Antipodes Help US Private Placement Market To Record

Australia and New Zealand aren’t just boosting the global games of rugby and cricket. The two nations have helped the U.S. private placement market reach a record year of issuance.

According to J.P. Morgan, both countries account for 16% of supply in 2011 to date where volumes of US$46.5 billion have surpassed the 2003 record of US$45.7 billion. Last year, Australia and New Zealand were responsible for 10% of the US$41.6 billion market.

Notable transactions in 2011 include biopharma CSL’s US$750 million private placement across 7, 10, 12 and 15 year maturities, Melbourne Airport’s US$600 million transaction across 10, 12 and 15 year tenors and gas distributor Envestra’s dual currency offering of US$240 million and A$115 million tranches spanning four maturities between 10 years and 30 years.

In September, Metcash completed its first funding deal outside of Australia by placing US$225 million at 7, 8 and 12 year tenors while New Zealand’s national power grid owner-operator Transpower placed US$380 million of senior unsecured notes at 10, 12 and 15 year maturites to 15 U.S.-based institutions.

And the outlook for 2012? J.P. Morgan reckons issuers have lined up transactions to be launched at the onset of the new year, which are expected to be well received by investors who have refreshed budget allocations.

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November 2011 Overview Demands for domestic corporate CUSIPs rebounded in November to their second highest monthly volume of 2011 as 1,923 identifiers were sought. A chief factor in this turnaround was the fact that domestic corporate equity CUSIP requests reached a 2011 high of 1,100 last month. This surpasses this year’s monthly high for domestic corporate equity CUSIP demands of 914 set in September according to the data from CUSIP Global Services. As for domestic corporate debt CUSIP equests, November saw a modest recovery following the prior month’s decline as 823 identifiers were sought. Requests for municipal securities CUSIPs climbed up to a 2011 monthly high of 1,449 in November. While that result marks the best monthly volume since November 2010, when 1,691 identifiers were requested, year‐to‐date volume for municipal identifier is off more than ‐23% the prior year‐to‐date results. Municipal long‐term note CUSIP demands retreated in November, pulling year‐to‐date volume ‐50% below the prior year’s level though short‐term note volume, despite last onth’s decline, remained fractionally ahead of the prior year’s level.

CUSIP demand for international equity securities posted a rebound last month as 315 identifiers were sought compared to 211 in October. Yet, despite that improvement, year‐to‐date volume for identifiers for this asset class is more than ‐6% lower than a year ago. On the other hand, while international debt CUSIP requests climbed by nearly one‐third last month from October’s results, CUSIP demands for this asset class has failed to top the century mark for five consecutive months. Still, despite those results, year‐to‐date CUSIP volume for nternational debt securities is 5.7% higher than the prior year’s period. As 2011 heads for closure we anticipate that the recent upswing in identifier requests for various security classes signals a likely ositive prospect for underwriting and related capital markets activities. Please continue to find the latest information and analysis on CUSIP activity throughout 2011 at www.cusip.com .

About CUSIP Trends
CUSIP Trends Global Issuance Report is a monthly compilation of new securities issuance trends and insights compiled by CUSIP Global Services (CGS), the world leader in financial instrument identification. Each report provides an analysis of securities issuance activity on a sector- by-sector, asset class-by-asset class and regional basis, offering an early indicator of nascent market trends and burgeoning hot spots of new capital creation.

Data for the report comes from the CGS database, which contains issuer, issue and entity identifiers, standardized descriptions and related data for more than 9.1 million securities, IPOs, preferred stock, funds, CDs and competitive/negotiated deals.

CGS is managed on behalf of the American Bankers Association by Standard & Poor’s. For more information, visit www.cusip.com

After posting the sharpest monthly percentage drop since January 2010, requests for domestic corporate CUSIPs rebounded last month with a 16.9% increase to 1,923. This represents the second highest monthly count for the year for domestic corporate CUSIP demand. However, a 12.3% decline in CUSIPs by CDs with more than a year maturities has reduced industry totals.

