• Leveraged loan issuance totals $250.69 billion year to date
New York, Nov. 26 - Banc of America was once more number one in the league table of leveraged loan arrangers for the year so far, according to data compiled by Prospect News.
However activity remained depressed for a second month and there was little change in the tables. In the top 10, Citigroup moved ahead of Morgan Stanley and UBS replaced BNP Paribas in 10th place.
B of A has now been number one year to date for seven consecutive months. It had been leading for the year through March, but JPMorgan pushed ahead in April for a single month before B of A retook first place.
Issuance for the month was $14.39 billion, almost identical to the $14.63 billion in October.
By comparison, November 2007 saw more than fives times as much issuance at $82.97 billion.
For 2007 so far, there has been $250.69 billion of new leveraged loans, just 35% of the $716.44 billion for the same period of 2007.
Neither Barclays nor Lehman Brothers made the top 10 arrangers on their own. Counted together, the combined bank would have had $8.835 billion of deals, enough for a number 10 position in the year-to-date table.
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 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Banc of America | 32.303 | 120 | 12.89% | 3 | 81.346 | 166 | 11.35%
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| 2 | JPMorgan | 28.500 | 84 | 11.37% | 1 | 107.492 | 188 | 15.00%
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| 3 | Deutsche Bank | 19.953 | 26 | 7.96% | 7 | 36.933 | 74 | 5.16%
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| 4 | Goldman Sachs | 16.332 | 23 | 6.51% | 5 | 59.508 | 99 | 8.31%
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| 5 | Citigroup | 13.793 | 25 | 5.50% | 2 | 99.374 | 113 | 13.87%
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| 6 | Morgan Stanley | 13.538 | 20 | 5.40% | 10 | 24.467 | 51 | 3.42%
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| 7 | Credit Suisse | 12.288 | 37 | 4.90% | 4 | 60.344 | 146 | 8.42%
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| 8 | GECC | 10.681 | 60 | 4.26% | 13 | 11.533 | 52 | 1.61%
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| 9 | Wachovia | 9.877 | 50 | 3.94% | 9 | 26.869 | 74 | 3.75%
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| 10 | UBS | 7.270 | 14 | 2.90% | 11 | 22.709 | 69 | 3.17%
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| Total | 250.691 | 535 | 716.436 | 940 |
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| Average size: | 0.469 | 0.762 |
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| November
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| | | | | 2007 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 5.650 | 3 | 39.25% | 3 | 5.190 | 12 | 6.26%
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| 2 | Banc of America | 1.354 | 11 | 9.41% | 7 | 3.388 | 8 | 4.08%
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| 3 | Standard Chartered | 1.000 | 1 | 6.95% |
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| 4 | UBS | 0.940 | 4 | 6.53% | 9 | 2.920 | 1 | 3.52%
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| 5 | RBS | 0.776 | 3 | 5.39% | 13 | 1.913 | 2 | 2.31%
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| 6 | Deutsche Bank | 0.667 | 2 | 4.64% | 11 | 2.462 | 4 | 2.97%
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| 7 | WFC | 0.634 | 4 | 4.41% | 24 | 0.335 | 3 | 0.40%
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| 8 | RBC | 0.600 | 1 | 4.17% | 19 | 0.642 | 2 | 0.77%
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| 9 | GECC | 0.567 | 2 | 3.94% | 17 | 1.182 | 7 | 1.42%
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| 10 | Nordea | 0.280 | 1 | 1.95% |
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| Total | 14.394 | 31 | 82.967 | 61 |
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| Average size: | 0.464 | 1.360 |
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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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