• Leveraged loan issuance totals $390.41 billion year to date
By Sara Rosenberg
New York, April 30 - JPMorgan led the leveraged loans league table for April, bringing $12.64 billion in 27 deals, according to data compiled by Prospect News.
In second place was Bank of America with $6.91 billion in 23 deals, and in third place was Credit Suisse with $6.71 billion in 25 deals.
April saw a total of $75.82 billion of leveraged loans come to market, compared to $110.13 billion in March and $99.82 billion in April 2013.
Year to date, JPMorgan is the top arranger with $54.16 billion in 137 deals, Bank of America is second with $40.64 billion in 145 deals and Credit Suisse is third with $33.82 billion in 113 deals.
Total issuance year to date is $390.41 billion, versus $423.19 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 | 54.162 | 137 | 13.87% | 1 | 68.092 | 156 | 16.09%
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| 2 | Bank of America | 40.636 | 145 | 10.41% | 2 | 50.613 | 168 | 11.96%
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| 3 | Credit Suisse | 33.824 | 113 | 8.66% | 3 | 38.513 | 117 | 9.10%
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| 4 | Deutsche Bank | 29.481 | 92 | 7.55% | 5 | 36.666 | 104 | 8.66%
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| 5 | Wells Fargo | 23.268 | 93 | 5.96% | 7 | 24.261 | 97 | 5.73%
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| 6 | Goldman Sachs | 22.044 | 80 | 5.65% | 9 | 22.280 | 89 | 5.26%
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| 7 | Citigroup | 20.709 | 69 | 5.30% | 6 | 28.766 | 79 | 6.80%
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| 8 | Barclays | 20.706 | 74 | 5.30% | 4 | 36.966 | 107 | 8.74%
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| 9 | Morgan Stanley | 17.179 | 71 | 4.40% | 8 | 23.995 | 86 | 5.67%
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| 10 | RBC | 15.570 | 62 | 3.99% | 11 | 11.132 | 58 | 2.63%
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| Total | 390.406 | 595 | 423.192 | 623 |
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| Average size: | 0.656 | 0.679 |
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| Leveraged loans, April |
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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 | 12.636 | 27 | 16.67% | 3 | 9.577 | 44 | 9.59%
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| 2 | Bank of America | 6.910 | 23 | 9.11% | 1 | 17.331 | 53 | 17.36%
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| 3 | Credit Suisse | 6.710 | 25 | 8.85% | 2 | 11.721 | 43 | 11.74%
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| 4 | Deutsche Bank | 5.805 | 13 | 7.66% | 4 | 7.584 | 26 | 7.60%
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| 5 | Barclays | 4.943 | 14 | 6.52% | 5 | 7.475 | 26 | 7.49%
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| 6 | Wells Fargo | 4.680 | 21 | 6.17% | 7 | 6.141 | 30 | 6.15%
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| 7 | Morgan Stanley | 4.320 | 13 | 5.70% | 9 | 5.204 | 23 | 5.21%
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| 8 | Goldman Sachs | 3.837 | 18 | 5.06% | 6 | 6.362 | 32 | 6.37%
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| 9 | Citigroup | 3.271 | 12 | 4.31% | 8 | 5.426 | 22 | 5.44%
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| 10 | RBC | 3.130 | 14 | 4.13% | 13 | 1.804 | 9 | 1.81%
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| Total | 75.815 | 140 | 99.824 | 165 |
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| Average size: | 0.542 | 0.605 |
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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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