Corporate CUSIPs/ Processed and Billed Requests
Nov 11 Oct 11 2011 ytd 2010 ytd year-over-year
Domestics 1,923 1,645 18,876 17,703 6.6%
CDs < 1yr Maturity 335 355 3,448 3,445 0.0%
CDs > 1r Maturity 569 570 7,272 8,292 -12.3%
Other 888 929 10,991 10,588 3.8%
Industry Total 3,715 3,499 40,587 40,028 1.4%

Muni CUSIP requests saw their 2011 monthly high point in November as 1,449 identifiers were sought. That’s a 15.5% jump from October’s count of 1,255 and the biggest monthly percentage increase since this past May. Yet, despite the recent results, yeartodate muni volume is off over 23%.

Municipal CUSIPs/ Processed and Billed Requests
Nov 11 Oct 11 2011 ytd 2010 ytd year-over-year
Municipals 1,449 1,255 12,056 14,851 -23.2%
Long Term Note 18 27 363 726 - 50.0%
Short Term Note 109 164 1,547 1,537 0.7%
Other 26 25 371 404 - 8.2%
Industry Total 1,602 1471 14,337 17,518 - 18.2%

International equity CUSIP volume delivered a 49.3% increase in November following 2011’s monthly lowpoint of 211 set in October. Nonetheless, despite the rebound which was the first monthly gain since August, CUSIP demand for this asset class is off by over 6% this year.

Int’l & Private Placement Notes CUSIPs/ Processed and Billed Requests
Nov 11 Oct 11 2011 ytd 2010 ytd year-over-year
Int’l Equity 315 211 3,239 3,459 - 6.4%
Int’l Debt 99 75 1,362 1,289 5.7%
PPN 206 280 2,284 1,998 14.3%
Industry Total 620 566 6,885 6,746 2.1%

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IFR-Qatar flexes its muscles with US$5 bln bond deal

LONDON, Dec 5 (IFR) - The wow factor from the State of Qatar’s US$5bn Triple Tranche 144a/Reg S bond issue last Tuesday may not have been as strong as it was the last time the state issued in the international markets, but the deal still showed that the gas-rich country is one of the most highly sought after sovereigns.

“After a fairly quiet period for MENA issuance Qatar was exactly the right name to come to market in size,” said Andrew Dell, head of debt capital markets, CEEMEA at HSBC. “Yet again they have executed the biggest deal of the year and set the benchmark for the region. What a contrast to the travails of Europe.”

HSBC led the deal alongside Citigroup, JP Morgan, Mitsubishi UFJ, QNB Capital and Standard Chartered.

The transaction was not without its detractors, however, with some bankers away from the deal arguing that Qatar (Aa2/AA) gave up more than it might have done in terms of pricing. In truth, though, any EM transaction that raises the amount that Qatar did in such volatile markets has to be deemed a big success.

The sovereign priced US$2bn of 3.125% January 2017 notes at US Treasuries plus 225bp, US$2bn of 4.5% January 2022 bonds at plus 262.5bp, and US$1bn of January 2042 paper at plus 287.5bp. The book was US$9.5bn with 450 orders.

All three tranches tightened in secondary market trading. As of Thursday morning the 2017 bonds had tightened to 219bp over Treasuries, the 2022 was trading at 243bp over, and the 2042s had come in to plus 256bp.

Much of the focus was on the new issue premiums, estimated to be 30bp for the new 10-year and 35bp-40bp for the five-year tranche — a reflection of the state of the market, according to a banker close to the deal.

UNNECESSARY RISK?

But one banker away from the deal said the pricing and size of the deal could have been better if the lead managers had decided to do shorter marketing or even no roadshow. The banker argued that Qatar was exposed to unnecessary market risk as a result of going on the road.

“For a Double A rated sovereign to go for such an extensive market window was strange,” he said.

Another banker agreed that a roadshow seemed unnecessary. “Qatar has intra-day access. Announce the deal one day, then price the next and maybe do a few calls,” he said.

Instead, the bankers argued, Qatar ended up paying more, especially compared with Abu Dhabi’s outstanding bonds. Traditionally, they said, Qatar tends to trade flat to or slightly inside Abu Dhabi (Aa2/AA/AA) because of the former’s rarity value in the market. Abu Dhabi’s state-owned entities give investors more regular exposure to its debt.

So on November 8, for example, the day before IFR broke the story of the Qatar deal, its outstanding 2020 bonds were trading at mid-swaps plus 178bp compared with mid-swaps plus 181bp for Abu Dhabi’s 2019s.

