JPMorgan top leveraged loan arranger year to date

• Leveraged loan issuance totals $205.73 billion year to date

New York, March 30 - JPMorgan remained the top arranger of leveraged loans for the year so far, expanding its lead over second placed Banc of America, according to data compiled by Prospect News.

Meanwhile, issuance volume surged ahead, bringing the year-to-date total to $205.73 billion.

JPMorgan is now almost $14 billion clear of Banc of America, with a total of $41.85 billion for the first three months of the year versus BofA's $27.94 billion.

Banc of America had been first in January, but JPMorgan returned to the number one position in February. JPMorgan had been placed at the top for all of 2006.

Deals in March that boosted JPMorgan's position included Delta Air Lines, Inc.'s $6.5 billion exit facility, which had JPMorgan as joint lead with five other banks; Dean Foods Co.'s $4.8 billion facility, for which JPMorgan was a joint lead with Banc of America and Wachovia; and Realogy Corp.'s $4.52 billion of loans, jointly arranged by JPMorgan and Credit Suisse.

Issuance in March was $80.70 billion, lifting the total for the year so far to $205.73 billion, 38% more than the $148.79 billion in the first quarter of 2006. That made March the biggest month in recent years, according to Prospect News data. The previous high point was June 2006 with $80.21 billion.

March was also up from February's $76.26 billion.

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	41.853	59	20.34%	2	22.785	51	15.31%
2	Banc of America	27.944	54	13.58%	3	22.528	47	15.14%
3	Credit Suisse	21.788	60	10.59%	5	9.524	29	6.40%
4	Goldman Sachs	18.563	46	9.02%	10	3.477	12	2.34%
5	Merrill Lynch	14.718	19	7.15%	9	3.820	10	2.57%
6	Deutsche Bank	14.637	27	7.11%	4	12.145	22	8.16%
7	Citigroup	13.530	31	6.58%	1	27.600	31	18.55%
8	Lehman	8.792	23	4.27%	13	2.612	9	1.76%
9	Wachovia	7.386	21	3.59%	6	7.530	23	5.06%
10	Morgan Stanley	6.952	17	3.38%	7	5.996	8	4.03%
	Total	205.728	299	148.794	244
	Average size:	0.688	0.610
March 2007
					2006 Comparables
	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	JPMorgan	17.222	23	21.34%	2	8.177	21	15.08%
2	Banc of America	10.550	21	13.07%	1	9.034	22	16.67%
3	Goldman Sachs	9.354	24	11.59%	8	1.951	7	3.60%
4	Credit Suisse	8.740	19	10.83%	5	4.294	14	7.92%
5	Deutsche Bank	8.430	14	10.45%	4	5.018	11	9.26%
6	Citigroup	4.931	11	6.11%	3	7.371	14	13.60%
7	Lehman	3.888	10	4.82%	13	1.084	4	2.00%
8	UBS	3.883	12	4.81%	11	1.680	7	3.10%
9	Merrill Lynch	3.074	4	3.81%	14	0.812	2	1.50%
10	Wachovia	2.630	8	3.26%	6	2.527	7	4.66%
	Total	80.699	109	54.210	105
	Average size:	0.740	0.516
Prospect News Leveraged Loan Arranger Rankings

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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