• Leveraged loan issuance totals $258.608 billion year to date
By Sara Rosenberg
New York, May 31 - JPMorgan continued its reign at the top of the leveraged loans league tables, bringing $7.59 billion in 25 deals in May, according to data compiled by Prospect News.
In second place was Goldman Sachs with $6.35 billion in 17 deals, and in third place was Bank of America with $6.02 billion in 24 deals.
Year to date, JPMorgan is in first place with $44.64 billion in 142 deals, Bank of America is in second with $30.85 billion in 138 deals and Wells Fargo is in third with $22.3 billion in 103 deals.
May saw a total of $56.93 billion of leveraged loans come to market, compared to $46.73 billion in April and $77.19 billion in May 2011.
Year-to-date volume totals $258.61 billion, versus $369.684billion in the comparable time last year.
The Prospect News figures cover dollar-denominated deals in the United States for borrowers with $75 million or more of bank debt outstanding. Debtor-in-possession facilities are included. Credit for deals is divided among the lead arrangers.
Year to date
2011 Comparables
| Underwriter | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | JPMorgan | 44.638 | 142 | 17.26% | 1 | 68.800 | 171 | 18.61%
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| 2 | Bank of America | 30.854 | 138 | 11.93% | 2 | 63.560 | 200 | 17.19%
|
| 3 | Wells Fargo | 22.299 | 103 | 8.62% | 4 | 23.813 | 97 | 6.44%
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| 4 | Credit Suisse | 17.339 | 76 | 6.70% | 3 | 26.070 | 75 | 7.05%
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| 5 | Goldman Sachs | 14.033 | 56 | 5.43% | 9 | 14.936 | 46 | 4.04%
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| 6 | Citigroup | 13.649 | 65 | 5.28% | 8 | 16.010 | 53 | 4.33%
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| 7 | Deutsche Bank | 13.467 | 63 | 5.21% | 7 | 17.659 | 57 | 4.78%
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| 8 | Morgan Stanley | 13.443 | 45 | 5.20% | 6 | 19.340 | 47 | 5.23%
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| 9 | Barclays | 12.894 | 62 | 4.99% | 5 | 23.148 | 63 | 6.26%
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| 10 | UBS | 7.339 | 34 | 2.84% | 12 | 8.091 | 37 | 2.19%
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| Total | 258.608 | 521 | 369.684 | 617 |
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| Average size: | 0.496 | 0.599 |
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| May |
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| | | | | 2011 Comparables |
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| Underwriter | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 7.586 | 25 | 13.33% | 1 | 15.661 | 37 | 20.29%
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| 2 | Goldman Sachs | 6.346 | 17 | 11.15% | 7 | 3.626 | 10 | 4.70%
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| 3 | Bank of America | 6.023 | 24 | 10.58% | 2 | 9.152 | 31 | 11.86%
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| 4 | Wells Fargo | 5.512 | 23 | 9.68% | 4 | 5.215 | 18 | 6.76%
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| 5 | Citigroup | 4.122 | 16 | 7.24% | 8 | 3.460 | 12 | 4.48%
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| 6 | Credit Suisse | 4.024 | 20 | 7.07% | 6 | 3.776 | 14 | 4.89%
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| 7 | Deutsche Bank | 3.025 | 12 | 5.31% | 11 | 2.624 | 9 | 3.40%
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| 8 | Jefferies | 2.866 | 5 | 5.03% | 20 | 0.521 | 5 | 0.68%
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| 9 | Barclays | 2.624 | 8 | 4.61% | 9 | 3.190 | 13 | 4.13%
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| 10 | Morgan Stanley | 2.393 | 10 | 4.20% | 3 | 8.213 | 13 | 10.64%
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| Total | 56.926 | 106 | 77.192 | 124 |
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| Average size: | 0.537 | 0.623 |
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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.
• Borrower must have $75 million or more of bank debt outstanding for inclusion.
• All loans are leveraged: either they are rated speculative-grade by Moody's Investors Service or Standard & Poor's or, if unrated, the interest rate margin is 150 bps or higher.
• The tables include 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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