CSFB top high yield underwriter year to date

* High yield issuance totals $91.78 billion year to date

* CSFB top high yield underwriter in August

* High yield issuance totals $8.05 billion in August

New York, Sept. 2 - Credit Suisse First Boston moved back into the number one position among underwriters of high yield bonds for the year so far, according to data compiled by Prospect News.

Meanwhile new-issue volume continued to be remarkably strong in August, especially for what is traditionally one of the quietest months of the year.

CSFB ended the month with a total of $14.49 billion of high-yield debt brought to market, the Prospect News data shows.

That put it back into first place, ahead of Citigroup with $12.92 billion.

Significantly helping CSFB was its role as bookrunner on Dynegy Inc.'s $1.45 billion offering of second priority senior secured notes in three tranches, which also helped put it on top of the underwriter rankings for the month of August.

Citigroup had been in the number one position for July although by a slim margin of $155 million.

CSFB was number for all of 2002 as well as 2001, 2000 and 1999 (including amounts for predecessor Donaldson, Lufkin & Jenrette). But this year Citigroup pulled ahead in May thanks largely to its role as sole bookrunner for another big offering in the energy sector, in this case AES Corp.'s $1.8 billion deal.

Meanwhile August saw a total of $8.05 billion of new high-yield debt brought to market, according to Prospect News data.

That was the third smallest figure this year and a big drop from July's $14.33 billion.

But it was actually almost seven times the $1.18 billion total for August 2002 and bigger than every single month of 2002 apart from April, when there was $8.40 billion of deals.

Year-to-date through the end of August 2003, issuance now totals $91.78 billion, just over double the $42.66 billion figure at the same point of 2002 and just over 1½ times the $59.65 billion total for all of 2002.

It also easily beats the $77.37 billion total for all of 2001 and the $44.44 billion for all of 2000.

Prospect News' data covers dollar-denominated high-yield deals issued in the U.S. as registered offerings or under Rule 144A.

Year to date 2003

2002 Comparables

	Underwriter	Amount	No.	Rank	Amount	No.
1.	CS First Boston	14,487.97	83	1	7,584.87	52
2.	Citigroup	12,921.88	72	2	5,027.60	34
3.	Goldman Sachs	10,433.37	42	7	3,583.54	11
4.	Deutsche Bank	9,309.37	67	3	4,364.65	28
5.	JP Morgan	9,286.71	67	4	4,283.37	32
6.	Banc of America	7,532.32	56	5	3,967.60	30
7.	Lehman	6,829.57	44	6	3,644.88	19
8.	UBS	4,683.91	35	9	2,648.69	16
9.	Morgan Stanley	4,417.95	23	8	2,710.58	16
10.	Bear Stearns	4,004.36	24	11	974.33	7
11.	Merrill Lynch	2,024.14	16	10	986.38	7
12.	Wachovia	1,957.06	16	14	505.59	6
13.	CIBC	1,059.15	11	15	418.88	5
14.	Dresdner KW	875.00	1	12	519.79	4
15.	Jefferies	766.98	7	13	514.40	6
	Total	$91,780.09	323	$42,662.79	181
	Average size	$284.15	$235.72
August 2003
					2002 Comparables
	Underwriter	Amount	No.	Rank	Amount	No.
1.	CS First Boston	2,121.38	9	2	282.78	2
2.	Deutsche Bank	959.75	8	7	87.50	1
3.	Goldman Sachs	871.91	5	-	-	-
4.	Lehman	701.75	6	6	122.99	1
5.	Banc of America	695.13	6	-	-	-
6.	JP Morgan	648.90	7	1	300.13	2
7.	Merrill Lynch	415.58	2	-	-	-
8.	Citigroup	400.32	5	5	122.99	1
9.	Wachovia	380.50	3	-	-	-
10.	Morgan Stanley	289.25	3	-	-	-
	Total	$8,050.47	31	$1,175.34	6
	Average size	$259.69	$195.89
Prospect News High Yield Underwriter Rankings

Criteria

* The tables include all dollar-denominated offerings sold in the U.S. as public or Rule 144A deals reported to Prospect News.

* Issues maturing in 397 days or less are excluded.

* Convertibles, trust preferreds, capital securities and preferred stock are excluded.

* Fixed-rate medium-term notes with a face value above $100 million are included. All other MTNs are excluded.

* Deals rated investment-grade by either Standard & Poor's or Moody's Investors Service are excluded but deals not rated by both are included.

* Offerings are included in the time period in which they price.

* Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the bookrunner. For multiple leads, the total value is divided equally among joint bookrunners.

* Units made up of a bond and a warrant are included; other units are excluded.

* Sovereign issues are excluded.

* Each tranche is counted as a separate deal.

* Passthroughs, collateral trust and equipment trust certificates are included.

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