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Equity/Equity Related Volume
| Date | Equity | Debt |
|---|---|---|
| June 2007 | 13216.4 | 18766.6 |
| July 2007 | 6622.1 | 7465.1 |
| August 2007 | 1693.6 | 2917.3 |
| September 2007 | 5078.5 | 10691.3 |
| October 2007 | 9046.9 | 7257.5 |
| November 2007 | 19802.7 | 11608.7 |
| December 2007 | 6400.3 | 5893.6 |
| January 2008 | 338.7 | 7992.1 |
| February 2008 | 4519.4 | 5402.8 |
| March 2008 | 3790 | 5066 |
| April 2008 | 3406.6 | 5665.2 |
| May 2008 | 5830.7 | 16628.6 |
| June 2008 | 1140.3 | 6180.8 |
Recent Global Debt Deals in Industrials
| Issue Date | Issuer | Principal Amount ($ mil) | Final Maturity | Coupon (%) | Offer Yield to Maturity (%) | Bookrunner(s) | Moody Rating | Stan- dard & Poor's Rating | Fitch Rating |
|---|---|---|---|---|---|---|---|---|---|
| 6/16/2008 | Petrohawk Energy Corp | 300 | 6/01/2015 | 7.875 | 8.114 | Merrill Lynch | B3 | B | NR |
| 6/13/2008 | TotalFinaElf Capital | 93.9 | 1/24/2013 | 7.5 | 7.947 | TD Securities Inc | Aa1 | AA | NR |
| 6/13/2008 | TotalFinaElf Capital | 95.6 | 6/24/2012 | 6 | 6.274 | UBS Investment Bank | Aa1 | AA | NR |
| 6/12/2008 | AmerenUE | 450 | 2/01/2019 | 6.7 | 6.739 | Barclays Capital BNY Capital Markets Inc JP Morgan | Baa1 | BBB | A+ |
| 6/12/2008 | Targa Resources Partners LP | 250 | 7/01/2016 | 8.25 | 8.25 | Deutsche Bank AG Credit Suisse Banc of America Securities LLC | B2 | B | NR |
| 6/11/2008 | Duke Energy Corp | 250 | 6/15/2018 | 6.25 | 6.285 | Credit Suisse Goldman Sachs & Co Lehman Brothers | Baa2 | BBB+ | NR |
| 6/11/2008 | Duke Energy Corp | 250 | 6/15/2013 | 5.65 | 5.696 | Credit Suisse Goldman Sachs & Co Lehman Brothers | Baa2 | BBB+ | NR |
| 6/11/2008 | Progress Energy Florida | 500 | 6/15/2018 | 5.65 | 5.698 | Barclays PLC Citi Greenwich Capital Markets Inc | A2 | A- | A+ |
| 6/11/2008 | Progress Energy Florida | 1000.00 | 6/15/1938 | 6.4 | 6.432 | Barclays PLC Citi Greenwich Capital Markets Inc | A2 | A- | A+ |
| 6/09/2008 | Sempra Energy Inc | 500 | 6/15/2018 | 6.15 | 6.155 | Citi JP Morgan Morgan Stanley & Co | Baa1 | BBB+ | A |
| 6/05/2008 | Panhandle Estn Pipe Line Co LP | 400 | 6/15/2018 | 7 | 7.04 | Banc of America Securities LLC Credit Suisse JP Morgan | Baa3 | BBB- | BBB |
| 6/04/2008 | Detroit Edison Co(DTE Energy) | 300 | 6/15/2018 | 5.6 | 5.619 | Citi Key Banc Capital Markets | A3 | A- | A- |
| 6/04/2008 | Southwestern Electric Power Co | 400 | 1/15/2019 | 6.45 | 6.467 | BNP Paribas SA JP Morgan Credit Suisse | Baa1 | BBB | BBB+ |
| 6/03/2008 | Kinder Morgan Energy Partners | 325 | 1/15/1938 | 6.95 | 6.994 | Wachovia Securities Inc Banc of America Securities LLC Deutsche Bank Securities Corp | Baa2 | BBB | BBB |
| 6/03/2008 | Kinder Morgan Energy Partners | 375 | 2/15/2018 | 5.95 | 6.188 | Wachovia Securities Inc Banc of America Securities LLC Deutsche Bank Securities Corp | Baa2 | BBB | BBB |
