• Leveraged loan issuance totals $65.77 billion in April
By Sara Rosenberg
New York, April 29 - Bank of America Merrill Lynch grabbed the number one position on the leveraged loan league tables for April, bringing $15.99 billion in 35 deals, according to data compiled by Prospect News.
In second place in April was JPMorgan with $11.31 billion in 25 deals, and in third was PNC with $3.67 in seven deals.
April saw a total of $65.77 billion of leveraged loans come to market, compared to $68.25 billion in March and $28.46 billion in April 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.
Year to date
2010 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Merrill Lynch | 55.737 | 163 | 19.17% | 1 | 21.510 | 71 | 21.61%
|
| 2 | JPMorgan | 51.200 | 128 | 17.61% | 2 | 17.290 | 57 | 17.37%
|
| 3 | Credit Suisse | 22.291 | 62 | 7.67% | 4 | 6.316 | 28 | 6.34%
|
| 4 | Barclays | 19.605 | 49 | 6.74% | 5 | 5.594 | 25 | 5.62%
|
| 5 | Wells Fargo | 17.124 | 73 | 5.89% | 6 | 4.005 | 20 | 4.02%
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| 6 | Deutsche Bank | 14.551 | 47 | 5.00% | 3 | 9.889 | 24 | 9.93%
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| 7 | Morgan Stanley | 12.498 | 34 | 4.30% | 8 | 3.730 | 10 | 3.75%
|
| 8 | Citigroup | 12.369 | 41 | 4.25% | 9 | 2.614 | 11 | 2.63%
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| 9 | Goldman Sachs | 11.091 | 36 | 3.81% | 12 | 1.859 | 7 | 1.87%
|
| 10 | UBS | 7.421 | 32 | 2.55% | 10 | 2.407 | 14 | 2.42%
|
| Total | 290.783 | 486 | 99.561 | 200 |
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| Average size: | 0.598 | 0.498 |
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| April
|
| | | | | 2010 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Merrill Lynch | 15.991 | 35 | 24.31% | 1 | 8.622 | 22 | 30.30%
|
| 2 | JPMorgan | 11.308 | 25 | 17.20% | 2 | 4.272 | 16 | 15.01%
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| 3 | PNC | 3.665 | 7 | 5.57% | 17 | 0.255 | 2 | 0.90%
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| 4 | Wells Fargo | 3.532 | 13 | 5.37% | 6 | 1.000 | 6 | 3.52%
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| 5 | Citigroup | 3.478 | 11 | 5.29% | 18 | 0.242 | 2 | 0.85%
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| 6 | Barclays | 2.924 | 10 | 4.45% | 7 | 0.939 | 4 | 3.30%
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| 7 | Credit Suisse | 2.615 | 10 | 3.98% | 4 | 2.523 | 10 | 8.86%
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| 8 | Goldman Sachs | 2.553 | 12 | 3.88% | 13 | 0.494 | 3 | 1.74%
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| 9 | RBC | 2.540 | 7 | 3.86% | 10 | 0.723 | 4 | 2.54%
|
| 10 | GECC | 2.326 | 7 | 3.54% | 8 | 0.861 | 7 | 3.03%
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| Total | 65.765 | 103 | 28.457 | 61 |
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| Average size: | 0.638 | 0.467 |
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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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