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Private Placement Market Gets A Lift

A series of personnel moves involving bankers who specialize in private placements translates to a vote of confidence in the asset class from investment banks.

Moelis Hires Private Placement Banker

As first reported by PPL sister publication Investment Dealers' Digest, Moelis & Co. has continued building out its capital markets group by hiring Stan Lai as a managing director. Lai was most recently head of private placements at Bank of America Merrill Lynch.

JPM & KeyBanc Get $400 Million for Great River

JPMorgan Securities and KeyBanc Capital Markets priced a $400 million first mortgage private placement for Minnesota-based electricity co-op Great River Energy this week...

Vermont Transco Taps Private Market for $135 Million

Repeat issuer Vermont Transco LLC got $135 million in private funds this week via Manor Private Capital...

Nicor Gas Back For $50 Million FMB via Wells

Repeat issuer Nicor Gas got $50 million in private funds in a deal that priced earlier this week via Wells Fargo...

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Articles

Buzz Box

For the record...energy company Avista Corp. tapped the private placement market for $30 million in a first mortgage bond via KeyBanc Capital Markets in late December.

Private Market Shows Signs of Vigor

With the New Year just one full week old, the private placement market is already showing signs of a solid start to 2009. On the back of a strong week in the public market-with a variety of large deals having priced-chatter about upcoming private placements abounded.

October/November Recap

The U.S. private placement market priced a mere $434 million between October and November, according to data tracked by Private Placement Letter. All six deals during the two months were at the $150 million level or below, and all were from domestic issuers.

Buzz Box

JPMorgan Securities wrapped up its $50 million first mortgage bond for Michigan Electric Transmission Co. (METC) last week, and BofA prices deal for MLB.

PIPE Down

In what could be the highest-profile insider trading case since Martha Stewart, Internet millionaire and NBA franchise owner Mark Cuban was charged with selling shares of Mamma.com Inc. after receiving non-public information about a proposed private investment in public equity (PIPE) investment.

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