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Westar Energy Subsidiary Issues FMB

Kansas Gas & Electric (KGE), a subsidiary of Wichita-based Westar Energy Inc., tapped the private placement market with a $300 million first mortgage bond deal this week...

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Articles

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.

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.

Citigroup Circulates First Mortgage Bond; BofA Working On Timber Deal

Deal flow continued to be sparse last week in the private placement market, however rumors were floating in the market about a first mortgage bond being led by Citigroup, and a timber deal from Banc of America Securities.

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