• Leveraged loan issuance totals $201.62 billion year to date
New York, Aug. 29 - Banc of America remained seated on top of the league table of leveraged loan arrangers for the year so far, according to data compiled by Prospect News.
Meanwhile issuance plunged to $13.38 billion in August from $27.21 billion in July as the summer slowdown and market worries took hold.
Banc of America has now been the number one arranger year to date for four consecutive months. It had been leading for the year through March, but JPMorgan pushed ahead in April for a single month before BofA retook the title.
Banc of America was also first for the month of August.
August's total of $13.38 billion in new deals was less than half July's and the second smallest since May 2003, when there was just $11.86 billion of deals. Only March of this year, with $9.57 billion, saw less activity.
It was also well below the $18.12 billion in August 2007, even though the credit crunch had taken hold by that point.
Year-to-date issuance now totals $201.62 billion, just 40% of the $499.31 billion comparable figure for 2007.
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 | 26.054 | 85 | 12.92% | 2 | 62.294 | 131 | 12.48%
|
| 2 | JPMorgan | 19.088 | 65 | 9.47% | 1 | 89.901 | 153 | 18.01%
|
| 3 | Deutsche Bank | 17.081 | 21 | 8.47% | 6 | 27.998 | 60 | 5.61%
|
| 4 | Goldman Sachs | 15.777 | 20 | 7.83% | 5 | 36.333 | 84 | 7.28%
|
| 5 | Citigroup | 12.588 | 18 | 6.24% | 3 | 48.046 | 91 | 9.62%
|
| 6 | Morgan Stanley | 11.417 | 17 | 5.66% | 12 | 12.634 | 35 | 2.53%
|
| 7 | Credit Suisse | 10.380 | 31 | 5.15% | 4 | 44.732 | 127 | 8.96%
|
| 8 | GECC | 7.987 | 46 | 3.96% | 13 | 8.929 | 39 | 1.79%
|
| 9 | Wachovia | 7.551 | 35 | 3.75% | 9 | 22.004 | 61 | 4.41%
|
| 10 | BNP Paribas | 5.586 | 17 | 2.77% | 18 | 3.977 | 16 | 0.80%
|
| Total | 201.615 | 401 | 499.311 | 757 |
|
|
|
| Average size: | 0.503 | 0.660 |
|
|
|
|
|
| August
|
| | | | | 2007 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Banc of America | 3.403 | 10 | 25.44% | 2 | 2.335 | 11 | 12.89%
|
| 2 | BNP Paribas | 1.775 | 2 | 13.27% | 7 | 1.125 | 4 | 6.21%
|
| 3 | GECC | 1.022 | 7 | 7.64% | 9 | 0.632 | 3 | 3.49%
|
| 4 | Scotia | 0.875 | 1 | 6.54% | 18 | 0.138 | 1 | 0.76%
|
| 5 | JPMorgan | 0.875 | 6 | 6.54% | 1 | 4.215 | 10 | 23.26%
|
| 6 | SunTrust | 0.575 | 2 | 4.30% |
|
| 7 | UBanCal | 0.505 | 2 | 3.78% |
|
| 8 | RBS | 0.440 | 2 | 3.29% |
|
| 9 | Greenwich | 0.362 | 1 | 2.71% |
|
| 10 | PNC | 0.350 | 1 | 2.62% |
|
| Total | 13.376 | 38 | 18.121 | 43 |
|
|
|
| Average size: | 0.352 | 0.421 |
|
|
|
|
|
|
|
| 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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
