• Leveraged loan issuance totals $191.22 billion year to date
By Sara Rosenberg
New York, Feb. 28 - JPMorgan nabbed the top position on the leveraged loans league table for February, bringing $11.89 billion in 26 deals, according to data compiled by Prospect News.
In second place was Deutsche Bank with $9.71 billion in 27 deals, and in third place was Bank of America with $8.9 billion in 34 deals.
February saw a total of $81.19 billion of leveraged loans come to market, compared to $104.81 billion in January and $119.33 billion in February 2013.
Year to date, JPMorgan is the top arranger with $25.59 billion in 60 deals, Bank of America is second with $20.44 billion in 73 deals and Deutsche Bank is third with $19.53 billion in 57 deals.
Total issuance year to date is $191.22 billion, versus $213.58 billion in the comparable period 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.
Leveraged loans, year to date
2013 Comparables
| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 25.590 | 60 | 13.38% | 1 | 32.008 | 60 | 14.99%
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| 2 | Bank of America | 20.437 | 73 | 10.69% | 4 | 20.631 | 74 | 9.66%
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| 3 | Deutsche Bank | 19.526 | 57 | 10.21% | 2 | 23.477 | 60 | 10.99%
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| 4 | Credit Suisse | 16.207 | 56 | 8.48% | 3 | 20.725 | 51 | 9.70%
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| 5 | Goldman Sachs | 14.294 | 42 | 7.48% | 8 | 12.807 | 47 | 6.00%
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| 6 | Barclays | 11.682 | 42 | 6.11% | 5 | 20.177 | 56 | 9.45%
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| 7 | Wells Fargo | 11.511 | 42 | 6.02% | 9 | 7.224 | 34 | 3.38%
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| 8 | Citigroup | 10.385 | 34 | 5.43% | 6 | 17.955 | 44 | 8.41%
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| 9 | Morgan Stanley | 7.794 | 35 | 4.08% | 7 | 13.908 | 46 | 6.51%
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| 10 | UBS | 5.795 | 21 | 3.03% | 11 | 6.460 | 29 | 3.02%
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| Total | 191.215 | 279 | 213.577 | 297 |
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| Average size: | 0.685 | 0.719 |
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| Leveraged loans, February |
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| | | | | 2013 Comparables |
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| Lead arranger | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 11.886 | 26 | 14.64% | 1 | 16.901 | 34 | 14.16%
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| 2 | Deutsche Bank | 9.706 | 27 | 11.96% | 2 | 14.967 | 33 | 12.54%
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| 3 | Bank of America | 8.898 | 34 | 10.96% | 4 | 12.700 | 43 | 10.64%
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| 4 | Goldman Sachs | 6.534 | 20 | 8.05% | 7 | 7.928 | 25 | 6.64%
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| 5 | Barclays | 5.946 | 20 | 7.32% | 3 | 12.794 | 30 | 10.72%
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| 6 | Credit Suisse | 5.103 | 22 | 6.28% | 8 | 7.636 | 27 | 6.40%
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| 7 | Morgan Stanley | 3.791 | 16 | 4.67% | 6 | 8.205 | 22 | 6.88%
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| 8 | Citigroup | 3.649 | 15 | 4.49% | 5 | 10.501 | 21 | 8.80%
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| 9 | Wells Fargo | 3.148 | 18 | 3.88% | 9 | 4.320 | 18 | 3.62%
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| 10 | RBC | 2.453 | 10 | 3.02% | 11 | 3.001 | 13 | 2.51%
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| Total | 81.188 | 127 | 119.333 | 167 |
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| Average size: | 0.639 | 0.715 |
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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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