October 13, 2008 |
Past Issues |
Private market investors say they have money to put to work, but this week the traditional private market did not provide them a host of opportunities. In fact, for the second week in a row not a single new traditional private hit the market.
Even as the maelstrom engulfing Wall Street continues to chip away at the banking industry, the financial services industry is experiencing a large influx of capital.
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.
Deutsche Bank priced a somewhat low-key deal for Oiltanking Gmbh last week. Apparently the bank is not disclosing details of the transaction, and some sources were unaware that the transaction had priced at all. Other sources confirmed, however, that it had in fact priced. The global oil and chemicals storage company was seeking E70 million ($97.5 million) in a nine-, 12-, and 15-year deal launched early in September.