| - | Date | Issuer | Princ. Amt. ($ Mils) | Security Cpn. | Type | Offer Maturity | Price | BP Yield | Sprd. | M | S&P | F | Gross Sprd. Manager | Sell-Con. Fee % | Under Writing Fee % | Mgmt. Fee % | Fee % |
| - | 1/22/04 | American Express Credit | 250 | Floats | Mdm-Trm Fl Nts | 10/26/05 | 100 | Floats | - | Aa3 | A+ | A+ | DEUTSCHE-BK-SEC | 0.02 | - | Comb. | Comb. |
| - | 1/22/04 | American Express Credit | 100 | Floats | Mdm-Trm Fl Nts | 10/26/05 | 100 | Floats | - | Aa3 | A+ | A+ | JPM | 0.02 | - | Comb. | Comb. |
| * | 1/22/04 | American Honda Finance | 100 | 3.45 | Mdm-Trm Fl Nts | 1/28/09 | 100 | 3.45 | - | A1 | A+ | NR | JPM | 0.15 | - | Comb. | Comb. |
| - | 1/22/04 | Bank of America Corp | 175 | Floats | Mdm-Trm Fl Nts | 2/17/09 | 99.475 | Floats | - | Aa2 | A+ | AA | BA-SEC-LLC | na | - | - | - |
| - | 1/22/04 | Bank of America Corp | 1,000.00 | 3.375 | Senior Notes | 2/17/09 | 99.475 | 3.489 | - | Aa2 | A+ | AA | BA-SEC-LLC | 0.35 | 0.2 | Comb. | Comb. |
| - | 1/22/04 | Bank of New York Co Inc,NY | 50 | 1.735 | Bank Notes | 10/24/05 | 100 | 1.735 | - | Aa3 | A+ | NR | CS-FB-CS | na | - | - | - |
| * | 1/22/04 | Beta Finance | 100 | 1.32 | Medium-Term Nts | 2/9/05 | 100 | 1.32 | - | Aaa | AAA | NR | MERRILL | na | - | - | - |
| * | 1/22/04 | Casella Waste Systems Inc | 45 | 9.75 | Sr Sub Notes | 2/1/13 | 113.5 | 7.648 | - | B3 | B | NR | GS | na | - | - | - |
| * | 1/22/04 | Centauri Corp | 50 | Floats | Mdm-Trm Fl Nts | 2/2/06 | 100 | Floats | - | Aaa | AAA | NR | MERRILL | na | - | - | - |
| - | 1/22/04 | General Electric Capital Corp | 800 | 3.5 | Medium-Term Nts | 2/2/09 | 100 | 3.5 | - | Aaa | AAA | NR | CITIGROUP | na | - | - | - |
| - | 1/22/04 | General Electric Capital Corp | 500 | Floats | Mdm-Trm Fl Nts | 2/2/09 | 100 | Floats | - | Aaa | AAA | NR | CITIGROUP | na | - | - | - |
| - | 1/22/04 | Lehman Brothers Holdings Inc | 750 | Floats | Mdm-Trm Fl Nts | 2/22/09 | 100 | Floats | - | A1 | A | A+ | LEH | 0.25 | - | Comb. | Comb. |
| * | 1/22/04 | Links Finance Corporation | 250 | Floats | Mdm-Trm Fl Nts | 2/6/06 | 100 | Floats | -63 | Aaa | AAA | NR | GS | na | - | - | - |
| * | 1/22/04 | Links Finance Corporation | 100 | 1.34 | Medium-Term Nts | 2/22/05 | 100 | 1.34 | -63 | Aaa | AAA | NR | MERRILL | na | - | - | - |
| - | 1/22/04 | Merrill Lynch & Co Inc | 500 | Floats | Mdm-Trm Fl Nts | 1/26/07 | 100 | Floats | - | Aa3 | AA- | AA- | MERRILL | 0.25 | - | Comb. | Comb. |
| * | 1/22/04 | Nationwide Building Society | 400 | 2.625 | Medium-Term Nts | 1/29/07 | 99.817 | 2.689 | 60 | Aa3 | A+ | AA- | DEUTSCHE-BK-SEC-LEH | na | - | - | - |
