Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only PrivatePlacementLetter.com can deliver.
  • PrivatePlacementLetter.com one-month trial subscription
  • Free e-newsletters
  • Free whitepapers

November 3, 2008

 Past Issues

News

2008 Investors Survey Preview: MetLife, Prudential Stay on Top In Challenging Year

The results of the 2008 Investors Survey are in, and once again MetLife and Prudential Financial led the field by far. Both firms even managed to substantially increase their investments in private placements, in a year when the total amount of private placement issuance dropped off by more than 30% between the first and second halves of the year.

Citigroup Prices FMB for Peoples Gas

Citigroup kept the market alive last week by pricing a $57 million first mortgage bond for Chicago-based Peoples Gas, a subsidiary of Intergrys Energy Group Inc., sources said. It was the only transaction to price in the private placement market last week, as the near-total issuance drought wears on.

Is 2008 a Wash-Out?

With just over eight weeks left in the year, many private placement investors and agents are giving up hope that deal flow will pick up in 2008. The already-slow pace of issuance this fall, combined with the effects of the U.S. Presidential election and the annual holiday slowdown, likely means there will not be any significant amount of issuance until after the New Year, they say.

Buzz Box

Buzz Box

Gail McDermott has joined New York Life Investment Management from SG Americas (Societe Generale), where she was a managing director and head of bank loan syndication based in New York. McDermott is expected to start at N.Y. Life in mid-November as head of the firm's private placement group.