DaimlerChrysler North America Holding Corporation's $4.5 billion inaugural global bond offering, for which CSFB acted as joint lead manager and joint bookrunner, represented the largest lead-managed corporate bond deal in CSFB's storied history, and the second largest in the marketplace overall.

Quality of execution was critically important as DaimlerChrysler, one of the world's premier borrowers, set its initial debt benchmarks. The task was complicated by the volatile market conditions caused by expectations of higher interest rates triggered by the Federal Reserve. CSFB overcame these challenges with a highly successful transaction, which allowed DaimlerChrysler to increase the size from $3 billion to $4.5 billion while simultaneously improving pricing throughout the road show and offering period. CSFB helped to generate $9.0 billion in total demand and an orderly aftermarket performance.

Recognized as Debt Deal of the Year by Euromoney, the offering set another milestone as CSFB became the first lead manager to recognize the growing relevance of non-Treasury benchmarks in this era of US Government budget surpluses. We offered price guidance to investors as a spread to another corporate bond. This innovation reduced risk for DaimlerChrysler by eliminating the basis volatility between Treasuries and corporates and between the when-issued and current Treasury securities.