• Leveraged loan issuance totals $555.22 billion year to date
New York, Sept. 30 - JPMorgan continued as the number one arranger of leveraged loans in September, according to data compiled by Prospect News.
However Bank of America took the top spot for both the third quarter and September. Although BofA was second for the year so far, it is less than $1 billion behind JPMorgan.
Year-to-date volume now totals $555.22 billion after $37.69 billion came to market in September. That figure was improved from $26.73 billion in August and in line with July's $38.40 billion but well below the monthly amounts seen earlier in the year. The average issuance per month is $62 billion this year.
Activity is running far ahead of 2010's pace, with the total so far this year more than double the $270.80 billion seen in the first three quarters of last year.
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 | 96.366 | 254 | 17.36% | 2 | 39.169 | 125 | 14.46%
|
| 2 | Bank of America | 95.465 | 308 | 17.20% | 1 | 52.976 | 180 | 19.56%
|
| 3 | Wells Fargo | 39.080 | 168 | 7.04% | 7 | 14.050 | 73 | 5.19%
|
| 4 | Credit Suisse | 32.964 | 105 | 5.94% | 5 | 15.933 | 60 | 5.88%
|
| 5 | Barclays | 29.093 | 91 | 5.24% | 4 | 17.572 | 70 | 6.49%
|
| 6 | Citigroup | 26.628 | 87 | 4.80% | 6 | 14.478 | 37 | 5.35%
|
| 7 | Deutsche Bank | 25.588 | 84 | 4.61% | 3 | 22.480 | 61 | 8.30%
|
| 8 | Morgan Stanley | 24.361 | 67 | 4.39% | 8 | 9.886 | 30 | 3.65%
|
| 9 | Goldman Sachs | 20.030 | 61 | 3.61% | 9 | 8.413 | 31 | 3.11%
|
| 10 | GECC | 14.556 | 85 | 2.63% | 10 | 7.521 | 46 | 2.78%
|
| Total | 555.217 | 970 | 270.801 | 530 |
|
|
|
| Average size: | 0.572 | 0.511 |
|
|
|
|
|
| Third quarter
|
| | | | | 2010 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 17.827 | 57 | 17.33% | 1 | 16.227 | 62 | 16.12%
|
| 2 | JPMorgan | 13.516 | 45 | 13.15% | 2 | 11.204 | 42 | 11.13%
|
| 3 | Wells Fargo | 9.685 | 47 | 9.42% | 4 | 7.141 | 40 | 7.09%
|
| 4 | Deutsche Bank | 5.203 | 18 | 5.06% | 5 | 6.350 | 19 | 6.31%
|
| 5 | Citigroup | 4.968 | 19 | 4.83% | 7 | 5.882 | 15 | 5.84%
|
| 6 | BNP | 4.051 | 13 | 3.94% | 10 | 3.332 | 10 | 3.31%
|
| 7 | Barclays | 3.871 | 15 | 3.76% | 3 | 7.767 | 25 | 7.72%
|
| 8 | Credit Suisse | 3.800 | 16 | 3.70% | 6 | 6.233 | 23 | 6.19%
|
| 9 | GECC | 3.751 | 24 | 3.65% | 11 | 2.398 | 17 | 2.38%
|
| 10 | HSBC | 2.594 | 5 | 2.52% | 15 | 1.559 | 5 | 1.55%
|
| Total | 102.824 | 207 | 100.660 | 199 |
|
|
|
| Average size: | 0.497 | 0.506 |
|
|
|
|
|
| September
|
| | | | | 2010 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 4.883 | 15 | 12.95% | 1 | 7.435 | 26 | 15.78%
|
| 2 | Deutsche Bank | 3.286 | 8 | 8.72% | 2 | 5.056 | 15 | 10.73%
|
| 3 | Wells Fargo | 2.934 | 13 | 7.78% | 8 | 2.158 | 10 | 4.58%
|
| 4 | JPMorgan | 2.871 | 12 | 7.62% | 3 | 4.122 | 12 | 8.75%
|
| 5 | Barclays | 1.941 | 8 | 5.15% | 4 | 3.643 | 13 | 7.73%
|
| 6 | GECC | 1.841 | 10 | 4.88% | 22 | 0.536 | 5 | 1.14%
|
| 7 | Morgan Stanley | 1.823 | 5 | 4.84% | 6 | 2.488 | 8 | 5.28%
|
| 8 | Citigroup | 1.577 | 6 | 4.18% | 9 | 2.091 | 6 | 4.44%
|
| 9 | HSBC | 1.262 | 2 | 3.35% | 10 | 1.457 | 3 | 3.09%
|
| 10 | Goldman Sachs | 1.074 | 3 | 2.85% | 5 | 2.709 | 10 | 5.75%
|
| Total | 37.692 | 66 | 47.121 | 74 |
|
|
|
| Average size: | 0.571 | 0.637 |
|
|
|
|
|
| Prospect News Leveraged Loan Arranger Rankings
|
|
|
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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
