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November 10, 2008

 Past Issues

News

Allete Returns to Market via BofA

Repeat issuer Allete Inc. tapped the private market last week via Banc of America Securities. The deal marks Allete's fourth foray into the U.S. private placement market in three years.

Features

2008 Investors Survey: Top Shops Increase Investments in Challenging Year

By all accounts, 2007 opened strongly and issuance was cruising along much as it had for the past three years in the private market. There was high deal flow and high demand. New issue spreads were ratcheting tighter and tighter, so tight that relative value versus publics was becoming a major concern, and covenants continued to be scarce and difficult to obtain.

Buzz Box

Buzz Box

Banc of America Securities is rumored to be shopping a deal for the National Basketball Association. The NBA was reported to be seeking funds as recently as mid-September, however, the deal was not finalized, and sources said it is being brought back.