Credit Suisse First Boston top high yield underwriter year to date

* J.P. Morgan top high yield underwriter in November

* High yield issuance $3.93 billion in November

* High yield issuance $69.3 billion year to date

New York, Nov. 30 - Credit Suisse First Boston held on to its place as top underwriter of high-yield debt so far this year but J.P. Morgan took the number one spot in November and moved up two places in the year-to-date rankings, according to data compiled by Prospect News.

Issuance volume, meanwhile, continue its recovery from September's extraordinarily low figure and was more than double the year-ago level.

So far this year, CSFB has brought to market $11.07 billion of junk bonds in 55 deals, putting it comfortably ahead of number two Salomon Smith Barney at $9.24 billion - although Salomon did move up to its current position from third place in October.

However J.P. Morgan was easily the busiest firm in November, bringing to market $1.35 billion of high-yield debt in six deals, approaching double that of the number two in the month Salomon, which handled $725.6 million.

The month's total issuance - the Prospect News data counts all high-yield deals that settled in November - was $3.93 billion, more than 50% better than October's $2.55 billion and way ahead of the $1.64 billion seen in November 2000. With this volume, new deal activity continues the rebound from the $363.15 million recorded in September when the Sept. 11 terrorist attacks shuttered new bond issuance.

However, activity still did not match the average so far this year. Including November, average monthly issuance is $6.30 billion.

Details are as follows:

NOVEMBER

November 2000

	Dealer	Amount	No. Deals	Rank	Amount	Number
	1.	J.P. Morgan	1348.96	6	4	191.80	2
	2.	Salomon SB	725.55	2	5	85.00	1
	3.	CS First Boston	524.84	3	1	737.70	3
	4.	Lehman Brothers	290.00	2	-	-	-
	5.	Banc of America	264.01	3	-	-	-
	6.	Merrill Lynch	237.69	2	-	-	-
	7.	UBS Warburg	176.50	2	-	-	-
	8.	Bear Stearns	124.84	1	-	-	-
	9.	Morgan Stanley	80.23	1	3	197.30	1
	10.	Deutsche Banc AB	76.32	1	-	-	-
	Total	3929.45	17	1643.50	6
	Average size	231.14	273.92
YEAR TO DATE
					2000 Comparables
	Dealer	Amount	No. Deals	Rank	Amount	Number
	1.	CS First Boston	11069.25	55	1	9419.70	38
	2.	Salomon SB	9236.81	38	3	5277.60	27
	3.	Goldman Sachs	8944.05	37	2	5808.90	22
	4.	J.P. Morgan	7346.50	46	5	4664.18	23
	5.	Banc of America	6331.49	41	6	2509.88	15
	6.	Morgan Stanley	6108.41	24	4	5248.67	20
	7.	Deutsche Banc AB	4567.04	29	7	2321.70	13
	8.	Merrill Lynch	4477.34	23	8	2286.90	16
	9.	Lehman Brothers	4305.97	23	9	1625.40	7
	10.	UBS Warburg	2512.15	16	10	1308.40	6
	Total	69335.835	253	43305.15	146
	Average size	274.05	296.61
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 settle.

* 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.

End

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