• Leveraged loan issuance totals $473.287 billion year to date
By Sara Rosenberg
New York, Sept. 28 - JPMorgan was the No. 1 arranger on the leveraged loans league tables for September, bringing $13.142 billion in 32 deals, according to data compiled by Prospect News.
In second place was Bank of America with $12.313 billion in 46 deals, and in third was Credit Suisse with $9.826 billion in 28 deals.
September saw a total of $88.108 of leveraged loans come to market, compared to $35.83 billion in August and $46.925 in September 2011.
Year to date, JPMorgan is in first place, with $71.569 billion in 228 deals, Bank of America is in second place with $64.454 billion in 258 deals and Wells Fargo is in third place with $35.983 billion in 167 deals.
Year-to-date volume totals $473.287 billion, versus $563.301 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
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 71.569 | 228 | 15.12% | 2 | 97.069 | 256 | 17.23%
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| 2 | Bank of America | 64.454 | 258 | 13.62% | 1 | 98.779 | 316 | 17.54%
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| 3 | Wells Fargo | 35.983 | 167 | 7.60% | 3 | 39.897 | 173 | 7.08%
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| 4 | Credit Suisse | 34.597 | 126 | 7.31% | 4 | 32.954 | 105 | 5.85%
|
| 5 | Barclays | 29.747 | 121 | 6.29% | 5 | 29.563 | 92 | 5.25%
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| 6 | Deutsche Bank | 24.688 | 116 | 5.22% | 6 | 27.145 | 86 | 4.82%
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| 7 | Morgan Stanley | 23.345 | 96 | 4.93% | 8 | 24.191 | 67 | 4.29%
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| 8 | Citigroup | 22.362 | 107 | 4.72% | 7 | 26.902 | 88 | 4.78%
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| 9 | Goldman Sachs | 20.302 | 97 | 4.29% | 9 | 20.180 | 60 | 3.58%
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| 10 | RBC | 16.589 | 91 | 3.51% | 13 | 12.396 | 54 | 2.20%
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| Total | 473.287 | 932 | 563.301 | 983 |
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| Average size: | 0.508 | 0.573 |
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| Third quarter |
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| | | | | 2011 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Bank of America | 29.410 | 100 | 16.20% | 1 | 21.346 | 68 | 19.07%
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| 2 | JPMorgan | 26.658 | 77 | 14.69% | 2 | 14.465 | 50 | 12.92%
|
| 3 | Credit Suisse | 15.734 | 43 | 8.67% | 9 | 3.790 | 16 | 3.39%
|
| 4 | Barclays | 14.095 | 49 | 7.77% | 7 | 4.340 | 17 | 3.88%
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| 5 | Wells Fargo | 9.974 | 52 | 5.49% | 3 | 10.544 | 53 | 9.42%
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| 6 | Deutsche Bank | 9.953 | 46 | 5.48% | 4 | 6.760 | 20 | 6.04%
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| 7 | Morgan Stanley | 8.244 | 42 | 4.54% | 14 | 2.398 | 10 | 2.14%
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| 8 | RBC | 7.614 | 35 | 4.19% | 16 | 1.868 | 11 | 1.67%
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| 9 | Citigroup | 7.444 | 35 | 4.10% | 5 | 5.491 | 21 | 4.91%
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| 10 | Goldman Sachs | 6.799 | 35 | 3.75% | 12 | 2.583 | 7 | 2.31%
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| Total | 181.513 | 326 | 111.951 | 221 |
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| Average size: | 0.557 | 0.507 |
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| September |
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| | | | | 2011 Comparables |
|
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 13.142 | 32 | 14.92% | 3 | 3.820 | 17 | 8.14%
|
| 2 | Bank of America | 12.313 | 46 | 13.97% | 1 | 8.401 | 26 | 17.90%
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| 3 | Credit Suisse | 9.826 | 28 | 11.15% | 29 | 0.364 | 4 | 0.78%
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| 4 | Barclays | 8.029 | 25 | 9.11% | 5 | 2.410 | 10 | 5.14%
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| 5 | Deutsche Bank | 7.059 | 27 | 8.01% | 2 | 4.843 | 10 | 10.32%
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| 6 | RBC | 5.298 | 20 | 6.01% | 13 | 1.136 | 5 | 2.42%
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| 7 | Morgan Stanley | 4.535 | 21 | 5.15% | 8 | 1.653 | 5 | 3.52%
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| 8 | Wells Fargo | 3.448 | 21 | 3.91% | 4 | 3.756 | 19 | 8.01%
|
| 9 | Goldman Sachs | 3.266 | 17 | 3.71% | 12 | 1.224 | 3 | 2.61%
|
| 10 | UBS | 2.914 | 11 | 3.31% | 27 | 0.385 | 3 | 0.82%
|
| Total | 88.108 | 145 | 46.925 | 81 |
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| Average size: | 0.608 | 0.579 |
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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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