| - | 1/22/04 | Procter & Gamble Co | 500 | 5.5 | Notes | 2/1/34 | 99.577 | 5.529 | 68 | Aa3 | AA- | AA- | ABN-AMRO-INC-DEUTSCHE-BK-SEC-GS | na | - | - | - |
| - | 1/22/04 | SLM Corp | 225 | Floats | Mdm-Trm Fl Nts | 1/31/14 | 100 | Floats | - | A2 | A | A+ | MERRILL | na | - | - | - |
| * | 1/22/04 | Sigma Finance Inc | 50 | Floats | Mdm-Trm Fl Nts | 1/27/06 | 100 | Floats | - | Aaa | AAA | AAA | MERRILL | na | - | - | - |
| * | 1/22/04 | Sigma Finance Inc | 100 | Floats | Mdm-Trm Fl Nts | 2/16/05 | 100 | Floats | - | Aaa | AAA | AAA | LEH | na | - | - | - |
| - | 1/23/04 | General Electric Capital Corp | 300 | 4.75 | Medium-Term Nts | 2/13/19 | 100 | 4.75 | - | Aaa | AAA | NR | CITIGROUP | na | - | - | - |
| * | 1/23/04 | Kingsway Financial Services | 100 | 7.5 | Notes | 2/1/14 | 98.328 | 7.743 | 370 | NR | BBB- | NR | KBW | na | - | - | - |
| - | 1/23/04 | SLM Corp | 35 | Floats | Mdm-Trm Fl Nts | 2/1/14 | 100 | Floats | - | A2 | A | A+ | CITIGROUP | na | - | - | - |
| * | 1/23/04 | Sigma Finance Inc | 130 | Floats | Mdm-Trm Fl Nts | 2/1/05 | 100 | Floats | - | Aaa | AAA | AAA | CITIGROUP | na | - | - | - |
| - | 1/23/04 | Textron Financial Canada | 45.7 | 3.47 | Medium-Term Nts | 1/29/07 | 99.98 | 3.477 | - | A3 | A- | A- | RBC-CAP-MKTS-BMO-NES-INC-SCOTIA-CAP-USA | 0.25 | - | Comb. | Comb. |
| * | 1/23/04 | United Rentals Inc | 1,000.00 | 6.5 | Senior Notes | 2/15/12 | 100 | 6.5 | - | B1 | BB- | NR | CS-FB-CS-BA-SEC-LLC-CITIGROUP-JPM | na | - | - | - |
| * | 1/23/04 | United Rentals Inc | 375 | 7 | Sr Sub Notes | 2/15/14 | 100 | 7 | - | B2 | B+ | NR | CS-FB-CS-BA-SEC-LLC-CITIGROUP-JPM | na | - | - | - |
| * | 1/26/04 | American Tower Corp | 225 | 7.5 | Senior Notes | 5/1/12 | 100 | 7.5 | 354 | Caa1 | CCC | NR | CS-FB-CS | na | - | - | - |
| - | 1/26/04 | Caterpillar Financial Services | 200 | 2.625 | Medium-Term Nts | 1/30/07 | 100 | 2.625 | 51 | A2 | A | A+ | BARCLAYS-CAP-MERRILL | na | - | - | - |
| * | 1/26/04 | Florida Power & Light Co(FPL) | 240 | 5.65 | Fst Mtg Bonds | 2/1/35 | 99.724 | 5.669 | 73 | Aa3 | A | NR | BA-SEC-LLC-JPM | na | - | - | - |
| * | 1/26/04 | Interface Inc | 135 | 9.5 | Sr Sub Notes | 2/1/14 | 100 | 9.5 | 537 | Caa3 | CCC | NR | CITIGROUP-WACHOVIA-SEC | na | - | - | - |
| - | 1/26/04 | Northwest Airlines Corp | 300 | 10 | Senior Notes | 2/1/09 | 96.227 | 10.999 | - | Caa1 | B- | B | MORGAN-STANLEY | na | - | - | - |
| - | 1/27/04 | American Express Centurion Bk | 53 | Floats | FR MT Bank Nts | 1/28/05 | 100 | Floats | - | Aa3 | A+ | A+ | JPM | na | - | - | - |
| * | 1/27/04 | Atlantic Broadband LLC | 150 | 9.375 | Sr Sub Notes | 2/15/14 | 100 | 9.375 | 527 | Caa1 | CCC+ | NR | MERRILL | na | - | - | - |
