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January 26, 2009

 Past Issues

International Deals

Europe Offers Opportunity, But Challenges Exist: Panel

Market experts at this year's Private Placements Industry Forum offered a mixed view on the near-term future of European issuance. Though Europe has been a major source of private placement deal flow in recent years--making up as much as 30% of deal volume--some said a worsening economy and alternative sources of funding could combine to keep European issuers less likely to cross the pond this year.

NAB, BofA Tout Full Australian Pipelines

Prospects look good from down under. Both National Australia Bank and Banc of America Securities have their plates full with upcoming deals from Australia, said representatives of those banks at last week's Private Placements Industry Forum in Boca Raton, Fla.

News

Buysiders Start Year on Cautious Note

Private placement investors sounded a conservative tone last week at the Private Placements Industry Forum in Boca Raton, Fla., saying they are mostly interested in NAIC-1 deals from non-cyclical industries, with a bias toward deals from the U.S. and familiar regions like the U.K. and Western Europe. Though caution was indeed the watchword among buysiders, most said they would look selectively at deals further down the credit ladder and farther from home.

Buzz Box

Buzz Box

Barclays Capital and JPMorgan Securities' deal for U.K.-based QinetiQ Group plc priced up at $300 million in size and with seven- and 10-year tranches both at 535 basis points over Treasurys.