Why Write a Business Plan?
Writing a business plan is important for any start-up or expanding company in two respects. First, business plans serve to define and legitimize the business and its prospects in the eyes of others. Secondly, a business plan serves an important purpose within the business, acting as a guide and [...]
Why Write a Business Plan?
The Private Placement Process - Step by Step Overview
The Private Placement Process - Step by Step Overview
Private Placement Introduction
The term “private placement” as used in this text refers to the offer and sale of any security by a brokerage firm not involving a public offering, hence it’s a ‘private offering’. Private placement offerings are not the subject of a registration statement filed with [...]
Private Placement Memorandum
Private Placement Memorandum
Why Write a Private Placement Memorandum?
This question about write a private placement memorandum is often asked by seasoned and non-seasoned entrepreneurs. What is it about a private placement memorandum - also called an offering memorandum, or “OM” for short, or often referred to as “PPM” for short as well - that drives a [...]
Private Placement Memorandum PPM
Private Placement Memorandum PPM
Private Placement Memorandum PPM: what is the view today?
The private placement market, of which a private placement memorandum or PPM is used to raise capital, is growing stronger since the recession hit. There has been recommended revisions to the private placement market, namely to the Regulation D and 144A spheres, where the [...]
144A
144A
Spain is about to offer $2 billion 5 year 144A Reg S note. The 144A aspect of the offerign will be offered to US investors, mainly QIBs, while the Reg S portion of the note will be offered to non-US investors, as Reg S is offshore, meaning outside the US.
The last time Spain issued major [...]
Lithuania Private Placement
Lithuania Private Placement
Lithuania Sells $234 Million of Debt in Private Placement
Lithuania sold 600 million litai ($234 million) in a private placement, increasing the Baltic nation’s proceeds from debt sales at home and abroad this week to about $800 million.
The government placed the litai-denominated bonds this week, Vytautas Lenkutis, a spokesman at the Finance Ministry in [...]
PPM
PPM
Many ask why a private placement memorandum is referred to as a ‘ppm’, or simply PPM. The issue that has arisen is that a PPM, though the context for raising capital not withstanding, can get confusing. That is because a ppm has many meanings for many different industries. A PPM can refer to paper and [...]
French Private Placement and PPM
French Private Placement and PPM
French firms tap private US lenders as banks run dry
* U.S. private placements by French firms 3.1 bln euros
* Rise in issuance a sign of banks’ lending retreat
* French private debt market still in infancy
* Advantages include lengthy terms, lower rates
PARIS, (Reuters) - Listed on the French stock market based in [...]
Ukraine’s 144A and Reg S Bond Offering
Ukraine’s 144A and Reg S Bond Offering
LONDON, Sept 19 (IFR) - Ukraine (B2/B+/B) has mandated JP Morgan, Morgan Stanley, Sberbank CIB and VTB Capital for a USD-denominated 144a/Reg S offering. A transaction may follow as early as today, subject to market conditions.
Ukraine raised USD1bn through a private placement of a two-year bind via VTB [...]
Asia debt fees overtake equity as banking model flips
Asia debt fees overtake equity as banking model flips
(Reuters) - Investment banks in Asia are making more money from debt deals than underwriting stock offerings for the first time, a milestone in how evolving regional markets are challenging a business model that has relied upon high-paying equity deals.
While the bond business is booming and increasing [...]
PTTEP’s 144A and Reg S
PTTEP’s 144A and Reg S
PTT Exploration & Production PCL’s (PTTEP.TH) new dollar bond–the first 30-year offering out of Thailand in almost seven years–was slightly stronger Friday after pricing at the tight end of final guidance, in an illustration of investor demand for higher-yielding long-dated debt.
The Thai state-owned oil and gas [...]
144A Bonds May Enter Public Market
144A Bonds May Enter Public Market
Covered Bonds Could Hit U.S. Public Market After RBC Filing
NEW YORK (Dow Jones)–The prospect of covered bonds being traded in the public market just got a huge shot in the arm after the Royal Bank of Canada (RY, RY.T) filed a registration statement to issue $12 billion [...]
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