Enough is enough for Industrial Alliance Insurance and Financial Services, at least when it comes to public debt holdings. The Canadian insurance company's experience as a BCE bondholder has convinced its chief executive and president, Yvon Charest, to stick with debt private place-ments instead.
Secondary private transaction volume for unregistered securities in US private companies increased by about 140% in 2007, to $3 billion, according to a research report from NYPPEX Private Markets.
Equitable Group, a Toronto-based mortgage lender, is planning to raise $39 million (C$39.6 million) from a private placement and secondary offering of common stock.
Leap Wireless International, awirelessservices provider, said its Cricket Communicationssubsidiary exchanged its outstanding unregistered 9.375% unsecured senior notes due 2014, which were originally issued on June 6, 2007 in a private placementfora new issue of 9.375% unsecured senior notes due 2014.
Houston-based Targa Resources Partners and its Targa Resources Partners Corp. unit plan to sell $250 million worth of unsecured notes due in 2016.