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Leveraged Lease & CTL

Private Market Analysis Average 10-Year NAIC-2 Spread Widens More Than 200 bps Since August '07

November 17, 2008 - The average new issue spread to U.S. Treasurys for 10-year, NAIC-2 traditional private paper has drifted out more than 200 basis points since August 2007, according to data from Private Placement Letter.

Barclays Reshuffles PP Team in Wake of Lehman Buyout

October 27, 2008 - London-based Barclays Capital has rearranged its private placement team in the wake of last month's buyout of Lehman Brothers. If it is normally said that 'to the victor belong the spoils,' it is not necessarily so in this situation; Barclays has dismissed one of its group co-heads and placed a Lehman staffer at the head of the group and in other key positions.

September Recap: Private Market Prices Healthy Spate Of Deals

October 13, 2008 - The U.S. private placement market priced a healthy $2.34 billion in September, representing a year-over-year increase of more than 20%. The month's nine deals were spread across a diverse mix of industries and five were from domestic issuers, with the rest coming from Australia, Canada, and the U.K.

Private Market Plays All-Too-Familiar 'Waiting Game'

October 6, 2008 - It was another quiet week in the U.S. private placement market, as price uncertainty kept issuer's on the sidelines. As of Thursday afternoon, not a single deal had priced, and not a single new one had launched.

Buzz Box

October 6, 2008 - Banc of America Securities and Barclays Capital priced an upsized deal for U.K.-based Compass Group plc on Sept. 25. The deal finished at $332 million in size, up from $200 million at launch, and priced in five-, and seven-year tranches, both at 350 basis points over Treasurys. There was also an eight-year sterling component to the deal. Twelve investors participated in the transaction.

Buzz Box

September 29, 2008 - Banc of America Securities priced a $175 million deal for El Paso Pipeline last week. The NAIC-3 deal priced in three-, four-, and five-year maturities at coupons of 7.76%, 7.93%, and 8.0%, respectively.

Burlington Northern Seeks $300M

September 19, 2008 - Burlington Northern Santa Fe Railway Co. (BNSF) is back in the private market seeking $300 million in a leveraged-lease transaction. The company last sought funds in the private market one year ago, in September 2007.

Buzz Box

July 21, 2008 - Nomura Securities International has named Surat Maheshwari head of private placement and US debt capital markets.

Conrad Owen To Head Up Mitsubishi UFJ Private Cap Markets Group

July 7, 2008 - Mitsubishi UFJ Securities (USA) Inc. said Tuesday that it hired Conrad Owen to run its new Private Capital Markets group, a move that is designed to expand into an area of finance that is expected to see heightened activity amid tightening credit market conditions.

Needham Names Bennett to Lead Private Placement Group

July 7, 2008 - Peter Bennett, formerly head of private placements at Deutsche Bank, Piper Jaffray and Lazard Middle Market, has been tapped to lead the private placement group at Needham & Co.

Union Pacific Taps Market With Leveraged Lease Deal

November 25, 2007 - Frequent issuer Union Pacific Railroad Co. tapped the market with a $145 million leveraged lease transaction last week, sources said. The 8.5-year final,...

BNSF Bounces Back With Another Lev. Lease

October 14, 2007 - Railroad company BNSF Railway Co. chugged right back into the private placement market last week with its second leveraged lease deal in one month, this...

More Markets Accessing CTLs

August 6, 2006 - The publishers behind the Denver Post and the Rocky Mountain News locked up a credit tenant lease-backed offering in the private placement market last...

Walgreens Prices $3M CTL Transaction

June 11, 2006 - Retail pharmacist chain Walgreens priced a $3 million credit tenant lease deal via agent Keybank last week, sources said. The agent placed the transaction...

Retail Goliath Wal-Mart Walks Away with $6M CTL

April 23, 2006 - The world's number one retailer Wal-Mart Stores, Inc. priced a $6 million credit tenant lease transaction last week via agent Bostonia, sources said. The...