With its first-ever offering of subordinated home equity loan-backed paper last week (see ASR 5/28/01), Centex Corp. achieved the two objectives it set out to accomplish: achieve the best possible execution and expand the investor base familiar with the Centex name.

According to Jeff Upperman, managing director of structured finance for the Dallas-based homebuilder, Centex accomplished both, pricing up to 10 basis points tight to initial price guidance disseminated for the subordinated classes.

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