Fees Edge Down In High Yield

Sargent, Carolyn
January 2005
Investment Dealers' Digest;1/17/2005, Vol. 71 Issue 2, p12
Trade Publication
The article focuses on the performance of the securities industry in the United States in 2004. The preponderance of financial sponsors in last year's market to finance buyouts may have also reduced spreads. According to Thomson Financial, in 2004, the average disclosed high-yield underwriting spread fell 9 basis points to 1.887 percent. The well-publicized battle between Credit Suisse First Boston Corp. and Citigroup Inc. to top the high-yield league table likely led to selective price-cutting to win business.


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