By November 21, two days before the mandate’s official announcement, Qatar’s 2020s had gone out to mid-swaps plus 192bp compared with Abu Dhabi’s 2019s at mid-swaps plus 180bp. By November 28, the day before pricing, the 2020s had widened out further to 208bp over mid-swaps, compared with the 2019s at 172bp over.

“In reality, Qatar paid more for this deal than the leads would claim,” said one of the bankers. “If they did a quick-to-market trade they could have announced new issue levels relative to a Qatar that traded flat to inside Abu Dhabi. Therefore they could have achieved a lower absolute spread through a decent new issue premium but from a lower starting point and potentially for more size.”

Those close to the deal, however, said the criticisms were unfair. One banker argued that as Qatar had not been in the international markets since November 2009, when it raised a record US$7bn, investors were keen to meet the sovereign’s officials. They added that in reality the roadshow, held in London and New York, was only two days — it seemed longer because of a break for the Thanksgiving holiday in the US — and was important for gauging investor feedback.

“The most important thing was to do intra-day execution, and given the size, we needed everything lined up at the moment of announcement. I don’t think we could have been confident of doing that with so many moving pieces without having done extensive marketing,” said one banker involved in the deal.

As for the comparison with Abu Dhabi, another banker on the deal argued that it was unfair. “Abu Dhabi hasn’t issued since 2009. You can’t benchmark against their outstanding bonds,” he said.

Dell added that the transaction was priced at the lowest ever yields across Qatar’s curve. “That’s a success on any day and truly awesome against the global economic and market backdrop,” he said. (For more details on the transaction see “Qatar: Sovereign raises US$5bn”.)

About PPM.net

PPM.net is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM.net have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM.net’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM.net can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs - as well as to regional and global demands - helps our clients save needed capital and time.

We are leaders in:

• 144A Private Placement
• Real Estate Private Placement
• Power Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Power Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing

• Real Estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing

• Equity Private Placement Memorandum Writing

CUSIP & ISIN Number Update - Novemeber

November 2011 CUSIP Issuance Trends Update

Following the strongest month for domestic corporate securities CUSIP requests since May 2008, identifier demand for domestic corporate debt and equity securities in October dropped by more than ‐17%, representing the sharpest monthly decline since January 2010. Municipal securities CUSIP volume remained unchanged in October from the previous month as 1,255 requests were completed.CUSIP requests among international securities delivered mixed results last month. International equity CUSIP orders totaled just 211 last month marking a ‐17.3% fall from September’s count of 255 CUSIPs and the lowest count since May 2009 when 168 CUSIPs were sought. Alternatively, international debt CUSIPs demand moved higher in October marking the first back‐to‐back monthly gains since the September‐October 2009 period.

Municipal securities CUSIP volume remained unchanged in October from the previous month as 1,255 requests were completed. The result also matched the second strongest month of 2011 in terms of identifiers sought according to data from CUSIP Global Services. Despite this occurrence, municipal CUSIP volume is off by more than ‐19% from the same period a year ago. However, both long term and short term municipal note CUSIP orders saw easing last month from September’s results.

CUSIP requests among international securities delivered mixed results last month. International equity CUSIP orders totaled just 211 last month marking a ‐17.3% fall from September’s count of 255 CUSIPs and the lowest count since May 2009 when 168 CUSIPs were sought. Alternatively, international debt CUSIPs demand moved higher in October marking the first back‐to‐back monthly gains since the September‐October 2009 period. Meanwhile, private placement note CUSIP requests jumped to 280 last month, the highest monthly request this year, propelling year to date volume to more than 15% ahead of he same period’s count a year ago.

“We’re seeing the fever pitch of new corporate debt issuance start to slow as we get to the end of the year,” said Richard Peterson, Director, S&P Capital IQ “While requests for new CUSIP identifiers are still showing strong volume in domestic and international corporate debt, the pace has slowed on a month-to-month basis as uncertainty about the US and European economies continues to weigh on issuers.”

Monthly CUSIP orders for domestic corporate securities experienced their sharpest percentage drop on sequential in more than a year as 1,645 identifier requests were processed last month, a 17.3% decline from September’s count of 1,988. Still, despite the recent drop, year to date CUSIP volume for domestic corporate debt and equity issues is up more than 10%.

Monthly municipal CUSIP requests were flat in October, ending a short two month stretch of increased identifier orders. Long term municipal note CUSIP requests dropped last month dragging year to date volume to nearly half the count from the same period a year ago.

