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October 27, 2008

 Past Issues

Domestic Deals

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.

Features

Utility Deals Provide Some Price Clarity, But Picture Still Not Good

Several utility deals in the public bond market over the past two weeks provided a better idea where bonds are pricing, however the added clarity has only confirmed the fact that the overall market is still unstable and spreads are still prohibitively wide for issuers.

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.

Buzz Box

Buzz Box

New York Life has made a new hire in its private placement team. The search for a new team member was concluded last week, with executive staffing firm Butterfass, Pepe & McCallan conducting the search.