• Leveraged loan issuance totals $68.251 billion in month
By Sara Rosenberg
New York, March 31 - JPMorgan was once again in the top spot on the leveraged loan league tables for March, bringing $11.662 billion in 31 deals, according to data compiled by Prospect News.
In second place in March was Bank of America with $10.799 billion in 40 deals, and in third was Wells Fargo with $5.951 billion in 24 deals.
March saw a total of $68.251 billion of leveraged loans come to market, compared to $82.419 in February and $35.482 in March 2010.
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 | 41.160 | 98 | 18.90% | 2 | 13.018 | 41 | 18.31%
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| 2 | Merrill Lynch | 37.815 | 121 | 17.36% | 1 | 13.762 | 50 | 19.36%
|
| 3 | Credit Suisse | 18.946 | 50 | 8.70% | 5 | 3.793 | 18 | 5.33%
|
| 4 | Barclays | 15.357 | 39 | 7.05% | 4 | 4.655 | 21 | 6.55%
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| 5 | Wells Fargo | 12.630 | 57 | 5.80% | 6 | 3.005 | 14 | 4.23%
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| 6 | Deutsche Bank | 11.693 | 36 | 5.37% | 3 | 7.250 | 17 | 10.20%
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| 7 | Morgan Stanley | 10.141 | 28 | 4.66% | 9 | 2.007 | 6 | 2.82%
|
| 8 | Goldman Sachs | 8.416 | 24 | 3.86% | 12 | 1.365 | 4 | 1.92%
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| 9 | Citigroup | 8.090 | 27 | 3.71% | 8 | 2.371 | 9 | 3.33%
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| 10 | UBS | 6.234 | 26 | 2.86% | 10 | 1.587 | 10 | 2.23%
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| Total | 217.806 | 364 | 71.104 | 139 |
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| Average size: | 0.598 | 0.512 |
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| March |
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| | | | | 2010 Comparables |
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 11.662 | 31 | 17.09% | 1 | 7.561 | 21 | 21.31%
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| 2 | Bank of America | 10.799 | 40 | 15.82% | 2 | 5.522 | 19 | 15.56%
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| 3 | Wells Fargo | 5.951 | 24 | 8.72% | 6 | 1.957 | 9 | 5.51%
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| 4 | Morgan Stanley | 5.427 | 14 | 7.95% | 7 | 1.782 | 5 | 5.02%
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| 5 | Deutsche Bank | 4.744 | 12 | 6.95% | 3 | 3.615 | 10 | 10.19%
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| 6 | SunTrust | 3.595 | 15 | 5.27% | 31 | 0.086 | 2 | 0.24%
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| 7 | Citigroup | 3.322 | 9 | 4.87% | 10 | 1.158 | 5 | 3.26%
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| 8 | Goldman Sachs | 3.078 | 10 | 4.51% |
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| 9 | Credit Suisse | 2.270 | 12 | 3.33% | 5 | 2.222 | 11 | 6.26%
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| 10 | Barclays | 2.210 | 9 | 3.24% | 8 | 1.599 | 7 | 4.51%
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| Total | 68.251 | 133 | 35.482 | 61 |
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| Average size: | 0.513 | 0.582 |
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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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