Global Industrials
| Bookrunner | 1/1/2008 - 6/16/2008 (US$ Mil) | Rank | 1/1/2007 - 6/16/2007 (US$ Mil) | Rank |
|---|---|---|---|---|
| Citi | 6516.4 | 1 | 8684.7 | 2 |
| Morgan Stanley | 4344.8 | 2 | 5751.7 | 6 |
| JP Morgan | 4329.3 | 3 | 7431.2 | 4 |
| CITIC | 4075.6 | 4 | 505.5 | 32 |
| Goldman Sachs & Co | 3623.3 | 5 | 4959.2 | 8 |
| Credit Suisse | 3119.2 | 6 | 5961.7 | 5 |
| Banc of America Securities LLC | 2824.7 | 7 | 2376.6 | 16 |
| Merrill Lynch | 2495.3 | 8 | 4907.6 | 9 |
| Mizuho Financial Group | 2074.2 | 9 | 2291 | 17 |
| Barclays Capital | 2023.6 | 10 | 3053.8 | 12 |
| Industry Total | 65961.3 | - | 116422 | - |
Announced U.S. Target M&A Advisers in Industrials
| Advisor | 1/1/2008 - 6/16/2008 ($ Mil) | Rank | 1/1/2007 - 6/16/2007 ($ Mil) | Rank |
|---|---|---|---|---|
| JP Morgan | 14019.5 | 1 | 15933.9 | 3 |
| Merrill Lynch | 12500.5 | 2 | 8231.3 | 5 |
| Greenhill & Co, LLC | 7012.3 | 3* | 0 | 49* |
| Morgan Stanley | 7012.3 | 3* | 16491.5 | 2 |
| Lehman Brothers | 6183.7 | 5 | 2325 | 10 |
| Goldman Sachs & Co | 6085.5 | 6 | 22578 | 1 |
| Mediobanca | 5482.2 | 7 | - | - |
| UBS | 2422 | 8 | 8741.5 | 4 |
| Deutsche Bank AG | 1763.5 | 9 | 2273.1 | 11* |
| Credit Suisse | 1495.6 | 10 | 6425.1 | 7 |
| Industry Total | 25317.5 | - | 48973.4 | - |
Global Volume by Product
| (01/01/08- 06/16/08) | (01/01/07- 06/16/07) | |||
|---|---|---|---|---|
| Security Type | Proceeds ($mil) | Issues | Proceeds ($mil) | Issues |
| Common Stock | 17963.8 | 109 | 39636 | 195 |
| Convertibles | 1061.9 | 9 | 5157.3 | 18 |
| Straight Debt | 46584.1 | 188 | 68259.5 | 204 |
| Straight Preferred | - | - | 100 | 1 |
| Taxable Municipals | 351.4 | 3 | 0.1 | 1 |
| ABS/MBS | - | - | 3269 | 4 |
Industrials
Recent US Syndicated Loans
| Financial Close Date | Borrower | Business Description | Loan Package Amt (US$ Mil) | Bookrunner(s) | Loan Description |
|---|---|---|---|---|---|
| 6/13/2008 | Illinois Tool Works Inc | Mnfr,whl fasteners,tools | 1500.00 | JP Morgan | Rev Cred Fac |
| 6/11/2008 | Aquatech International Corp | Mnfr industrial water heaters | 32.5 | PNC Bank Corp | Rev Cred Fac |
| 6/11/2008 | Aquatech International Corp | Mnfr industrial water heaters | 32.5 | PNC Bank Corp | Rev Cred Fac |
| 6/11/2008 | 40 Park, LLC | Construction firm | 38.33 | PNC Bank Corp | Term Loan |
| 6/11/2008 | Epstein B Rental, LLC | Residential construction | 72.215 | PNC Bank Corp | Term Loan |
| 6/05/2008 | Ingersoll-Rand Co Ltd | Mnfr industrial mach,equip | 3900.00 | JP Morgan Credit Suisse Goldman Sachs & Co | Rev Cred Fac |
| 6/05/2008 | Hardinge Inc | Mnfr machine tools,metal works | 100 | JP Morgan | Rev Cred Fac |
| 6/02/2008 | 701 Aliceanna St Funding LLC | resident builders operation | 207.5 | BankAmerica Wachovia Bank NA | Term Loan |
