• Leveraged loan issuance totals $192.34 billion year to date
• Banc of America top leveraged loan arranger in April
• Leveraged loan issuance totals $43.74 billion in April
New York, April 28 - Banc of America took first place among arrangers of leveraged loans for the year so far, pushing Citigroup into second place, according to data compiled by Prospect News.
However the margin separating the two firms is just $208 million or 0.16 percentage points of market share.
Citigroup has been in first place for January, the year through February and the year through March.
But for March, Banc of America came in first, and it repeated that win in April.
JPMorgan, ranked third for the year so far but only $832 million behind Citigroup, was the top bank for all of 2005.
New issuance was down somewhat from March but continued a strong pace. For April, total volume of leveraged deals was $43.74 billion compared with $54.44 billion in March.
The year-to-date total is now $192.34 billion, far ahead of the $114.28 billion at the same point 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
|
| 1 | Banc of America | 32.361 | 63 | 16.82% | 2 | 13.040 | 43 | 11.41%
|
| 2 | Citigroup | 32.053 | 37 | 16.66% | 4 | 9.750 | 26 | 8.53%
|
| 3 | JPMorgan | 31.221 | 65 | 16.23% | 1 | 23.767 | 56 | 20.80%
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| 4 | Credit Suisse | 14.937 | 42 | 7.77% | 3 | 11.025 | 40 | 9.65%
|
| 5 | Deutsche Bank | 13.435 | 30 | 6.98% | 5 | 8.790 | 25 | 7.69%
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| 6 | Wachovia | 8.257 | 28 | 4.29% | 6 | 6.773 | 23 | 5.93%
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| 7 | Goldman Sachs | 7.064 | 20 | 3.67% | 8 | 6.113 | 19 | 5.35%
|
| 8 | Morgan Stanley | 6.853 | 11 | 3.56% | 12 | 2.030 | 8 | 1.78%
|
| 9 | UBS | 6.557 | 18 | 3.41% | 9 | 3.480 | 17 | 3.05%
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| 10 | Merrill Lynch | 4.448 | 14 | 2.31% | 17 | 1.152 | 6 | 1.01%
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| Total | 192.341 | 317 | 114.275 | 252 |
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| Average size: | 0.607 | 0.453
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| April 2006
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| | | | | 2005 Comparables
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Banc of America | 9.883 | 16 | 22.59% | 4 | 1.925 | 8 | 7.26%
|
| 2 | JPMorgan | 7.487 | 14 | 17.11% | 1 | 7.547 | 15 | 28.45%
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| 3 | Credit Suisse | 5.375 | 12 | 12.29% | 3 | 2.358 | 11 | 8.89%
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| 4 | Citigroup | 4.516 | 7 | 10.32% | 9 | 0.888 | 4 | 3.35%
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| 5 | Goldman Sachs | 3.550 | 7 | 8.12% | 5 | 1.561 | 6 | 5.88%
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| 6 | Deutsche Bank | 2.225 | 11 | 5.09% | 12 | 0.538 | 3 | 2.03%
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| 7 | Lehman | 1.413 | 5 | 3.23% | 2 | 3.343 | 4 | 12.60%
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| 8 | Morgan Stanley | 0.857 | 3 | 1.96% | 13 | 0.490 | 3 | 1.85%
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| 9 | TD | 0.797 | 2 | 1.82% |
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| 10 | Scotia | 0.796 | 2 | 1.82% |
|
| Total | 43.744 | 75 | 26.529 | 65
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| Average size: | 0.583 | 0.408
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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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