Buzz Box
February 6, 2009
Gwen Foster, formerly with Prudential Financial, has joined the private placement team at Guardian Life last week as a senior director. Foster will report to Tom Donohue, head of fixed income securities at Guardian.
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Banc of America Securities and RBS Greenwich Capital are still in the market with a private placement for U.K.-based food company Associated British Foods plc last week as PPL went to press. The deal launched at $200 million in size and was being viewed as an NAIC-1.
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BofA was also continuing to shop its deal for liquefied natural gas company Southern LNG as of Thursday. The $200 million deal was slated for three-, five-, and seven-year maturities, and is viewed as an NAIC-2. Southern LNG’s parent company, $6 billion market cap El Paso Corp., tapped the public bond market last week with $500 million of seven-year 8.25% coupon senior notes. The ‘Ba3/BB-’ rated deal was led by Morgan Stanley and priced at 664 basis points over Treasurys.
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Avondale Partners has promoted its co-head of private placements, Karsten Lampka, to the position of senior manager and co-head of investment banking. Lampka will split his new role with Phil Krebs, a senior managing director with the firm, and will also continue to focus on Avondale’s private placement business.
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