• Leveraged loan issuance totals $72.657 billion in May
By Sara Rosenberg
New York, May 31 - JPMorgan moved back into the number one position on the leveraged loan league tables for May, bringing in $15.447 billion in 37 deals, according to data compiled by Prospect News.
JPMorgan has been in the top spot every month this year except for April, when Bank of America Merrill Lynch grabbed the number one seed, and JPMorgan moved into second place.
In second place in May was Bank of America Merrill Lynch with $9.065 billion in 29 deals, and in third was Morgan Stanley with $7.401 billion in 11 deals.
May saw a total of $72.657 billion of leveraged loans come to market, compared to $65.77 billion in April and $38.645 in May 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 | JPMorgan | 68.257 | 170 | 18.71% | 2 | 20.873 | 71 | 15.10%
|
| 2 | Bank of America | 63.086 | 196 | 17.29% | 1 | 30.280 | 100 | 21.91%
|
| 3 | Credit Suisse | 26.165 | 75 | 7.17% | 4 | 8.910 | 34 | 6.45%
|
| 4 | Barclays | 22.961 | 62 | 6.29% | 5 | 8.511 | 40 | 6.16%
|
| 5 | Wells Fargo | 20.727 | 91 | 5.68% | 6 | 5.280 | 27 | 3.82%
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| 6 | Morgan Stanley | 18.511 | 45 | 5.07% | 7 | 5.189 | 17 | 3.75%
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| 7 | Deutsche Bank | 17.801 | 58 | 4.88% | 3 | 13.326 | 37 | 9.64%
|
| 8 | Citigroup | 15.300 | 52 | 4.19% | 8 | 5.060 | 19 | 3.66%
|
| 9 | Goldman Sachs | 15.076 | 46 | 4.13% | 11 | 2.805 | 12 | 2.03%
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| 10 | PNC | 8.939 | 19 | 2.45% | 14 | 1.973 | 6 | 1.43%
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| Total | 364.878 | 613 | 138.206 | 274
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| Average size: | 0.595 | 0.504
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| May
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| | | | | 2010 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 15.447 | 37 | 21.26% | 2 | 3.583 | 14 | 9.27%
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| 2 | Bank of America | 9.065 | 29 | 12.48% | 1 | 7.897 | 28 | 20.43%
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| 3 | Morgan Stanley | 7.401 | 11 | 10.19% | 8 | 1.459 | 7 | 3.78%
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| 4 | BNP | 3.965 | 8 | 5.46% | 9 | 1.444 | 6 | 3.74%
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| 5 | PNC | 3.917 | 3 | 5.39% | 7 | 1.635 | 3 | 4.23%
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| 6 | Credit Suisse | 3.871 | 14 | 5.33% | 5 | 2.594 | 6 | 6.71%
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| 7 | Goldman Sachs | 3.766 | 10 | 5.18% | 13 | 0.946 | 5 | 2.45%
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| 8 | Barclays | 3.316 | 13 | 4.56% | 4 | 2.917 | 15 | 7.55%
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| 9 | Citigroup | 2.767 | 11 | 3.81% | 6 | 2.447 | 8 | 6.33%
|
| 10 | Deutsche Bank | 2.767 | 10 | 3.81% | 3 | 3.436 | 13 | 8.89%
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| Total | 72.657 | 119 | 38.645 | 74
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| Average size: | 0.611 | 0.522
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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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