CSFB top high yield underwriter year to date

* High yield issuance $41.49 billion year to date

* Goldman Sachs top high yield underwriter in July

* High yield issuance $1.30 billion in July

New York, July 31 - High-yield bond issuance slumped to $1.30 billion in July, its lowest monthly figure since the $363.15 million recorded in September 2001, according to data compiled by Prospect News.

The month's total was well below any month since the Sept. 11 terrorist attacks depressed new bond sales; until July the post-September low point was October 2001 which saw $3.46 billion, almost three times the July 2002 figure.

July's volume was also little more than half the $2.57 billion recorded in July 2001.

The year-to-date new-issue volume of $41.49 billion is now 72.4% of the $57.33 billion at the same point last year.

With primary activity low, the year-to-date rankings of underwriters are mostly unchanged from June.

Credit Suisse First Boston remains number one with $7.30 billion of new deals, well ahead of Salomon Smith Barney in second place with $4.90 billion.

For July itself, Goldman Sachs & Co. was the top-placed underwriter, bringing to market $426.3 million of issuance.

2002 Year To Date

2001 Comparables

	Underwriter	Amount	No.	Rank	Amount	No.
1.	CS First Boston	7,302.09	50	1	9,014.08	43
2.	Salomon SB	4,904.62	33	2	8,239.49	34
3.	Deutsche Bank	4,277.15	27	7	3,875.95	24
5.	JP Morgan	3,983.24	30	6	4,549.01	28
4.	Banc of America	3,967.60	30	5	5,377.68	33
7.	Goldman Sachs	3,583.54	11	3	7,377.92	27
6.	Lehman	3,521.90	18	8	3,742.08	18
8.	Morgan Stanley	2,710.58	16	4	5,779.38	21
9.	UBS Warburg	2,524.73	15	10	2,052.55	12
10.	Merrill Lynch	986.38	7	9	3,721.67	17
11.	Bear Stearns	974.33	7	11	1,873.70	11
12.	Dresdner KW	519.80	4	17	123.65	1
13.	Wachovia	503.64	6	19	37.30	1
14.	CIBC	418.88	5	15	245.05	2
15.	Jefferies	379.41	5	12	497.20	5
17.	BMO	267.39	3	-	-	-
16.	TD Securities	265.54	2	14	275.00	2
18.	ABN Amro	198.67	1	-	-	-
19.	ING	128.01	1	-	-	-
20.	Scotia	40.54	1	-	-	-
	Total	$41,485.50	175	$57,332.61	198
	Average size	$237.06	$289.56
July 2002
					2001 Comparables
	Underwriter	Amount	No.	Rank	Amount	No.
1.	Goldman Sachs	426.25	2	6	112.50	1
2.	Salomon SB	348.31	2	10	75.00	1
3.	JP Morgan	125.00	1	-	-	-
4.	UBS Warburg	123.94	1	-	-	-
5.	CS First Boston	123.40	1	1	703.10	4
6.	Banc of America	100.34	1	3	425.00	4
7.	BMO	51.85	1	-	-	-
	Total	$1,299.08	7	$2,571.90	14
	Average size	$185.58	$183.71
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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