International equity CUSIP volume declined in October to 211, the lowest monthly count for the year and slowest pace of requests since May 2009 when 168 identifiers were sought. On the other hand, international debt CUSIP requests moved higher for the second straight month.

About CUSIP Trends
CUSIP Trends Global Issuance Report is a monthly compilation of new securities issuance trends and insights compiled by CUSIP Global Services (CGS), the world leader in financial instrument identification. Each report provides an analysis of securities issuance activity on a sector- by-sector, asset class-by-asset class and regional basis, offering an early indicator of nascent market trends and burgeoning hot spots of new capital creation.

Data for the report comes from the CGS database, which contains issuer, issue and entity identifiers, standardized descriptions and related data for more than 9.1 million securities, IPOs, preferred stock, funds, CDs and competitive/negotiated deals.

CGS is managed on behalf of the American Bankers Association by Standard & Poor’s. For more information, visit www.cusip.com.

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Newcrest to issue $1,000 million in bonds ($1 billion)

Newcrest Mining is raising US$1,000 million after a successful issue of corporate bonds.

It debuted the offer in the United States Rule 144A and Regulation S bond markets.

Its offering consists of US$750 million senior unsecured notes due 15 November 2021, with a coupon of 4.450% and US$250 million senior unsecured notes due 15 November 2041, with a coupon of 5.750%.

According to Newcrest the funds will be used to pay existing unsecured debts, as well as for the miner’s major growth projects.

Newcrest’s CEO said the company is “pleased to have successfully priced our first Rule 144A corporate bond issue.

“The notes provide very competitive long term capital and further diversify Newcrest’s sources of funding”.

Settlement of the offering of the notes is expected to occur on 15 November.

About PPM.net

PPM.net is the premier New York firm that handles both 144A offerings and Regulation S (Reg S) offerings. If your company is seeking to issue bonds and needs top consultatnts to assist in the 144A or Reg S, PPM.net can assist.

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Spectrum Brands Announces 144A Offering

Spectrum Brands Announces Proposed Offering of $150 Million of Additional Senior Secured Notes under Rule 144A

MADISON, Wis., Nov 02, 2011 (BUSINESS WIRE) — Spectrum Brands Holdings, Inc. SPB +0.60% and Spectrum Brands, Inc. announced today the intention of Spectrum Brands, Inc. to offer $150 million aggregate principal amount of 9.50% Senior Secured Notes via a 144A Offering due 2018 as additional notes to the already outstanding $750 million aggregative principal amount of existing notes. The additional 144A notes will be guaranteed by Spectrum Brands’ parent company, SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries and secured by liens on substantially all of the assets of Spectrum Brands and the guarantors. The additional notes will vote together with the existing notes.

The proceeds from the offering are intended to be used for general corporate purposes, which may include, among other things, working capital needs, the refinancing of existing indebtedness, the expansion of the business, and possible future acquisitions.

The 144A Notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in reliance on Regulation S under the Securities Act.

The 144A Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of any Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, Inc., a member of the Russell 2000 Index, is a diversified global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading and widely trusted brands including Rayovac(R), Remington(R), Varta(R), George Foreman(R), Black & Decker(R), Toastmaster(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Littermaid(R), Spectracide(R), Cutter(R), Repel(R), and Hot Shot(R).Spectrum Brands Holdings’ products are sold by the world’s top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from continuing operations in fiscal 2010. For more information, visit www.spectrumbrands.com.

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PPM.net is a leading 144A firm, specializing in the creation of documents, consulting, and general services as it relates to 144A offerings, 144A bonds, while servicing companies in 144A globally.

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According to data from CUSIP Global Services, the pace of requests for domestic corporate security identifiers continued to rise in September as well as for the third quarter. CUSIP orders for domestic corporate securities, comprised of domestic corporate debt issues and domestic corporate equities, totaled 1,988 in September, a 7.4% increase from the August total of 1,851. The recent monthly figures represent the best month for domestic corporate security requests in more than three years when May 2008 saw 2,092 domestic corporate CUSIP orders.

Breaking out activities between debt and equity identifiers, we saw domestic corporate debt CUSIP volume reaching 1,074 last month, the monthly high point for the year and the second straight month of 1,000‐plus requests. Meanwhile, domestic equity CUSIP requests reached 914 in September, the strongest monthly showing this year since June when 868 CUSIPs were sought.

