | 4.56% | 5 | 7.615 | 12 | 10.70%
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| 6 | UBS | 2.920 | 1 | 4.41% | 8 | 1.657 | 5 | 2.33%
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| 7 | ABN | 2.920 | 1 | 4.41% |
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| 8 | Lehman | 2.833 | 2 | 4.28% | 11 | 1.183 | 3 | 1.66%
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| 9 | GECC | 1.819 | 8 | 2.75% | 9 | 1.652 | 8 | 2.32%
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| 10 | Morgan Stanley | 1.570 | 2 | 2.37% | 10 | 1.595 | 5 | 2.24%
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| Total | 66.232 | 55 | 71.182 | 88 |
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| Average size: | 1.204 | 0.809 |
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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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