UBS top leveraged loan arranger for year to date

• Leveraged loan issuance totals $14.17 billion for April

New York, April 30 - UBS continued as the top arranger of leveraged loans for the year so far, according to data compiled by Prospect News.

But UBS' huge lead largely evaporated as activity picked up noticeably in the leveraged loan market.

While UBS remained at $8.06 billion of total issuance for the year to date - a figure almost entirely due to its role as sole lead arranger of Lyondell Chemical Co.'s $8.02 billion debtor-in-possession facility - second placed Banc of America advanced to $5.93 billion for 2009 through the end of April from $1.64 billion through March 31.

Wells Fargo came in third with $5.30 billion, a figure helped by its acquisition of Wachovia.

Other banks also moved up: JPMorgan was in fourth place with $4.16 billion versus $1.12 billion at the end of March.

Volume for April totaled $14.17 billion, the best level since November 2008, which saw $15.28 billion, and more than double March's $5.96 billion.

However, 2009 is still trailing far behind 2008's levels. Year to date there has been $36.10 billion of new leveraged loans, just 44% of the $81.79 billion for the first four months of 2008.

Even April 2009's strong showing was only 71% of the $20.09 billion the same month a year earlier.

The Prospect News figures cover dollar-denominated deals in the United States. Credit for deals is divided among the lead arrangers.

Year to date

2008 Comparables

	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	UBS	8.055	2	22.31%	30	0.397	2	0.48%
2	Banc of America	5.934	25	16.44%	1	11.450	28	14.00%
3	Wells Fargo	5.303	20	14.69%	17	1.001	7	1.22%
4	JPMorgan	4.160	15	11.53%	2	9.296	25	11.37%
5	GECC	1.456	10	4.03%	5	4.535	27	5.54%
6	Deutsche Bank	1.450	2	4.02%	3	9.030	11	11.04%
7	Citigroup	1.260	4	3.49%	6	4.180	8	5.11%
8	Barclays	0.596	4	1.65%	14	1.478	4	1.81%
9	Liberty Media Corp.	0.430	1	1.19%
10	CIT	0.405	3	1.12%	20	0.795	5	0.97%
	Total	36.099	98	81.790	176
	Average size:	0.368	0.465
April
					2008 Comparables
	Lead	Amount	No.	Share	Rank	Amount	No.	Share
1	Wells Fargo	4.017	8	28.35%	36	0.037	1	0.18%
2	Banc of America	3.913	9	27.62%	2	2.587	9	12.88%
3	JPMorgan	2.760	8	19.48%	1	4.683	10	23.31%
4	GECC	0.412	4	2.91%	9	0.726	6	3.62%
5	CIT	0.405	3	2.86%	16	0.250	1	1.24%
6	Citigroup	0.385	1	2.72%	3	2.050	1	10.21%
7	Pershing Square	0.375	1	2.65%
8	Barclays	0.226	2	1.59%
9	Beal Bank Nevada	0.200	1	1.41%
10	Morgan Stanley	0.175	1	1.23%	23	0.185	1	0.92%
	Total	14.170	38	20.086	45
	Average size:	0.373	0.446
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 they are rated speculative-grade by Moody's Investors Service or Standard & Poor's or, if unrated, the interest rate margin is 150 bps or higher.

• 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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