JPMorgan top leveraged loan arranger year to date

• Leveraged loan issuance totals $357.3 billion year to date

New York, May 31 - JPMorgan was once more the top arranger of leveraged loans for the year so far, although number two-placed Banc of America narrowed its lead a little, according to data compiled by Prospect News.

Continuing a solid theme of 2007, issuance was yet again far ahead of 2006's pace in May.

For the year through May 31, JPMorgan has acted as lead on $63.34 billion of deals, giving it a 17.7% share.

But its lead over Banc of America slipped to $12.91 billion from $14.33 billion the month before.

As it did in April, Banc of America ranked number one for the most recent month.

Nonetheless, JPMorgan has now taken the top spot in the year-to-date rankings for four straight months. Banc of America was first in January while JPMorgan placed number one for all of 2006.

Issuance for 2007 through the end of May is $357.30 billion, 43.2% above the $249.50 billion for the comparable period of 2006.

May saw $76.89 billion of new deals, 38% ahead of the $55.58 billion in May 2006. That volume also put it slightly ahead of April's $75.12 billion and broadly in line with earlier months in the year. March saw $80.85 billion, February $75.66 billion while January was rather quieter with $48.77 billion.

Contributing to May's activity was First Data Corp.'s $16 billion loan via seven different banks and General Motors Corp.'s $4.1 billion revolving credit facility.

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	63.342	102	17.73%	2	38.402	80	15.39%
2	Banc of America	50.437	91	14.12%	3	37.743	77	15.13%
3	Credit Suisse	35.594	96	9.96%	4	22.231	63	8.91%
4	Citigroup	31.143	61	8.72%	1	39.391	49	15.79%
5	Goldman Sachs	30.295	67	8.48%	6	11.846	31	4.75%
6	Deutsche Bank	28.883	49	8.08%	5	18.045	41	7.23%
7	Merrill Lynch	23.137	30	6.48%	11	6.204	23	2.49%
8	Lehman	19.860	45	5.56%	10	6.500	23	2.61%
9	Wachovia	12.542	37	3.51%	7	10.487	36	4.20%
10	UBS	10.068	38	2.82%	9	7.050	21	2.83%
	Total	357.295	491	249.495	423
	Average size:	0.728	0.590
May 2007
					2006 Comparables
	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	Banc of America	12.642	18	16.44%	4	5.255	14	9.45%
2	JPMorgan	10.223	25	13.29%	1	7.768	14	13.98%
3	Credit Suisse	8.949	20	11.64%	3	7.237	21	13.02%
4	Citigroup	7.259	15	9.44%	2	7.276	11	13.09%
5	Deutsche Bank	6.811	12	8.86%	7	3.547	8	6.38%
6	Goldman Sachs	6.719	9	8.74%	5	4.847	12	8.72%
7	Lehman	5.871	11	7.64%	8	2.534	9	4.56%
8	Merrill Lynch	3.108	5	4.04%	10	1.732	9	3.12%
9	UBS	2.603	8	3.39%	19	0.492	3	0.89%
10	HSBC	2.286	1	2.97%
	Total	76.894	93	55.583	96
	Average size:	0.827	0.579
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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