| 6/02/2008 | Western Branch Diesel Inc | engine servicing & retail | 35 | BankAmerica | Rev Cred Fac |
| 5/31/2008 | Standard Pacific Corp | Constr residential bldgs | 500 | BankAmerica JP Morgan | Rev Cred Fac |
| 5/30/2008 | MAT Holdings Inc | Mnfr,whl motor vehicle parts | 175 | JP Morgan | RevCred/Term Ln |
| 5/30/2008 | MAT Holdings Inc | Mnfr,whl motor vehicle parts | 175 | JP Morgan | RevCred/Term Ln |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 74.1 | Citi | Term Loan B |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 361.61 | Citi | RevCred/Term Ln |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 177.16 | Citi | Term Loan B |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 74.1 | Citi | Term Loan B |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 361.61 | Citi | RevCred/Term Ln |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 177.16 | Citi | Term Loan B |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 177.16 | Citi | Term Loan B |
| 5/29/2008 | Xerium Inc(Apax Partners Inc) | Mnfr paper-making machine part | 177.16 | Citi | Term Loan B |
US Industrials
| Bookrunner | 1/1/2008 - 6/16/2008 (US$ Mil) | Rank | 1/1/2007 - 6/16/2007 (US$ Mil) | Rank |
|---|---|---|---|---|
| Citi | 3996.6 | 1 | 5280 | 1 |
| Morgan Stanley | 3716.3 | 2 | 3090 | 4 |
| Goldman Sachs & Co | 2912.5 | 3 | 2548.9 | 5 |
| JP Morgan | 2858.4 | 4 | 3878 | 2 |
| Banc of America Securities LLC | 2824.7 | 5 | 2266.7 | 6 |
| Merrill Lynch | 1565.3 | 6 | 1899.7 | 8 |
| Credit Suisse | 1478.5 | 7 | 3629.6 | 3 |
| Barclays Capital | 1380 | 8 | 1639.9 | 9 |
| Wachovia Corp | 810 | 9 | 1585.4 | 10 |
| Lehman Brothers | 752.7 | 10 | 1365.4 | 12 |
| Industry Total | 24889.3 | - | 34362.7 | - |
Recently Announced Global M&A Deals in Industrials
| Date Announced | Target Name | Target Nation | Acquiror Name | Acquiror Nation | Value of Transaction ($mil) |
|---|---|---|---|---|---|
| 6/16/2008 | Bayou Steel Corp | United States | Arcelor Mittal NV | Luxembourg | 475 |
| 6/16/2008 | Classic Shuttle | United States | SuperShuttle International Inc | United States | |
| 6/16/2008 | Gold Canyon Mining and Constr | United States | ClearLight Partners LLC | United States | |
| 6/16/2008 | Marvin Windows & Doors | United States | Heritage Door LLC | United States | |
| 6/16/2008 | Partnership Marketing Group | United States | Allstate Corp | United States | |
| 6/14/2008 | Jiangsu Dongqiang Co Ltd | China | Jiangsu Sainty Co Ltd | China | 3.265 |
| 6/13/2008 | Airbus Express | New Zealand | Johnston's Coachlines Ltd | New Zealand | |
| 6/13/2008 | Angel Trains Ltd | United Kingdom | Investor Group | Australia | 7005.24 |
| 6/13/2008 | Anhui Zhongding Keumah Auto | China | Anhui Zhongding Sealing Parts | China | |
| 6/13/2008 | Cableport Holdings Ltd | Hong Kong | Leading Highway Ltd | Hong Kong | |
