• Leveraged loan issuance totals $670.123 billion for 2012
By Sara Rosenberg
New York, Dec. 31 - JPMorgan was the top arranger of leveraged loans for 2012, according to data compiled by Prospect News.
The bank came in first place with $97.51 billion in 317 deals while Bank of America was in second place with $92.79 billion in 380 deals and Credit Suisse was in third place with $49.99 billion in 184 deals.
Full year 2012 volume totaled $670.12 billion, versus $669.7 billion for 2011.
JPMorgan was also number one for December, bringing $9.84 billion in 31 deals.
In second place is Bank of America with $8.02 billion in 31 deals, and in third is Barclays with $3.45 billion in 11 deals.
December saw a total of $48.27 billion of leveraged loans come to market, compared to $59.98 billion in November and $37.2 billion in December 2011.
For the fourth quarter, Bank of America is in the top spot with $25.8 billion in 115 deals, JPMorgan is in second with $24.70 in 86 deals and Credit Suisse is in third with $15.9 billion in 59 deals.
Total volume in the fourth quarter is $188.12 billion, compared to $106.27 billion in fourth-quarter 2011.
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
2011 Comparables
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 97.511 | 317 | 14.55% | 2 | 110.976 | 322 | 16.57%
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| 2 | Bank of America | 92.786 | 380 | 13.85% | 1 | 116.248 | 387 | 17.36%
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| 3 | Credit Suisse | 49.988 | 184 | 7.46% | 4 | 38.160 | 130 | 5.70%
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| 4 | Wells Fargo | 49.343 | 226 | 7.36% | 3 | 53.570 | 248 | 8.00%
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| 5 | Barclays | 42.632 | 190 | 6.36% | 5 | 33.680 | 114 | 5.03%
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| 6 | Morgan Stanley | 33.770 | 153 | 5.04% | 9 | 26.226 | 77 | 3.92%
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| 7 | Deutsche Bank | 33.201 | 162 | 4.95% | 7 | 30.953 | 108 | 4.62%
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| 8 | Citigroup | 31.647 | 154 | 4.72% | 6 | 31.149 | 105 | 4.65%
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| 9 | Goldman Sachs | 31.513 | 143 | 4.70% | 10 | 22.669 | 71 | 3.38%
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| 10 | RBC | 27.772 | 143 | 4.14% | 11 | 16.306 | 74 | 2.43%
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| Total | 670.123 | 1322 | 669.696 | 1245 |
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| Average size: | 0.507 | 0.538 |
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| Fourth quarter |
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| | | | | 2011 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 25.800 | 115 | 13.71% | 1 | 17.452 | 71 | 16.42%
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| 2 | JPMorgan | 24.702 | 86 | 13.13% | 2 | 13.907 | 66 | 13.09%
|
| 3 | Credit Suisse | 15.895 | 59 | 8.45% | 5 | 5.189 | 25 | 4.88%
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| 4 | Barclays | 13.476 | 68 | 7.16% | 8 | 4.101 | 22 | 3.86%
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| 5 | Wells Fargo | 12.333 | 55 | 6.55% | 3 | 13.673 | 75 | 12.87%
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| 6 | Morgan Stanley | 11.059 | 57 | 5.88% | 14 | 2.035 | 10 | 1.91%
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| 7 | RBC | 11.024 | 51 | 5.86% | 9 | 3.909 | 20 | 3.68%
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| 8 | Goldman Sachs | 10.119 | 45 | 5.38% | 11 | 2.489 | 11 | 2.34%
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| 9 | Deutsche Bank | 8.324 | 45 | 4.42% | 10 | 3.808 | 22 | 3.58%
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| 10 | Citigroup | 7.603 | 45 | 4.04% | 6 | 4.247 | 17 | 4.00%
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| Total | 188.145 | 374 | 106.270 | 261 |
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| Average size: | 0.503 | 0.407 |
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| December |
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| | | | | 2011 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 9.836 | 31 | 20.38% | 1 | 5.718 | 26 | 15.37%
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| 2 | Bank of America | 8.021 | 31 | 16.62% | 2 | 5.040 | 23 | 13.55%
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| 3 | Barclays | 3.446 | 11 | 7.14% | 11 | 1.069 | 7 | 2.87%
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| 4 | Wells Fargo | 3.437 | 14 | 7.12% | 3 | 4.334 | 27 | 11.65%
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| 5 | RBC | 3.360 | 11 | 6.96% | 8 | 1.654 | 9 | 4.45%
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| 6 | Goldman Sachs | 2.687 | 11 | 5.57% | 14 | 0.777 | 2 | 2.09%
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| 7 | Citigroup | 1.831 | 9 | 3.79% | 5 | 2.395 | 9 | 6.44%
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| 8 | GECC | 1.813 | 11 | 3.76% | 15 | 0.714 | 3 | 1.92%
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| 9 | Deutsche Bank | 1.751 | 7 | 3.63% | 12 | 0.973 | 8 | 2.62%
|
| 10 | Morgan Stanley | 1.631 | 11 | 3.38% | 27 | 0.117 | 1 | 0.32%
|
| Total | 48.267 | 93 | 37.200 | 94 |
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| Average size: | 0.519 | 0.396 |
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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.
• The tables include 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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