• Leveraged loan issuance totals $326.93 billion year to date
• JPMorgan top leveraged loan arranger in Q2
• Leveraged loan issuance totals $178.60 billion in Q2
• JPMorgan top leveraged loan arranger in June
• Leveraged loan issuance totals $77.96 billion in June
New York, June 30 - JPMorgan held on to its top position among arrangers of leveraged loans for the year so far, according to data compiled by Prospect News.
The bank had moved into the number one position in May, pushing off Banc of America, which had been first for the year through April. Citigroup had been the leader for January, the year through February and the year through March.
In June, JPMorgan expanded its lead to $3.22 billion, although Citigroup was close behind Banc of America, with just $0.43 billion separating the two. At the end of May, only 0.69% of market share or $1.68 billion of deals differentiated the three banks.
JPMorgan was the top bank for all of 2005.
New issuance surged to even stronger levels, totaling $77.96 billion for the month, the best performance for the year so far.
That was up from $55.77 billion in May and $44.83 billion in April.
Total volume so far this year now totals $326.93 billion, 75% ahead of the $186.45 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
|
| 1 | JPMorgan | 48.818 | 103 | 14.93% | 1 | 38.639 | 92 | 20.72%
|
| 2 | Banc of America | 44.496 | 99 | 13.61% | 2 | 24.278 | 73 | 13.02%
|
| 3 | Citigroup | 44.062 | 53 | 13.48% | 3 | 18.983 | 50 | 10.18%
|
| 4 | Credit Suisse | 27.047 | 80 | 8.27% | 4 | 16.647 | 64 | 8.93%
|
| 5 | Deutsche Bank | 17.648 | 43 | 5.40% | 5 | 14.256 | 35 | 7.65%
|
| 6 | Goldman Sachs | 15.525 | 38 | 4.75% | 7 | 9.107 | 27 | 4.88%
|
| 7 | Merrill Lynch | 11.515 | 32 | 3.52% | 12 | 2.827 | 12 | 1.52%
|
| 8 | Wachovia | 11.457 | 41 | 3.50% | 6 | 10.225 | 37 | 5.48%
|
| 9 | UBS | 9.156 | 33 | 2.80% | 9 | 4.848 | 21 | 2.60%
|
| 10 | Morgan Stanley | 8.502 | 0.2 | 2.60% | 14 | 2.380 | 10 | 1.28%
|
| Total | 326.925 | 536 | 186.447 | 398 |
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|
|
| Average size: | 0.610 | 0.468 |
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| Q2 | 2006
|
| | | | | 2005 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 25.033 | 52 | 14.02% | 1 | 22.418 | 51 | 22.71%
|
| 2 | Banc of America | 21.968 | 52 | 12.30% | 2 | 13.162 | 38 | 13.34%
|
| 3 | Credit Suisse | 17.523 | 51 | 9.81% | 4 | 7.980 | 35 | 8.08%
|
| 4 | Citigroup | 16.525 | 23 | 9.25% | 3 | 10.122 | 28 | 10.26%
|
| 5 | Goldman Sachs | 12.049 | 26 | 6.75% | 8 | 4.554 | 14 | 4.61%
|
| 6 | Merrill Lynch | 7.695 | 22 | 4.31% | 13 | 1.755 | 7 | 1.78%
|
| 7 | Deutsche Bank | 6.614 | 24 | 3.70% | 5 | 6.004 | 13 | 6.08%
|
| 8 | Lehman | 5.388 | 21 | 3.02% | 6 | 5.562 | 11 | 5.63%
|
| 9 | RBS | 5.376 | 5 | 3.01% | 18 | 0.754 | 5 | 0.76%
|
| 10 | Wachovia | 3.927 | 18 | 2.20% | 7 | 4.817 | 20 | 4.88%
|
| Total | 178.603 | 295 | 98.701 | 211 |
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| Average size: | 0.605 | 0.468 |
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| June 2006
|
| | | | | 2005 Comparables
|
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 9.791 | 24 | 12.56% | 3 | 5.911 | 20 | 12.44%
|
| 2 | Banc of America | 6.799 | 22 | 8.72% | 1 | 9.019 | 20 | 18.99%
|
| 3 | Merrill Lynch | 5.310 | 9 | 6.81% | 11 | 1.325 | 5 | 2.79%
|
| 4 | Credit Suisse | 5.200 | 18 | 6.67% | 5 | 3.906 | 15 | 8.22%
|
| 5 | Goldman Sachs | 3.679 | 7 | 4.72% | 9 | 1.455 | 4 | 3.06%
|
| 6 | Citigroup | 3.047 | 5 | 3.91% | 2 | 6.028 | 16 | 12.69%
|
| 7 | Bear Stearns | 2.933 | 5 | 3.76% | 16 | 0.637 | 2 | 1.34%
|
| 8 | UBS | 2.106 | 12 | 2.70% | 10 | 1.367 | 4 | 2.88%
|
| 9 | Lehman | 2.060 | 8 | 2.64% | 13 | 0.860 | 5 | 1.81%
|
| 10 | Deutsche Bank | 1.274 | 6 | 1.63% | 4 | 4.013 | 7 | 8.45%
|
| Total | 77.964 | 117 | 47.499 | 96 |
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| Average size: | 0.666 | 0.495
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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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