• Leveraged loan issuance totals $67.66 billion in June
By Sara Rosenberg
New York, June 30 - Bank of America was in the number one spot on the leveraged loan league tables for June, bringing $10.49 billion in 36 deals, according to data compiled by Prospect News.
In second place in June was JPMorgan with $8.83 billion in 27 deals, and in third was Goldman Sachs with $6.05 billion in nine deals.
June saw a total of $67.66 billion of leveraged loans come to market, compared to $72.66 billion in May and $32.34 billion in June 2010.
Year to date, JPMorgan is in the lead with $77.63 billion in 199 deals, Bank of America is in second with $74.05 billion in 236 deals and Credit Suisse is in third with $29.32 billion in 89 deals.
Total leveraged loan issuance year to date is $438.16 billion, compared to $170.54 in the first half of 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 | 77.632 | 199 | 17.72% | 2 | 28.065 | 84 | 16.46%
|
| 2 | Bank of America | 74.052 | 236 | 16.90% | 1 | 36.750 | 118 | 21.55%
|
| 3 | Credit Suisse | 29.324 | 89 | 6.69% | 5 | 9.700 | 37 | 5.69%
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| 4 | Wells Fargo | 28.161 | 117 | 6.43% | 7 | 6.909 | 33 | 4.05%
|
| 5 | Barclays | 24.876 | 75 | 5.68% | 4 | 9.904 | 46 | 5.81%
|
| 6 | Morgan Stanley | 21.936 | 57 | 5.01% | 8 | 5.189 | 17 | 3.04%
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| 7 | Citigroup | 21.076 | 68 | 4.81% | 6 | 8.696 | 23 | 5.10%
|
| 8 | Goldman Sachs | 20.982 | 55 | 4.79% | 12 | 3.354 | 15 | 1.97%
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| 9 | Deutsche Bank | 19.395 | 64 | 4.43% | 3 | 16.129 | 42 | 9.46%
|
| 10 | GECC | 10.565 | 57 | 2.41% | 9 | 5.123 | 29 | 3.00%
|
| Total | 438.155 | 747 | 170.541 | 332 |
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| Average size: | 0.587 | 0.514 |
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| Second Quarter
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| | | | | 2010 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 37.723 | 96 | 17.60% | 2 | 15.046 | 43 | 15.13%
|
| 2 | Bank of America | 34.223 | 107 | 15.97% | 1 | 22.988 | 68 | 23.12%
|
| 3 | Wells Fargo | 14.568 | 57 | 6.80% | 7 | 3.904 | 19 | 3.93%
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| 4 | Goldman Sachs | 12.444 | 31 | 5.81% | 13 | 1.989 | 11 | 2.00%
|
| 5 | Citigroup | 12.199 | 38 | 5.69% | 4 | 6.325 | 14 | 6.36%
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| 6 | Morgan Stanley | 11.711 | 29 | 5.46% | 8 | 3.182 | 11 | 3.20%
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| 7 | Credit Suisse | 10.044 | 38 | 4.69% | 5 | 5.907 | 19 | 5.94%
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| 8 | Barclays | 8.187 | 36 | 3.82% | 6 | 5.249 | 25 | 5.28%
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| 9 | Deutsche Bank | 7.135 | 28 | 3.33% | 3 | 8.879 | 25 | 8.93%
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| 10 | PNC | 6.957 | 12 | 3.25% | 11 | 2.380 | 7 | 2.39%
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| Total | 214.308 | 366 | 99.437 | 193 |
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| Average size: | 0.586 | 0.515 |
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| June
|
| | | | | 2010 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 10.492 | 36 | 15.51% | 2 | 6.469 | 18 | 20.01%
|
| 2 | JPMorgan | 8.831 | 27 | 13.05% | 1 | 7.192 | 13 | 22.24%
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| 3 | Goldman Sachs | 6.046 | 9 | 8.94% | 12 | 0.548 | 3 | 1.70%
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| 4 | Citigroup | 5.096 | 14 | 7.53% | 3 | 3.635 | 4 | 11.24%
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| 5 | Wells Fargo | 4.347 | 20 | 6.43% | 5 | 1.629 | 6 | 5.04%
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| 6 | Credit Suisse | 3.254 | 14 | 4.81% | 9 | 0.790 | 3 | 2.44%
|
| 7 | Morgan Stanley | 2.596 | 10 | 3.84% |
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| 8 | GECC | 1.968 | 11 | 2.91% | 14 | 0.510 | 5 | 1.58%
|
| 9 | RBC | 1.895 | 9 | 2.80% | 21 | 0.227 | 2 | 0.70%
|
| 10 | RBS | 1.890 | 11 | 2.79% |
|
| Total | 67.662 | 125 | 32.335 | 58
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| Average size: | 0.541 | 0.558 |
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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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