Municipal CUSIP orders rose 14% in September to 1,255 from the previous month’s total of 1,101. While that was the second highest monthly total for 2011 to date, municipal securities identifier volume nonetheless declined by over ‐6% in the thirdquarter 2011 from the previous quarter. While both short‐term and long‐term Muni note CUSIP volumes rose last month, total volume remains down for the year.

International securities’ CUSIP activity was mixed in the past month. While international debt CUSIP volume ended a fivemonth slide, September’s total of 71 requests was the second lowest monthly count this year. Meanwhile, international equity CUSIP requests experienced their sharpest monthly drop since last December as orders retreated by ‐21.5% in the past month to 255, driving year‐over‐year volume negative for the period.

Private placement note CUSIP volume rose to 230 requests last month, compared to 170 in August, pushing year to date volume up13.5% from the same period a year ago.

CUSIP activity throughout 2011 at www.cusip.com.

About CUSIP Trends

CUSIP Trends Global Issuance Report is a monthly compilation of new securities issuance trends and insights compiled by CUSIP Global Services (CGS), the world leader in financial instrument identification.

Each report provides an analysis of securities issuance activity on a sectorby-sector, asset class-by-asset class and regional basis, offering an early indicator of nascent market trends and burgeoning hot spots of new capital creation.

Data for the report comes from the CGS database, which contains issuer, issue and entity identifiers, standardized descriptions and related data for more than 9.1 million securities, IPOs, preferred stock, funds, CDs and competitive/negotiated deals. CGS is managed on behalf of the American Bankers Association by S&P Capital IQ. For more information, visit www.cusip.com.

CUSIP orders for domestic corporate securities rose for the second consecutive month as September demand totaled 1,988 identifiers. Besides ranking as the most active month for domestic corporate CUSIPs since May 2008, when 2,092 security identifiers were sought, the recent results marked the first back to back month gains since the February-March period of this year.

Municipal CUSIP requests continued to climb for the second straight month with 1,255 identifiers ordered. That represents the second best monthly showing in 2011, with June’s count of 1,385 being the highest/best. Still, despite these recent results, requests were off by 6.3%
in the 3rd quarter from the prior quarter.

International equity CUSIP volume dropped by 21.5% in September while international debt CUSIP requests ended a fivemonth
slide as 71 new identifiers were sought, up from the prior month’s total of 60. Private placement note CUSIP demand was essentially flat in September.

Need assistance to obtain a CUSIP number or ISIN number? Call us today

About PPM.net

PPM.net is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM.net have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM.net’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM.net can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs - as well as to regional and global demands - helps our clients save needed capital and time.

We are leaders in:

• New York Private Placement
• Real Estate Private Placement
• Power Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Power Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
• 144A Private Placement Offering, Senior Notes, DTCC

• Real Estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing

• Equity Private Placement Memorandum Writing

Oct. 10 (Bloomberg) — U.S. venture capital fundraising dropped to the lowest in eight years in the third quarter as a slowing economic recovery and debt crisis in Europe led to fewer initial public offerings.

Venture firms raised $1.72 billion in the period, down 53 percent from the same period a year earlier and the lowest amount since the third quarter of 2003, the National Venture Capital Association said today in a statement.

Companies canceled or postponed $8.9 billion in IPOs in the third quarter as stocks plunged, hurting returns for venture capitalists and investors in their funds. The Standard & Poor’s 500 Index tumbled 14 percent in the quarter, the biggest decline since the fourth quarter of 2008. Volatility surged amid an intensifying European debt crisis and a U.S. credit downgrade from ratings service S&P.

“The quarter’s low fundraising numbers are reflective of ongoing challenges within the venture capital exit markets,” said Mark Heesen, president of the Arlington, Virginia-based NVCA, in the statement. “Economic instability continues to impact the ability of venture-backed companies to go public which, in turn, has prevented many venture firms from delivering solid returns to their investors.”

The biggest fund was raised by Shasta Ventures in Menlo Park, California, which brought in $265 million. Longitude Venture Partners, a life sciences firm also in Menlo Park, raised the second biggest fund at $159 million. The data was compiled by the NVCA and Thomson Reuters Corp.

Call us for a free consultation, www.ppm.net

U.S. Sets Slate of Debt Sales

WASHINGTON-The Treasury on Thursday announced plans to sell $122 billion next week in bills, notes, and bonds.

