• Leveraged loan issuance totals $427.24 billion in 2010
• Leveraged loan issuance totals $50.86 billion in December
By Sara Rosenberg
New York, Dec. 31 - Bank of America has regained its number-one position on the leveraged loan league tables for December and all of 2010, bringing $11.07 billion in 31 deals in the final month of the year, according to data compiled by Prospect News.
Bank of America has been on top of the tables for every month in 2010, except for November, which saw JPMorgan in the top spot.
In second place in December was JPMorgan with $8.90 billion in 30 deals, and in third was Credit Suisse with $4.46 in 13 deals.
December saw $50.86 billion of leveraged loans come to market, compared to $44.06 billion in November.
For all of 2010, the leveraged loan market has seen $427.24 billion in 850 deals, whereas in 2009 at this time, year-to-date issuance had been $187.11 billion in 391 deals.
The Prospect News figures cover dollar-denominated deals in the United States for borrowers with $75 million or more of bank debt outstanding. Debtor-in-possession facilities are included. Credit for deals is divided among the lead arrangers.
U.S. market, dollar-denominated deals, all issuers
Year to date
2009 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 79.301 | 278 | 18.76% | 1 | 26.427 | 116 | 14.12%
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| 2 | JPMorgan | 67.095 | 215 | 15.70% | 2 | 22.294 | 79 | 11.91%
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| 3 | Deutsche Bank | 32.512 | 79 | 7.61% | 7 | 7.715 | 31 | 4.12%
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| 4 | Credit Suisse | 30.448 | 101 | 7.13% | 11 | 5.938 | 22 | 3.17%
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| 5 | Wells Fargo | 25.034 | 130 | 5.86% | 8 | 6.955 | 41 | 3.72%
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| 6 | Barclays | 24.506 | 100 | 5.74% | 6 | 8.478 | 26 | 4.53%
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| 7 | Citigroup | 21.241 | 56 | 4.97% | 10 | 6.633 | 20 | 3.55%
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| 8 | Goldman Sachs | 14.648 | 52 | 3.43% | 13 | 4.175 | 13 | 2.23%
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| 9 | Morgan Stanley | 13.989 | 45 | 3.27% | 15 | 2.518 | 12 | 1.35%
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| 10 | UBS | 11.504 | 52 | 2.69% | 5 | 9.02 | 9 | 4.82%
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| Total | 427.236 | 850 | 187.113 | 391 |
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| Average size: | 0.503 | 0.479 |
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| U.S. market, dollar-denominated deals, all issuers
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| Fourth quarter
|
| | | | | 2009 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 27.954 | 89 | 17.86% | 2 | 7.805 | 27 | 13.62%
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| 2 | Bank of America | 27.07 | 97 | 17.29% | 1 | 11.788 | 32 | 20.56%
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| 3 | Credit Suisse | 14.515 | 41 | 9.27% | 4 | 3.468 | 14 | 6.05%
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| 4 | Wells Fargo | 11.001 | 57 | 7.03% | 8 | 2.575 | 11 | 4.49%
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| 5 | Deutsche Bank | 10.143 | 18 | 6.48% | 5 | 3.436 | 14 | 5.99%
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| 6 | Barclays | 6.801 | 29 | 4.34% | 7 | 2.804 | 12 | 4.89%
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| 7 | Citigroup | 6.739 | 18 | 4.31% | 13 | 1.108 | 3 | 1.93%
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| 8 | Goldman Sachs | 6.235 | 21 | 3.98% | 3 | 3.485 | 10 | 6.08%
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| 9 | UBS | 5.391 | 20 | 3.44% | 24 | 0.298 | 3 | 0.52%
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| 10 | Union Bank | 4.108 | 3 | 2.62% | 37 | 0.175 | 2 | 0.31%
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| Total | 156.535 | 319 | 57.328 | 122 |
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| Average size: | 0.491 | 0.47 |
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| December
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| | | | | 2009 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 11.07 | 31 | 21.77% | 2 | 1.872 | 9 | 13.98%
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| 2 | JPMorgan | 9.897 | 30 | 19.46% | 1 | 2.619 | 7 | 19.55%
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| 3 | Credit Suisse | 4.461 | 13 | 8.77% | 4 | 1.221 | 6 | 9.12%
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| 4 | Union Bank | 4.077 | 2 | 8.02% |
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| 5 | Wells Fargo | 3.848 | 19 | 7.57% | 8 | 0.743 | 2 | 5.54%
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| 6 | Barclays | 2.956 | 12 | 5.81% | 9 | 0.602 | 3 | 4.49%
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| 7 | Goldman Sachs | 2.166 | 8 | 4.26% | 3 | 1.35 | 2 | 10.08%
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| 8 | Citigroup | 1.823 | 6 | 3.58% |
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| 9 | Deutsche Bank | 1.617 | 4 | 3.18% | 5 | 0.995 | 5 | 7.43%
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| 10 | Morgan Stanley | 1.159 | 6 | 2.28% |
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| Total | 50.858 | 99 | 13.395 | 37 |
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| Average size: | 0.514 | 0.362 |
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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.
• Borrower must have $75 million or more bank debt outstanding 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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