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December 1, 2008

 Past Issues

Domestic Deals

JPMorgan Brings Michigan Electric Back to Market

Last week there was yet another sub-$100 million, utility-based first mortgage bond in the private market, as JPMorgan Securities marketed a placement for repeat-issuer Michigan Electric Transmission Co. The company's last deal hit the market in November 2003.

Basin Electric Jolts Private Market

North Dakota-based electric cooperative Basin Electric Power got $150 million worth of private funds last week via JPMorgan Securities. The deal is the first private placement to price at a size of over $100 million since September.

Features

Q&A: Ben Howe, CEO and Co-Founder of America's Growth Capital

Ben Howe, America's Growth Capital's chief executive and co-founder, has been in the investment banking world since the mid-1980s, during which time he has taken part in and completed more than 270 transactions. Last week, Howe sat down with PPL to talk about the private financing market, AGC's business, and how it has managed to grow amid turbulent times.

Buzz Box

Buzz Box

National Australia Bank's $30 million private placement for Australia-based mining company Iluka Resources Ltd. was still in the market as of press time last week. Price talk on the five- and seven-year deal was in the 675 basis points over Treasurys area. The deal is considered NAIC-2.