MEMPHIS, TENN. (January 8, 2008) — For the 15th consecutive year, Morgan Keegan was the top underwriter for municipal bond issues in the South Central U.S. The firm managed 209 offerings with a par value of $4.2 billion, which was enough to capture a 15 percent market share and the No. 1 ranking for the region that includes Alabama, Arkansas, Kentucky, Louisiana, Mississippi and Tennessee.
Overall, Morgan Keegan served as book-running senior manager on 445 issues equating to a par value of $8.6 billion, ranking the firm 11th in the nation in 2007, according to Thomson Financial.
South Central Region
The firm’s performance in the South Central Region includes:
- Arkansas – Ranked #3 as underwriter of 27 municipal bond issues with a par value of $319 million.
- Kentucky – Ranked #2 in terms of number of issues as underwriter of 45 issues with a par value of $227 million.
- Louisiana – Ranked #1 as underwriter of 49 municipal bond issues with a par value of $1.7 billion.
- Tennessee – Ranked #1 in terms of number of issues as underwriter of 56 municipal bond issues with a par value of $1.3 billion.
Southwest United States
Morgan Keegan tied for #1 in terms of number of issues in the Southwest region of the country, an area that includes Texas, Arizona, Oklahoma, New Mexico and Louisiana.
- Texas – Ranked #1 as underwriter (full credit to each manager) of municipal bonds for Texas schools with 55 issues with a par value of $4.5 billion.
Southeastern United States
In terms of number of issues, the firm was ranked #1 in the a 10-state area that includes Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.
- Virginia – Ranked #1 in negotiated issues (full credit to each manager) with 17 transactions with a par value of $2.4 billion.
Bank Qualified Issues
Bank Qualified – Competitive
Ranked #1 nationally with 218 issues with a par amount of $1.2 billion, capturing a market share of 17 percent, nearly double that of the #2 ranked firm.
Bank Qualified – Lead Underwriter
Ranked #1 nationally with 273 issues with a par value of $1.5 billion
Small Issues – Lead Underwriter
Ranked #1 nationally as underwriter of 346 issues with a par amount of $1.8 billion.
Top-Ranked Underwriter for 2007 U.S. Agency Issuance
Ranked #1 nationally in terms of number of transactions as underwriter of 1,007 issues, thoroughly outpacing the competition.
Ranked #1 nationally in overall volume among non-Wall Street firms with $28.5 billion in underwritings.
Contact:
Melinda Rutland
Marketing Coordinator, Fixed Income Banking
Morgan Keegan & Company, Inc.
901-531-3259
melinda.rutland@morgankeegan.com
