• Leveraged loan issuance totals $51.30 billion in January
New York, Jan. 31 - Citigroup took the number one position among arrangers of leveraged loans for January amid a huge surge in issuance, according to data compiled by Prospect News.
Banc of America - number one for December - was second in January, while JPMorgan, the top bank for all of 2005, came in third.
Meanwhile, new deal volume for the month soared to $51.30 billion, approaching double the $28.40 billion for January 2005. The monthly average for all of 2005 was $31.65 billion.
Boosting the total were deals for Georgia-Pacific Corp., an $11 billion transaction, NRG Energy Inc., a $5.58 billion facility, Hilton Hotels Corp., a $5.5 billion loan, General Growth Properties, a $3.5 billion facility, UAL Corp., a $3 billion exit loan, Ameritrade Holding Corp., at $2.2 billion, and Calpine Corp.'s $2 billion DIP facility.
Citigroup was joint lead arranger with Banc of America on Georgia-Pacific, with Morgan Stanley on NRG, with JPMorgan on UAL and sole lead on Ameritrade.
In total, Citigroup handled $13.40 billion of new loans in the month, far more than Banc of America's $8.75 billion.
The Prospect News figures cover dollar-denominated deals in the United States. Credit for deals is divided among the lead arrangers.
January 2006
2005 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Citigroup | 13.396 | 11 | 26.12% | 4 | 2.440 | 7 | 8.59%
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| 2 | Banc of America | 8.748 | 13 | 17.05% | 1 | 4.824 | 16 | 16.99%
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| 3 | JPMorgan | 5.688 | 11 | 11.09% | 2 | 4.288 | 17 | 15.10%
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| 4 | Deutsche Bank | 4.412 | 4 | 8.60% | 5 | 2.200 | 5 | 7.75%
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| 5 | Morgan Stanley | 3.736 | 4 | 7.28% | 7 | 1.215 | 3 | 4.28%
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| 6 | UBS | 3.625 | 4 | 7.07% | 10 | 0.800 | 5 | 2.82%
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| 7 | Wachovia | 3.152 | 8 | 6.15% | 12 | 0.705 | 4 | 2.48%
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| 8 | Credit Suisse | 1.972 | 5 | 3.84% | 3 | 2.884 | 11 | 10.16%
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| 9 | Goldman Sachs | 0.713 | 2 | 1.39% | 9 | 1.020 | 4 | 3.59%
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| 10 | Merrill Lynch | 0.664 | 3 | 1.29% | 16 | 0.500 | 2 | 1.76%
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| Total | 51.295 | 61 | 28.396 | 68 |
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| Average size: | 0.841 | 0.418
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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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