• Leveraged loan issuance totals $583.25 billion year to date
• JPMorgan top leveraged loan arranger in November
• Leveraged loan issuance totals $69.17 billion in November
New York, Nov. 30 - JPMorgan was once more the top arranger of leveraged loans for the year so far and significantly expanded its lead in the most recent month, according to data compiled by Prospect News.
Through the end of November, the bank is $23.0 billion ahead of Banc of America in second place, up from a $17.4 billion margin through the end of October.
Banc of America had moved up to second place in October, pushing Citigroup into third, where it remains.
JPMorgan was helped by its role as joint lead arranger on several substantial deals in November, including Ford Motor Co.'s $15 billion transaction, for which JPMorgan is joint lead with Citigroup and Goldman Sachs; Nautilus Holdings Intermediate Corp.'s $1.325 billion deal, which has JPMorgan with General Electric Capital Corp. and UBS; General Motors Corp.'s $1.5 billion term loan, being handled by JPMorgan and Credit Suisse; Reliant Energy Inc.'s $1.5 billion facility coming via Banc of America, Deutsche Bank and JPMorgan; Fidelity National Information Services Inc.'s $3.1 billion of loans via JPMorgan, Banc of America and Wachovia; and Oshkosh Truck Corp.'s $3.65 billion deal via Banc of America and JPMorgan.
Meanwhile new deal volume remained strong at $69.17 billion for the month, although down from October's huge $75.0 billion of activity, boosted by HCA, Inc.'s $16.8 billion facility.
Year-to-date volume is now $583.3 billion, 66% ahead of the $351.3 billion at the same stage in 2005.
The Prospect News figures cover dollar-denominated deals in the United States. Credit for deals is divided among the lead arrangers.
Year to date 2006
2005 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 102.097 | 198 | 17.50% | 1 | 66.882 | 165 | 19.04%
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| 2 | Banc of America | 79.035 | 174 | 13.55% | 2 | 43.077 | 145 | 12.26%
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| 3 | Citigroup | 77.121 | 91 | 13.22% | 3 | 41.597 | 95 | 11.84%
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| 4 | Credit Suisse | 50.168 | 133 | 8.60% | 4 | 28.114 | 106 | 8.00%
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| 5 | Deutsche Bank | 30.799 | 69 | 5.28% | 5 | 23.846 | 57 | 6.79%
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| 6 | Goldman Sachs | 29.259 | 69 | 5.02% | 8 | 16.931 | 50 | 4.82%
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| 7 | Wachovia | 21.732 | 79 | 3.73% | 7 | 17.878 | 72 | 5.09%
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| 8 | Merrill Lynch | 20.711 | 50 | 3.55% | 10 | 8.529 | 31 | 2.43%
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| 9 | Morgan Stanley | 18.213 | 43 | 3.12% | 13 | 5.469 | 24 | 1.56%
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| 10 | UBS | 16.822 | 64 | 2.88% | 9 | 9.117 | 41 | 2.60%
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| Total | 583.250 | 954 | 351.279 | 774 |
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| Average size: | 0.611 | 0.454 |
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| November 2006
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| | | | | 2005 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 12.702 | 19 | 18.36% | 3 | 3.944 | 18 | 9.43%
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| 2 | Citigroup | 11.422 | 9 | 16.51% | 2 | 4.734 | 13 | 11.32%
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| 3 | Credit Suisse | 8.715 | 12 | 12.60% | 7 | 2.820 | 14 | 6.74%
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| 4 | Banc of America | 8.270 | 17 | 11.96% | 5 | 3.348 | 12 | 8.00%
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| 5 | Goldman Sachs | 8.214 | 11 | 11.88% | 6 | 3.268 | 10 | 7.81%
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| 6 | Deutsche Bank | 4.575 | 6 | 6.61% | 9 | 2.105 | 5 | 5.03%
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| 7 | Wachovia | 4.401 | 12 | 6.36% | 4 | 3.430 | 16 | 8.20%
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| 8 | UBS | 1.882 | 6 | 2.72% | 10 | 1.972 | 9 | 4.71%
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| 9 | GECC | 1.770 | 8 | 2.56% | 13 | 0.990 | 6 | 2.37%
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| 10 | Morgan Stanley | 1.595 | 5 | 2.31% | 15 | 0.590 | 3 | 1.41%
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| Total | 69.166 | 89 | 41.834 | 106 |
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| Average size: | 0.777 | 0.395 |
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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.
• Deals must be $75 million or bigger for inclusion.
• All loans are leveraged: either the interest rate margin is 150 bps or higher or they are rated speculative-grade by Moody's Investors Service or Standard & Poor's.
• Includes 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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