CSFB top high yield underwriter year to date

* High yield issuance $42.66 billion year to date

* JP Morgan top high yield underwriter in August

* High yield issuance $1.18 billion in August

New York, August 30 - High-yield bond issuance slumped again in August, to just $1.18 billion in six deals, below July's paltry $1.30 billion in seven deals and the lowest monthly figure since the $363.15 million recorded in September 2001, according to data compiled by Prospect News.

The totals for the past two months are 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 and August 2002 figures.

August's volume was also less than a quarter of the $5.17 billion recorded in August 2001.

Year-to-date new-issue volume of $42.66 billion is now 68.3% of the $62.50 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 $7.58 billion of new deals, well ahead of Salomon Smith Barney in second place with $5.03 billion.

For August, JP Morgan was the top-placed underwriter, bringing to market $300.1 million of issuance.

2002 Year To Date

2001 Comparables

	Underwriter	Amount	No.	Rank	Amount	No.
1.	CS First Boston	7,584.87	52	1	9,846.75	49
2.	Salomon SB	5,027.61	34	2	8,312.49	35
3.	Deutsche Bank	4,364.65	28	7	4,325.95	26
4.	JP Morgan	4,283.37	32	6	5,647.38	36
5.	Banc of America	3,967.60	30	5	5,842.45	37
6.	Lehman	3,644.88	19	9	3,954.18	20
7.	Goldman Sachs	3,583.54	11	3	8,197.52	32
8.	Morgan Stanley	2,710.58	16	4	6,028.18	23
9.	UBS Warburg	2,648.69	16	10	2,250.65	13
10.	Merrill Lynch	986.38	7	8	4,168.57	20
11.	Bear Stearns	974.33	7	11	2,023.20	13
12.	Dresdner KW	519.80	4	17	123.65	1
13.	Jefferies	514.41	6	12	598.10	6
14.	Wachovia	503.64	6	19	37.30	1
15.	CIBC	418.88	5	15	245.05	2
16.	BMO	267.39	3	-	-	-
17.	TD Securities	265.54	2	13	348.00	3
18.	ABN Amro	198.67	1	-	-	-
19.	ING	128.01	1	-	-	-
20.	Scotia	40.54	1	-	-	-
	Total	$42,660.84	181	$62,500.21	222
	Average size	$235.70	$281.53
August 2002
					2001 Comparables
	Underwriter	Amount	No.	Rank	Amount	No.
1.	JP Morgan	300.13	2	1	1,098.37	8
2.	CS First Boston	282.78	2	2	832.67	6
3.	Jefferies	135.00	1	11	100.90	1
4.	UBS Warburg	123.96	1	9	198.10	1
5.	Lehman	122.99	1	8	212.10	2
6.	Salomon SB	122.99	1	12	73.00	1
7.	Deutsche	87.50	1	5	450.00	2
	Total	$1,175.34	6	$5,167.60	24
	Average size	$195.89	$215.32
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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