Details of the offerings (all with minimum denominations of $100):

• Tuesday: In the usual weekly sale, $29 billion in three-month bills and $27 billion in six-month bills will be sold. The bills will be dated Oct. 13, 2011, and mature Jan. 12, 2012, and April 12, 2012, respectively. The Cusip number for the three-month bills is 9127952Y6 and for the six-month bills is 9127955H0.

Noncompetitive tenders for the bills must be received by 11:00 a.m. Eastern time Tuesday, and competitive tenders by 11:30 a.m.

• Tuesday: $32 billion in three-year notes will be sold. The dated date is Oct. 15, 2011. The issue date is Oct. 17, 2011. The notes mature Oct. 15, 2014. Cusip number is 912828RL6. Noncompetitive tenders for the notes must be received by noon Tuesday, and competitive tenders by 1:00 p.m.
• Wednesday: $21 billion in 10-year notes will be sold. The dated date is Aug. 15, 2011. The issue date is Oct. 17, 2011. The notes mature Aug. 15, 2021. Cusip number is 912828RC6. Noncompetitive tenders for the notes must be received by noon Wednesday, and competitive tenders by 1:00 p.m. (Details on the usual four-week bill sale will be announced on Tuesday).
• Thursday: $13 billion in 30-year bonds will be sold. The dated date is Aug. 15, 2011. The issue date is Oct. 17, 2011. The notes mature Aug. 15, 2041. Cusip number is 912810QS0. Noncompetitive tenders for the bonds must be received by noon Thursday, and competitive tenders by 1:00 p.m.

PPM.net can assist with your debt offering, 144A Bonds, CUSIP numbers, obtain an ISIN number and more.

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Euroclear brings in the heavyweights as settlement competition hots up

Euroclear, the international settlement provider, has added two industry heavyweights to its board of directors. The appointments come at a critical time as the infrastructure provider attempts to position itself amid increasing competition.

Mathias Hlubek, the former chief financial officer of Deutsche Börse, Europe’s largest exchange group which is currently merging with NYSE Euronext, and Eddy Wymeersch, a regulator and academic, have joined Euroclear as independent directors.

Hlubek, who could not be reached for comment, became a member of the Euroclear Group board last month and is due to join the board of Euroclear’s Belgian subsidiary pending a board member vote this month. Wymeersch, who joined both boards over the summer, said: “I will strive to ensure the safety and reliability of Euroclear’s important market function.”

Hlubek, who is a senior adviser to private equity firm Warburg Pincus, joined Deutsche Börse in 1999 and served as CFO from 2001 to 2007. He was an architect of several large transactions during his tenure at the German exchange, including Deutsche Börse’s initial public offering, its takeover of Euroclear’s rival Clearstream through two acquisitions in 2000 and 2002, and its failed 2005 bid for the London Stock Exchange. Hlubek resigned from Deutsche Börse in 2007 amid a management reshuffle.

Wymeersch served as the former chairman of securities watchdog the Committee of European Securities Regulators, which in January became the European Securities and Markets Authority, between 2007 and 2010. He recently became chairman of regulatory association the European Corporate Governance Institute.

Competition in European settlement is heating up as custodians and exchanges set their sights on the sector. The Bank of New York Mellon is considering establishing a central securities depositary, according to sources familiar with the situation, while the London Stock Exchange has said it plans to expand its settlement business.

A CSD transfers securities in return for payment, known as settlement. Establishing a CSD would allow BNY Mellon to capitalise on a regulation-driven expansion in the collateral management business. BNY Mellon declined to comment.

Meanwhile, T2S, Europe’s project to reduce settlement fees, is likely to lead to CSD consolidation. Kevin Milne, director of post-trade services at the London Stock Exchange, which owns Italian CSD Monte Titoli, told Financial News that the exchange is eyeing opportunities in settlement, which could include “business combinations”. He said: “Monte Titoli is one of the most diversified CSDs in Europe and I think we are well placed to compete in this sector.”

About PPM.net

PPM.net is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM.net have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM.net’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM.net can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs - as well as to regional and global demands - helps our clients save needed capital and time.

We are leaders in:

• New York Private Placement
• Real Estate Private Placement
• Power Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Power Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
• 144A Private Placement Offering, Senior Notes,DTCC

• Real Estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing
• Equity Private Placement Memorandum Writing

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