FACTBOX: Top underwriters of auction-rate munis

Thu Aug 7, 2008 12:50pm EDT
 
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(Reuters) - Citigroup Inc, which agreed to buy back more than $7 billion of auction-rate securities as part of a settlement with regulators, has been the largest auction-rate municipal bond underwriter since 2000.

UBS is the second-largest, and JPMorgan Chase ranks third, according to Thomson Reuters data.

Citi has underwritten $55.4 billion of the securities since 2000, or about 23 percent of the market total, including $6.7 billion in 2007.

UBS has underwritten $42.4 billion since 2000.

Here are the top 10 U.S underwriters of these securities in the aggregate since 2000, followed by a year-by-year breakdown since 2003.

TOP U.S. AUCTION-RATE MUNICIPAL BOND UNDERWRITERS SINCE 2000

BOOKRUNNER PAR AMOUNT NUMBER OF ISSUES

1) Citi $55.4 billion 431

2) UBS $42.4 billion 417

3) JPMorgan Chase $31.3 billion 296

4) Morgan Stanley $22.2 billion 245

5) Goldman Sachs $21.4 billion 240

6) RBC $18.9 billion 168

7) Merrill Lynch $16.3 billion 160

8) Banc of America $14.9 billion 127

9) Lehman Brothers $10.5 billion 126  Continued...

 

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