February 1999
Leveraged Loans: Who's top anyway?
| 1998 leveraged book manager league table |
|
1998 |
1997 |
| Firm |
Rank |
Volume |
Rank |
Volume |
|
|
($bn) |
|
($bn) |
| Chase |
1 |
76.1 |
1 |
50.3 |
| BankAmerica/NationsBank |
2 |
49.8 |
2 |
32.9 |
| Bankers Trust |
3 |
27.7 |
3 |
24.7 |
| Lehman Brothers |
4 |
15.4 |
10 |
5.4 |
| Toronto Dominion |
5 |
14.8 |
6 |
6.3 |
| JP Morgan |
6 |
12.9 |
8 |
5.9 |
| Bank One/First Chicago |
7 |
12.6 |
5 |
7 |
| Salomon Smith Barney/Citicorp |
8 |
10.8 |
4 |
17.4 |
| Bank Boston |
9 |
9.9 |
12 |
4.7 |
| Donaldson Lufkin & Jenrette |
10 |
9.7 |
17 |
3 |
| Credit Suisse First Boston |
13 |
8 |
16 |
4 |
| Goldman Sachs |
15 |
4.8 |
15 |
4 |
| Merrill Lynch |
18 |
3.6 |
25 |
1.3 |
| Morgan Stanley |
N/A |
N/A |
23 |
1.6 |
| Source:Security Data Company |
Leveraged syndicated lending has become hotly fought over in the past few years. Investment and commercial banks are keen to make their names in leveraged buy-outs and investment banks - long leaders on the advisory side as well as in bond and equity finance - seem to be closing the gap on commercial banks in senior lending as well. Firms pride themselves on being able to offer "one-stop shopping" - for loans, M&A advisory and bond underwriting - to their clients.
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