JPMorgan top arranger on leveraged loans league tables for first quarter

• Leveraged loan issuance totals $309.90 billion year to date

New York, March 28 - JPMorgan continued in first place among arrangers of leveraged loans, taking the top spot for the first quarter, according to data compiled by Prospect News.

The bank had led in the year-to-date rankings the previous month, for the period through February. It also placed first for the month of March.

Bank of America was second, up from third for the year through February, while Barclays was third, up from fifth. Deutsche Bank slipped to fourth from second and Credit Suisse eased to fifth from fourth.

For the year so far, JPMorgan has arranged $55.01 billion of loans, or 17.8% of the market.

Leveraged loan activity in March was $91.01 billion, down from $120.06 billion in February and a little lower than $98.83 billion in January. However March's total was still higher than all but one month of 2012.

Year-to-date issuance of $309.90 billion is just over double the $152.41 billion for the first quarter of 2012.

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.

Leveraged loans, year to date

2012 Comparables

	Lead arranger	Amount	No.	Share	Rank	Amount	No.	Share
1	JPMorgan	55.014	107	17.75%	1	24.202	88	15.88%
2	Bank of America	30.189	109	9.74%	2	19.172	93	12.58%
3	Barclays	29.364	79	9.48%	7	7.543	46	4.95%
4	Deutsche Bank	27.739	78	8.95%	6	8.875	42	5.82%
5	Credit Suisse	27.204	75	8.78%	4	9.742	42	6.39%
6	Citigroup	22.540	55	7.27%	8	7.452	38	4.89%
7	Morgan Stanley	17.566	62	5.67%	5	9.069	28	5.95%
8	Goldman Sachs	16.444	58	5.31%	9	5.440	30	3.57%
9	Wells Fargo	16.369	62	5.28%	3	11.599	59	7.61%
10	RBC	10.292	50	3.32%	11	4.270	31	2.80%
	Total	309.900	438	152.411	323
	Average size:	0.708	0.472
Leveraged loans, March
					2012 Comparables
	Lead arranger	Amount	No.	Share	Rank	Amount	No.	Share
1	JPMorgan	22.452	46	24.67%	2	7.957	36	13.70%
2	Wells Fargo	9.092	27	9.99%	3	5.860	24	10.09%
3	Barclays	8.937	22	9.82%	4	4.511	28	7.77%
4	Bank of America	8.678	34	9.54%	1	8.280	43	14.26%
5	Credit Suisse	6.151	23	6.76%	5	4.171	19	7.18%
6	Citigroup	4.585	11	5.04%	8	3.127	16	5.38%
7	Morgan Stanley	3.654	16	4.02%	6	3.666	13	6.31%
8	GECC	3.567	12	3.92%	9	2.490	15	4.29%
9	Deutsche Bank	3.290	15	3.62%	7	3.493	20	6.01%
10	Goldman Sachs	2.909	9	3.20%	11	1.766	12	3.04%
	Total	91.006	135	58.072	124
	Average size:	0.674	0.468
Prospect News Leveraged Loan Arranger Rankings

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.