Conventional wisdom holds that investment banks in syndicated lending are out to win high-risk deals because of the juicy fees they promise. But a financing unveiled this week shows they're not shying away from investment-grade deals.

CS Holding's commercial banking unit, Credit Suisse, will lead the syndication of a $3 billion loan for J.C. Penney Co.'s acquisition of Eckerd Corp. - a deal on which the Zurich giant's investment banking subsidiary, CS First Boston, has been serving as adviser.

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