• Fourth quarter leveraged loans issuance totals $233.98 billion
• Leveraged loan issuance totals $1.07 trillion year to date
By Sara Rosenberg
New York, Dec. 31 - Bank of America took the top position on the leveraged loans league table for December, bringing $8.81 billion in 33 deals, according to data compiled by Prospect News.
In second place was JPMorgan with $8.27 billion in 25 deals, and in third place was Credit Suisse with $6.55 billion in 27 deals.
December saw a total of $70.67 billion of leveraged loans come to market, compared to $89.74 billion in November and $61.96 billion in December 2012.
For the fourth quarter, JPMorgan was in the number one spot with $32.79 billion in 83 deals, Bank of America was second with $30.30 billion in 101 deals and Credit Suisse was third with $22.22 billion in 74 deals.
Fourth quarter total issuance was $233.98 billion, versus $201.66 billion in the 2012 comparable quarter.
Full year 2012 saw JPMorgan take the lead with $166.29 billion in 406 deals, Bank of America was next with $138.95 billion in 467 deals, and Credit Suisse in third with $88.32 billion in 291 deals.
Total issuance in 2013 was $1,069.40 billion, compared to $683.23 billion for full-year 2012.
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.
Leveraged loans, year to date
2012 Comparables
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 166.290 | 406 | 15.55% | 1 | 101.341 | 323 | 14.83%
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| 2 | Bank of America | 138.953 | 467 | 12.99% | 2 | 98.373 | 387 | 14.40%
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| 3 | Credit Suisse | 88.322 | 291 | 8.26% | 4 | 49.268 | 183 | 7.21%
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| 4 | Deutsche Bank | 75.381 | 248 | 7.05% | 6 | 34.251 | 163 | 5.01%
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| 5 | Barclays | 68.299 | 228 | 6.39% | 5 | 42.773 | 192 | 6.26%
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| 6 | Wells Fargo | 63.861 | 254 | 5.97% | 3 | 49.780 | 228 | 7.29%
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| 7 | Citigroup | 60.556 | 197 | 5.66% | 8 | 32.139 | 155 | 4.70%
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| 8 | Goldman Sachs | 59.458 | 219 | 5.56% | 9 | 31.379 | 143 | 4.59%
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| 9 | Morgan Stanley | 57.801 | 221 | 5.40% | 7 | 33.628 | 152 | 4.92%
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| 10 | RBC | 36.097 | 169 | 3.38% | 10 | 27.764 | 143 | 4.06%
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| Total | 1069.404 | 1710 | 683.234 | 1338 |
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| Average size: | 0.625 | 0.511 |
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| Leveraged loans, fourth quarter |
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| | | | | 2012 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 32.793 | 83 | 14.02% | 2 | 28.131 | 91 | 13.95%
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| 2 | Bank of America | 30.300 | 101 | 12.95% | 1 | 31.529 | 123 | 15.63%
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| 3 | Credit Suisse | 22.216 | 74 | 9.49% | 3 | 15.175 | 58 | 7.52%
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| 4 | Morgan Stanley | 14.919 | 57 | 6.38% | 6 | 11.059 | 57 | 5.48%
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| 5 | Deutsche Bank | 13.989 | 53 | 5.98% | 9 | 9.274 | 45 | 4.60%
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| 6 | Wells Fargo | 13.981 | 57 | 5.98% | 5 | 12.769 | 57 | 6.33%
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| 7 | Citigroup | 11.182 | 41 | 4.78% | 10 | 8.238 | 47 | 4.09%
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| 8 | Barclays | 10.633 | 45 | 4.54% | 4 | 13.617 | 70 | 6.75%
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| 9 | Goldman Sachs | 10.065 | 43 | 4.30% | 8 | 9.885 | 44 | 4.90%
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| 10 | RBC | 9.930 | 55 | 4.24% | 7 | 11.016 | 51 | 5.46%
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| Total | 233.976 | 415 | 201.657 | 390 |
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| Average size: | 0.564 | 0.517 |
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| Leveraged loans, December |
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| | | | | 2012 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Bank of America | 8.813 | 33 | 12.47% | 2 | 13.033 | 40 | 21.04%
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| 2 | JPMorgan | 8.272 | 25 | 11.71% | 1 | 13.198 | 36 | 21.30%
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| 3 | Credit Suisse | 6.546 | 27 | 9.26% | 13 | 0.888 | 5 | 1.43%
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| 4 | Morgan Stanley | 5.813 | 26 | 8.23% | 9 | 1.631 | 11 | 2.63%
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| 5 | Citigroup | 4.985 | 17 | 7.05% | 7 | 2.366 | 10 | 3.82%
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| 6 | Wells Fargo | 4.515 | 16 | 6.39% | 3 | 3.807 | 16 | 6.14%
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| 7 | RBC | 3.971 | 17 | 5.62% | 5 | 3.360 | 11 | 5.42%
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| 8 | Barclays | 3.448 | 16 | 4.88% | 4 | 3.720 | 13 | 6.01%
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| 9 | Goldman Sachs | 3.000 | 15 | 4.25% | 6 | 2.687 | 11 | 4.34%
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| 10 | Deutsche Bank | 2.926 | 14 | 4.14% | 8 | 1.751 | 7 | 2.83%
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| Total | 70.665 | 135 | 61.956 | 114 |
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| Average size: | 0.523 | 0.543 |
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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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