By Stephanie N. Rotondo
Portland, Ore., Oct. 31 - Bank of America Merrill Lynch remained the top bookrunner for the preferred stock market for the year so far, according to data compiled by Prospect News.
For the 10 months through October, Bank of America has raised $2.15 billion in 35 transactions.
Issuers have raised a total of $18.76 billion since January in 95 deals.
In October, Well Fargo Securities LLC won the top spot, raising $62 million in three preferred stock financings. Wells stole the monthly position from Bank of America.
A total of $245 million of preferreds were sold in five deals during the month.
U.S. market, dollar-denominated deals, all issuers
| Bookrunner | Amount | Deals | Share of total
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1 | Bank of America | 2.150 | 35 | 12.00%
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2 | Morgan Stanley | 1.446 | 19 | 8.07%
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3 | Wells Fargo | 1.187 | 30 | 6.62%
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4 | JPMorgan | 1.140 | 5 | 6.36%
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5 | Citigroup | 0.898 | 18 | 5.01%
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6 | Banco BTG Pactual | 0.824 | 1 | 4.60%
|
6 | Banco Bradesco BBI | 0.824 | 1 | 4.60%
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6 | Itau BBA USA | 0.824 | 1 | 4.60%
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9 | Barclays | 0.745 | 4 | 4.16%
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10 | Deutsche Bank | 0.712 | 3 | 3.98%
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| Total | 17.921 | 95 |
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| Average size: | 0.189 |
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October, U.S. market, all issuers |
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| Underwriter | Amount | No. | Share of total
|
1 | Wells Fargo | 0.062 | 3 | 25.51%
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2 | Bank of America | 0.050 | 2 | 20.40%
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3 | Janney | 0.035 | 1 | 14.28%
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4 | Robert W. Baird | 0.028 | 2 | 11.23%
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5 | Stifel | 0.015 | 1 | 6.13%
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6 | Raymond James | 0.015 | 1 | 6.12%
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6 | UBS | 0.015 | 1 | 6.12%
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8 | Deutsche Bank | 0.013 | 1 | 5.10%
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8 | RBC | 0.013 | 1 | 5.10%
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| Total | 0.245 | 5 |
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| Average size: | 0.049 |
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Prospect News Preferred Stock Underwriter Rankings
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Criteria
• U.S. tables include all underwritten dollar-denominated offerings sold in the United States as public or Rule 144A deals reported to Prospect News.
• Convertibles are excluded.
• Offerings are included in the time period in which they price.
• Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the bookrunner. For multiple leads, the total value is divided equally among joint bookrunners.
• The headquarters location of the parent company is used for the country criteria (i.e. registrations in tax havens and offshore finance subsidiaries are ignored)
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