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Leveraged Lease & CTL

News

Mesirow Hires Veteran, Starts CTL Group

Mesirow Financial hires old hand at CTL to enhance its fixed income capabilities…

Pricing Update: Union Pacific

JPMorgan Securities priced its $95 million capital lease deal for Union Pacific Railroad Co. this week...

Pricing Update: Union Pacific

JPMorgan Securities priced its $95 million capital lease deal for Union Pacific Railroad Co. this week...

Union Pacific Back For $95 Million Lease-Backed Deal

Repeat private placement issuer Union Pacific Railroad Co. is back in the market for $95 million in lease backed notes...

Repeat Issuer BNSF Chugs Into Private Market

Burlington Northern Santa Fe Corp. tapped the private market this week with an offering of lease backed notes. The deal is BNSF’s fifth entry into the U.S. private market since Jan. 2005...

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Articles

Private Market Analysis: Average 10-Year NAIC-2 Spread Widens More Than 200 bps Since August '07

The average new issue spread to U.S. Treasurys for 10-year, NAIC-2 traditional private paper has drifted out more than 200 basis points since August 2007, according to data from Private Placement Letter.

Barclays Reshuffles PP Team in Wake of Lehman Buyout

London-based Barclays Capital has rearranged its private placement team in the wake of last month's buyout of Lehman Brothers. If it is normally said that 'to the victor belong the spoils,' it is not necessarily so in this situation; Barclays has dismissed one of its group co-heads and placed a Lehman staffer at the head of the group and in other key positions.

September Recap: Private Market Prices Healthy Spate Of Deals

The U.S. private placement market priced a healthy $2.34 billion in September, representing a year-over-year increase of more than 20%. The month's nine deals were spread across a diverse mix of industries and five were from domestic issuers, with the rest coming from Australia, Canada, and the U.K.

Private Market Plays All-Too-Familiar 'Waiting Game'

It was another quiet week in the U.S. private placement market, as price uncertainty kept issuer's on the sidelines. As of Thursday afternoon, not a single deal had priced, and not a single new one had launched.

Buzz Box

Banc of America Securities and Barclays Capital priced an upsized deal for U.K.-based Compass Group plc on Sept. 25. The deal finished at $332 million in size, up from $200 million at launch, and priced in five-, and seven-year tranches, both at 350 basis points over Treasurys. There was also an eight-year sterling component to the deal. Twelve investors participated in the transaction.

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