By Cristal Cody
Tupelo, Miss., May 30 - Citigroup Global Markets Inc. remains the top placement agent for CLO deals brought year-to-date, while BofA Merrill Lynch ranks as the No. 1 arranger in May following Onex Corp.'s $1 billion offering, according to data compiled by Prospect News.
Citigroup arranged $7.4 billion of CLO transactions in the first five months of the year for a 14.43% share of the market. In May, Citigroup ranked as the No. 3 placement agent with $1.2 billion, or 11.48%, of all deals placed over the month.
The firm arranged 3i Debt Management U.S. LLC's upsized $617.4 million Jamestown CLO IV Ltd./Jamestown CLO IV Corp. transaction that priced on Wednesday.
Citi also arranged Columbia Management Investment Advisors, LLC's $621.05 million Cent CLO 21 Ltd./Cent CLO 21 Corp. deal brought on May 15.
More than $10 billion of CLO deals priced in May, according to the data.
Year-to-date, nearly $52 billion of CLOs have priced globally, the Prospect News figures show.
BofA Merrill Lynch was the No. 1 placement agent in May in all deals priced over the month, data shows. The firm brought about $2 billion, or 18.88%, of CLO transactions during the month.
Year-to-date, BofA Merrill Lynch ranks as the second top placement agent. The firm has arranged $6.9 billion, or 13.31%, of CLO deals priced through May.
BofA Merrill Lynch arranged Onex Credit Partners LLC's $1 billion OCP CLO 2014-6 Ltd./OCP CLO 2014-6 Corp. deal priced on May 22.
It was also placement agent for Anchorage Capital Group, LLC's $621.5 million Anchorage Capital CLO 4, Ltd./Anchorage Capital CLO 4, LLC deal brought on May 2 and Hildene Leveraged Credit, LLC's $413.75 Hildene CLO II, Ltd./Hildene CLO II LLC transaction priced on May 8.
Morgan Stanley & Co. LLC continues to hold on to the No. 3 arranger ranking year-to-date, according to the data. Morgan Stanley has brought $6 billion, or 11.6%, of all deals priced in the first five months of the year.
The firm ranked as the No. 2 placement agent in May with $1.5 billion, or 14.38%, of all deals priced over the month in the U.S. and European primary markets, according to data.
Morgan Stanley arranged Symphony Asset Management LLC's $838 million Symphony CLO XIV, Ltd./Symphony CLO XIV LLC deal priced on May 6.
The firm also arranged Avoca Capital Holdings' €518.5 million Avoca CLO XI Ltd. deal priced on May 9.
CLOs, all currencies, year to date
| Lead arranger | Amount | No. | Share
|
| 1 | Citigroup | 7.499 | 16 | 14.43%
|
| 2 | Bank of America | 6.918 | 12 | 13.31%
|
| 3 | Morgan Stanley | 6.032 | 9 | 11.60%
|
| 4 | Wells Fargo | 4.480 | 9 | 8.62%
|
| 5 | JPMorgan | 3.795 | 7 | 7.30%
|
| 6 | Credit Suisse | 3.786 | 7 | 7.28%
|
| 7 | Deutsche Bank | 3.476 | 7 | 6.69%
|
| 8 | Goldman Sachs | 2.638 | 4 | 5.08%
|
| 9 | RBS | 2.573 | 6 | 4.95%
|
| 10 | BNP | 2.010 | 4 | 3.87%
|
| Total | 51.976 | 99 |
|
| Average size: | 0.525 |
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| CLOs, all currencies, May |
|
|
|
| Lead arranger | Amount | No. | Share
|
| 1 | Bank of America | 2.037 | 3 | 18.88%
|
| 2 | Morgan Stanley | 1.552 | 2 | 14.38%
|
| 3 | Citigroup | 1.238 | 2 | 11.48%
|
| 4 | Wells Fargo | 1.219 | 2 | 11.30%
|
| 5 | JPMorgan | 1.031 | 2 | 9.55%
|
| 6 | Deutsche Bank | 0.873 | 2 | 8.09%
|
| 7 | Credit Suisse | 0.717 | 1 | 6.65%
|
| 8 | Santander | 0.686 | 1 | 6.36%
|
| 9 | Mitsubishi | 0.618 | 1 | 5.72%
|
| 10 | Barclays | 0.459 | 1 | 4.25%
|
| 11 | GreensLedge | 0.358 | 1 | 3.32%
|
| Total | 10.787 | 18 |
|
| Average size: | 0.599 |
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| CLOs, dollar denominated, year to date |
|
|
|
| Lead arranger | Amount | No. | Share
|
| 1 | Citigroup | 7.499 | 16 | 16.41%
|
| 2 | Bank of America | 5.784 | 10 | 12.65%
|
| 3 | Morgan Stanley | 5.318 | 8 | 11.63%
|
| 4 | Wells Fargo | 4.480 | 9 | 9.80%
|
| 5 | Credit Suisse | 3.271 | 6 | 7.16%
|
| 6 | JPMorgan | 3.086 | 6 | 6.75%
|
| 7 | Deutsche Bank | 2.873 | 6 | 6.29%
|
| 8 | RBS | 2.281 | 5 | 4.99%
|
| 9 | Goldman Sachs | 2.018 | 3 | 4.41%
|
| 10 | Jefferies | 1.824 | 5 | 3.99%
|
| Total | 45.708 | 89 |
|
| Average size: | 0.514 |
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| CLOs, dollar denominated, May |
|
|
|
| Lead arranger | Amount | No. | Share
|
| 1 | Bank of America | 2.037 | 3 | 21.70%
|
| 2 | Citigroup | 1.238 | 2 | 13.19%
|
| 3 | Wells Fargo | 1.219 | 2 | 12.99%
|
| 4 | JPMorgan | 1.031 | 2 | 10.98%
|
| 5 | Deutsche Bank | 0.873 | 2 | 9.30%
|
| 6 | Morgan Stanley | 0.838 | 1 | 8.93%
|
| 7 | Credit Suisse | 0.717 | 1 | 7.64%
|
| 8 | Mitsubishi | 0.618 | 1 | 6.58%
|
| 9 | Barclays | 0.459 | 1 | 4.88%
|
| 10 | GreensLedge | 0.358 | 1 | 3.81%
|
| Total | 9.388 | 16 |
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| Average size: | 0.587 |
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| Prospect News CLO Underwriter Rankings
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Criteria
• Offerings are included in the time period in which they price (if the pricing date is available), otherwise in the time period in which they settle.
• Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the bookrunner. For multiple bookrunners, the total value is divided equally among all the firms.
• Numeric totals are for the number of deals (not tranches).
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