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News

Southern LNG Seeks Private Funds

January 30, 2009 - Liquefied natural gas company Southern LNG was in the market last week seeking private funds via Banc of America Securities.

Survey Shows Cautious Optimism Reigns

January 30, 2009 - A survey conducted at this year's Private Placements Industry Forum shows that 'cautious optimism' is the prevailing sentiment among private market participants.

Duquense Light Seeks FMB via JPM

January 30, 2009 - Western Pennsylvania-based electric utility Duquesne Light is looking to tap the market with a first mortgage bond deal via JPMorgan Securities.

BofA/RBS Shop Associated British Foods

January 30, 2009 - 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.

Buzz Box

January 30, 2009 - Citigroup, Deutsche Bank and JPMorgan Securities are in the market with a deal for Ultra Petroleum. The deal was on the road last week and is expected to price-up this week.

Europe Offers Opportunity, But Challenges Exist: Panel

January 23, 2009 - 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

January 23, 2009 - 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

January 23, 2009 - 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

January 23, 2009 - 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

January 19, 2009 - 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

January 19, 2009 - 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

January 19, 2009 - 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

January 12, 2009 - 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.

Private Market Shows Signs of Vigor

January 12, 2009 - With the New Year just one full week old, the private placement market is already showing signs of a solid start to 2009. On the back of a strong week in the public market-with a variety of large deals having priced-chatter about upcoming private placements abounded.

Buzz Box

January 12, 2009 - For the record...energy company Avista Corp. tapped the private placement market for $30 million in a first mortgage bond via KeyBanc Capital Markets in late December.