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CSFB passes Salomon, Lehman tied with JPMorgan

Published 2 Min Read

With the pricing of a self-led deal last week, Credit Suisse First Boston has surpassed Salomon Smith Barney by the slimmest of margins atop the U.S. asset-backed league tables, according to Thomson Financial. Also shaking up the top of the race, Lehman Brothers was set to move into a virtual tie with JPMorgan for third place with an offering that had yet to price as of press time.

Following the completion of a $1.2 billion series 2001-HE3 home equity loan securitization for issuance vehicle ABSC, Credit Suisse had brought $31.915 billion of proceeds to the hands of investors, a mere $7.1 million (yes million) ahead of Salomon, which had sold $31.908 billion as of last Thursday. Salomon did not lead manage an offering last week.

In another tight race, Lehman was poised to print a $500 million home equity loan-backed deal for Bayview Financial, which would move the bank just $2.4 billion behind JPMorgan. Assuming the Bayview deal prices early this week, Lehman will have served as bookrunner for $27.593 billion of supply versus $27.595 billion for JPMorgan.

Securely in fifth place is Deutsche Banc Alex. Brown, with $20.420 billion sold, $3.027 billion ahead of Banc of America Securities with $20,420.8 placed.

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