Montreal-based diary products company Saputo Inc. issued a Canadian-dollar denominated private placement to three U.S. investors...
Mexico-based food processor and marketer Grupo Herdez is looking to tap the U.S. private placement market via JPMorgan Securities...
U.K.-based engineering company IMI plc got $175 million in funds last week in a private placement led by HSBC Securities and RBS Greenwich Capital...
Austria-based plastics company Borealis AG tapped the U.S. private market last week with a $91 million, dual-currency deal led by Mitsubishi UFJ Securities...
Banco Internacional del Peru, or Interbank, got $121.2 million in funds backed by diversified payment rights (DPR) earlier this month...
A survey conducted at this year's Private Placements Industry Forum shows that 'cautious optimism' is the prevailing sentiment among private market participants.
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.
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.
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.
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.