| * | 1/27/04 | Haights Cross Communications | 135 | Varies | Sr Discount Nts | 8/15/11 | 54.558 | Varies | 879 | Caa2 | B | NR | BEAR | na | - | - | - |
| * | 1/27/04 | ING Secured Inst Fund | 100 | 4.875 | Notes | 2/15/14 | 100 | 4.875 | 78 | Aa3 | AA | NR | JPM-BANKONE-CAPITAL | na | - | - | - |
| * | 1/27/04 | ING Secured Inst Fund | 200 | 2.7 | Notes | 2/15/07 | 99.863 | 2.747 | 62 | Aa3 | AA | NR | BEAR-JPM | na | - | - | - |
| - | 1/27/04 | Pfizer Inc | 700 | 2.5 | Notes | 3/15/07 | 99.896 | 2.535 | 40 | Aaa | AAA | NR | CS-FB-CS-JPM-MORGAN-STANLEY | na | - | - | - |
| - | 1/27/04 | Pfizer Inc | 750 | 4.5 | Notes | 2/15/14 | 99.798 | 4.525 | 42 | Aaa | AAA | NR | CS-FB-CS-CITIGROUP-MORGAN-STANLEY | na | - | - | - |
| * | 1/27/04 | Sigma Finance Inc | 60 | Floats | Mdm-Trm Fl Nts | 2/10/05 | 100 | Floats | - | Aaa | AAA | AAA | JPM | na | - | - | - |
| - | 1/27/04 | Wells Fargo Bank NA | 153 | Floats | Flt Rate Bk Nts | 2/1/05 | 100 | Floats | - | Aa1 | AA | AA | JPM | na | - | - | - |
| * | 1/28/04 | American Financial Group Inc | 100 | 7.25 | Senior Notes | 2/3/34 | 100 | 7.25 | 234 | Baa3 | BBB | BBB+ | MERRILL | na | - | - | - |
| * | 1/28/04 | Dex Media West | 361 | Varies | Sr Discount Nts | 11/15/13 | 69.384 | Varies | 421 | Caa2 | B | B | JPM | na | - | - | - |
| * | 1/28/04 | Freeport-McMoRan Copper & Gold | 350 | 6.875 | Notes | 2/15/14 | 100 | 6.875 | 284 | B2 | B- | NR | JPM | 2.69 | - | Comb. | Comb. |
| - | 1/28/04 | Lincoln National Corp | 200 | 4.75 | Notes | 2/15/14 | 99.297 | 4.84 | 80 | A3 | A- | A | JPM | na | - | - | - |
| - | 1/28/04 | SLM Corp | 150 | Floats | Mdm-Trm Fl Nts | 1/26/09 | 100 | Floats | - | A2 | A | A+ | JPM | na | - | - | - |
| * | 1/28/04 | Sigma Finance Inc | 250 | Floats | Mdm-Trm Fl Nts | 8/17/05 | 100 | Floats | - | Aaa | AAA | AAA | JPM | na | - | - | - |
| * | 1/28/04 | Town Sports International Inc | 213 | Varies | Sr Discount Nts | 2/1/14 | 58.595 | Varies | 696 | Caa2 | CCC+ | NR | DEUTSCHE-BK-SEC | na | - | - | - |
| - | |||||||||||||||||
| Source: Thomson Financial/Securities Data. For more information, call Rich Petersonat (973) 645-9701. | |||||||||||||||||
| BP SPRD. - basis point spread over Treasuries; FLT. SPRD. - basis point spread over floating index; Comb. - fee is combined; NR - not rated; Na - not available; *144A | |||||||||||||||||
| // Manager responsible for running the books; Contains offerings of $2 million or more and includes only the portion of global deals distributed in the U.S.; | |||||||||||||||||
| * More managers, but not listed; JB - joint books; Ý estimated price. |
Financing Record (JANUARY 22 -- JANUARY 23)
