• Leveraged loan issuance totals $82.42 billion in February
By Sara Rosenberg
New York, Feb. 28 - JPMorgan maintained its place in the number one position on the leveraged loan league tables for February, bringing $18.23 billion in 31 deals, according to data compiled by Prospect News.
In second place in February was Bank of America with $15.25 billion in 44 deals, and in third was Credit Suisse with $10.79 billion in 23 deals.
February saw a total of $82.42 billion of leveraged loans come to market, compared to $49.01 in January and $14.54 in February 2010.
For the year to date, the top arrangers of leveraged loans were JPMorgan, Bank of America and Credit Suisse, respectively.
For the first two months of the 2011, leveraged loan issuance totals $144.43 billion in 223 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
2010 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 30.807 | 61 | 21.33% | 2 | 5.457 | 20 | 15.32%
|
| 2 | Bank of America | 26.197 | 78 | 18.14% | 1 | 8.240 | 31 | 23.13%
|
| 3 | Credit Suisse | 17.407 | 39 | 12.05% | 5 | 1.571 | 7 | 4.41%
|
| 4 | Barclays | 11.051 | 27 | 7.65% | 4 | 3.057 | 14 | 8.58%
|
| 5 | Deutsche Bank | 7.298 | 22 | 5.05% | 3 | 3.635 | 7 | 10.20%
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| 6 | Wells Fargo | 6.447 | 32 | 4.46% | 9 | 1.048 | 5 | 2.94%
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| 7 | Goldman Sachs | 5.289 | 14 | 3.66% | 6 | 1.365 | 4 | 3.83%
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| 8 | UBS | 4.638 | 18 | 3.21% | 11 | 0.780 | 6 | 2.19%
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| 9 | Morgan Stanley | 4.596 | 13 | 3.18% | 25 | 0.225 | 1 | 0.63%
|
| 10 | Citigroup | 4.223 | 15 | 2.92% | 8 | 1.213 | 4 | 3.41%
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| Total | 144.427 | 223 | 35.622 | 78 |
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| Average size: | 0.648 | 0.457 |
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| February
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| | | | | 2010 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 18.227 | 31 | 22.12% | 3 | 1.300 | 7 | 8.94%
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| 2 | Bank of America | 15.250 | 44 | 18.50% | 1 | 3.159 | 12 | 21.73%
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| 3 | Credit Suisse | 10.785 | 23 | 13.09% | 5 | 0.930 | 4 | 6.40%
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| 4 | Barclays | 7.611 | 17 | 9.23% | 6 | 0.866 | 5 | 5.96%
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| 5 | Deutsche Bank | 5.355 | 13 | 6.50% | 2 | 1.671 | 3 | 11.50%
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| 6 | Wells Fargo | 3.421 | 13 | 4.15% | 11 | 0.500 | 2 | 3.44%
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| 7 | Goldman Sachs | 3.253 | 9 | 3.95% | 7 | 0.800 | 2 | 5.50%
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| 8 | UBS | 2.405 | 8 | 2.92% | 13 | 0.331 | 3 | 2.28%
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| 9 | Citigroup | 2.148 | 7 | 2.61% | 4 | 0.940 | 1 | 6.47%
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| 10 | RBC | 2.126 | 6 | 2.58% | 12 | 0.429 | 2 | 2.95%
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| Total | 82.419 | 121 | 14.536 | 39 |
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| Average size: | 0.681 | 0.373 |
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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 of 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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