• Leveraged loan issuance totals $149.925 billion year to date
By Sara Rosenberg
New York, March 30 - JPMorgan continued its reign at the top of the leveraged loans league tables for March, bringing $7.455 billion in 37 deals, according to data compiled by Prospect News.
In second place was Bank of America with $7.065 billion in 40 deals, and in third place was Barclays with $4.978 billion in 30 deals.
Year to date, JPMorgan is in the No. 1 position with $23.497 billion in 90 deals, Bank of America is in second with $17.945 billion in 90 deals and Credit Suisse is in third with $10.173 billion in 44 deals.
March saw a total of $56.711 of leveraged loans come to market, compared to $51.271 billion in February and $74.284 in March 2011.
Year-to-date volume totals $149.925 billion, versus $223.287 billion in the comparable time 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
2011 Comparables
| Underwriter | Amount | No. | Share | Rank | Amount | No. | Share
|
| JPMorgan | 23.497 | 90 | 15.67% | 1 | 39.908 | 103 | 17.87%
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| 2 | Bank of America | 17.945 | 90 | 11.97% | 2 | 39.829 | 129 | 17.84%
|
| 3 | Credit Suisse | 10.173 | 44 | 6.79% | 3 | 19.280 | 51 | 8.63%
|
| 4 | Wells Fargo | 10.141 | 56 | 6.76% | 5 | 13.592 | 60 | 6.09%
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| 5 | Deutsche Bank | 8.952 | 43 | 5.97% | 6 | 12.260 | 36 | 5.49%
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| 6 | Morgan Stanley | 8.847 | 28 | 5.90% | 7 | 10.225 | 28 | 4.58%
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| 7 | Barclays | 7.998 | 48 | 5.33% | 4 | 16.689 | 39 | 7.47%
|
| 8 | Citigroup | 6.814 | 36 | 4.55% | 8 | 8.877 | 30 | 3.98%
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| 9 | Goldman Sachs | 6.317 | 32 | 4.21% | 9 | 8.538 | 24 | 3.82%
|
| 10 | GECC | 4.522 | 28 | 3.02% | 12 | 4.837 | 29 | 2.17%
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| Total | 149.925 | 323 | 223.287 | 380 |
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| Average size: | 0.464 | 0.588 |
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| March |
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| | | | | 2011 Comparables |
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| Underwriter | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 7.455 | 37 | 13.15% | 2 | 10.411 | 36 | 14.01%
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| 2 | Bank of America | 7.065 | 40 | 12.46% | 1 | 12.814 | 48 | 17.25%
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| 3 | Barclays | 4.978 | 30 | 8.78% | 7 | 3.542 | 9 | 4.77%
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| 4 | Wells Fargo | 4.606 | 21 | 8.12% | 3 | 6.913 | 27 | 9.31%
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| 5 | Credit Suisse | 4.523 | 20 | 7.98% | 10 | 2.604 | 13 | 3.51%
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| 6 | Morgan Stanley | 3.647 | 13 | 6.43% | 4 | 5.511 | 14 | 7.42%
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| 7 | Deutsche Bank | 3.582 | 21 | 6.32% | 5 | 5.311 | 12 | 7.15%
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| 8 | Citigroup | 2.693 | 14 | 4.75% | 6 | 4.109 | 12 | 5.53%
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| 9 | Goldman Sachs | 2.656 | 14 | 4.68% | 8 | 3.199 | 10 | 4.31%
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| 10 | GECC | 2.502 | 15 | 4.41% | 12 | 1.795 | 10 | 2.42%
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| Total | 56.711 | 122 | 74.284 | 150 |
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| Average size: | 0.465 | 0.495 |
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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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