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International Deals

Survey Shows Cautious Optimism Reigns

- A survey conducted at this year's Private Placements Industry Forum shows that 'cautious optimism' is the prevailing sentiment among private market participants.

BofA/RBS Shop Associated British Foods

- Banc of America Securities and RBS Greenwich Capital were in the market last week with a private placement for global foods company Associated British Foods plc, sources said. The transaction is the first food-related private placement to hit the U.S. market since September, and marks RBS's first confirmed launch of 2009.

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.

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.

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.

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.

Private Market Again Alive With Deal Talk, If Not Deals

- The private placement market was again abuzz last week with a new round of whispers about potential deals, though most are not expected to launch or price until after the Private Placements Industry Forum later this week.

2009 Conference Preview: Event Takes on Heightened Meaning In Troubled Market

- The annual Private Placements Industry Forum, hosted by the Institute for International Research, is almost like the official New Year's celebration for the private placement market. This year, with private placement issuance down to a trickle and the overall markets still uncertain, the conference takes on an even greater importance, say many sources.

Buzz Box

- Barclays Capital and JPMorgan Securities were on the verge of pricing their deal for U.K.-based defense technology company QinetiQ Group as PPL went to press last week.

Barclays/JPMorgan Open Private Market With QinetiQ

- Barclays Capital and JPMorgan Securities were in the market last week with a private placement for U.K.-based defense and security technology company QinetiQ Group plc, sources confirmed.

The 10 Biggest Private Placements of 2008

- Last year turned out to be another tumultuous one for the private placement market, starting out with a solid first half but slowing to a crawl for the entire fourth quarter. The year was not without its highlights, however, including a month of May that saw nearly $5 billion priced, as well as the following top 10 biggest private placements of 2008...

Looking Ahead ... 2009 Expected to Start Slowly as Same Concerns Linger

- The start of a new year often comes as a breath of fresh air for the private placement market, with a spate of new deals putting an end to the traditional holiday slowdown. This year, however, as the private market is coming off one of its slowest quarters in history, few expect that to happen.

Buzz Box

- National Australia Bank has postponed its deal for Australia-based mining company Iluka Resources.

TD Securities Prices C$600 Million Pension Fund Deal

- In a market where deals seem to be few and small, TD Securities last week priced a hefty C$600 million ($491.7 million) private placement for Canada's Public Sector Pension Investment Board.

Buzz Box

- Terry Martin has left JPMorgan Securities where he was a managing director and head of the firm's private placement group.

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