Deutsche Bank top leveraged loan arranger for February

• Leveraged loan issuance totals $57.26 billion year to date

New York, Feb. 29 - Deutsche Bank notched a second month on top of the league tables for leveraged loans, according to data compiled by Prospect News.

Although it had very little activity during February, not even making the top 10 banks, Deutsche still held on to the lead it established in January. Deutsche took the number-one spot in January in large part because of its role as joint lead arranger with Banc of America on the $9.25 billion facility for Harrah's Operating Co. Inc.

Year to date Deutsche has brought to market $7.94 billion of leveraged loans, $0.73 billion ahead of Banc of America in second place with $7.20 billion and $2.60 billion ahead of JPMorgan with $5.34 billion. JPMorgan placed first for all of 2007.

In February, General Electric Capital Corp. placed first with $1.40 billion of loans, followed by Wachovia with $1.25 billion.

Total volume for the month, though, was very low, at $14.47 billion. That was the smallest monthly total since August 2003, although activity in late 2003 and early 2004 dipped to close to February's figure.

At $57.26 billion, issuance so far in 2008 is running at just 46% of the pace for the comparable period of 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 Comparables

	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	Deutsche Bank	7.936	7	13.86%	7	6.207	13	4.99%
2	Banc of America	7.204	11	12.58%	2	17.394	33	13.98%
3	JPMorgan	5.340	8	9.33%	1	24.459	36	19.66%
4	Citigroup	4.867	6	8.50%	6	8.600	20	6.91%
5	Credit Suisse	3.670	6	6.41%	3	12.813	41	10.30%
6	Goldman Sachs	3.358	4	5.86%	5	9.147	22	7.35%
7	Morgan Stanley	3.136	5	5.48%	9	4.833	14	3.88%
8	Wachovia	2.833	11	4.95%	10	4.756	13	3.82%
9	GECC	2.824	14	4.93%	15	1.474	7	1.18%
10	Lehman	2.230	5	3.89%	8	4.904	13	3.94%
	Total	57.264	88	124.434	190
	Average size:	0.651	0.655
February
					2007 Comparables
	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	GECC	1.399	8	9.67%	13	0.757	4	1.00%
2	Wachovia	1.251	6	8.64%	7	4.063	10	5.37%
3	Goldman Sachs	1.058	2	7.31%	5	4.742	12	6.27%
4	Credit Suisse	1.026	1	7.09%	4	8.237	19	10.89%
5	Repsol	1.015	1	7.01%
6	Lehman	1.014	3	7.00%	11	2.488	6	3.29%
7	Banc of America	0.895	5	6.19%	3	8.244	13	10.90%
8	GMAC	0.750	1	5.18%
9	JPMorgan	0.600	4	4.15%	1	16.993	21	22.46%
10	CoBank	0.571	3	3.94%
	Total	14.470	40	75.664	101
	Average size:	0.362	0.749
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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