| 6/13/2008 | China New Trend Group Co-Bus | China | Lear Corp | United States | |
| 6/13/2008 | Composite Aeronautic Group SL | Spain | Tecnam | Italy | |
| 6/13/2008 | Eurodifarm Srl | Italy | Wisequity II | Italy | |
| 6/13/2008 | Fotosolar SA | Spain | EDF Energies Nouvelles SA | France | |
| 6/13/2008 | Freightliner Group Ltd | United Kingdom | Arcapita Bank BSC | Bahrain | |
Recent Global Equity Deals
| Issue Date | Issuer | Principal Amt - sum of all Mkts ($ mil) | Offer Price | 06/16/08 Price | Gross Spread as % of Prncpl Amt - in this Mkt | Bookrunner(s) | IPO Flag (Y/N) |
|---|---|---|---|---|---|---|---|
| 6/13/2008 | Monitor Energy Ltd | 1.2 | 0.01 | 0.02 | na | Melbourne Capital Ltd | No |
| 6/12/2008 | OGX Petroleo e Gas | 3589.20 | 1131.00 | 757.16 | 2.75 | UBS Pactual Credit Suisse Banco Itau-BBA SA | Yes |
| 6/11/2008 | Petrolifera Petroleum Ltd | 39.2 | 9.00 | 8.75 | 5 | RBC Capital Markets | No |
| 6/10/2008 | Boardwalk Pipeline Partners LP | 253 | 25.30 | 24.90 | 3.747 | Citi Lehman Brothers Morgan Stanley UBS Investment Bank | No |
| 6/10/2008 | Empyrean Energy PLC | 8.9 | 0.50 | 1.08 | na | HB-Corporate | No |
| 6/06/2008 | Beach Petroleum Ltd | 183.8 | 1.43 | 1.28 | na | ABN Amro Equities Australia Euroz Securities Ltd | No |
| 6/06/2008 | Bronco Energy Ltd | 61.9 | 14.75 | 14.65 | na | Macquarie Equity Capital Mkts RBC Capital Markets | No |
| 6/06/2008 | Emerald Oil & Gas NL | 2.9 | 0.20 | 0.22 | na | Azure Capital Pty Ltd | No |
| 6/05/2008 | Canext Energy Ltd | 7.9 | 0.95 | 0.78 | na | Wellington West Capital Inc | No |
| 6/05/2008 | Canext Energy Ltd | 7.9 | 0.80 | 0.78 | na | Wellington West Capital Inc | No |
| 6/05/2008 | Rift Oil PLC | 10.1 | 0.05 | 0.14 | na | RBC Capital Markets | No |
| 6/05/2008 | Target Energy Ltd | 3.2 | 0.13 | 0.15 | na | Patersons Securities Ltd | No |
| 6/04/2008 | Facilasol Group | 0.4 | 5.69 | 13.29 | na | Europe Finance et Industrie | Yes |
| 6/04/2008 | Questerre Energy Corp | 70.6 | 4.70 | 4.30 | 5 | Dundee Securities Corporation | No |
| 6/02/2008 | Corridor Resources Inc | 55.1 | 13.00 | 9.88 | 5 | RBC Capital Markets | No |
| 6/02/2008 | Corridor Resources Inc | 55.1 | 10.60 | 9.88 | 5 | RBC Capital Markets | No |
Announced Global Industrial M&A Deals
| Industry | 1/1/2008 - 12/31/2008 ($ Mil) | Deals | 1/1/2007 - 6/16/2007 ($ Mil) | Deals |
|---|---|---|---|---|
| Transportation & Infrastructure | 44109.5 | 489 | 37266.8 | 543 |
| Automobiles & Components | 20930.5 | 271 | 29638.7 | 320 |
| Building/Construction & Engineering | 16337 | 659 | 33185.9 | 785 |
| Machinery | 14984.5 | 509 | 11194.3 | 512 |
| Other Industrials | 10621.2 | 343 | 17835.7 | 418 |
| Aerospace & Defense | 7859 | 55 | 18108 | 75 |
| Industry Total | 114841.6 | 2326 | 147229.4 | 2653 |
Announced Global Target M&A Advisers in Industrials
| Advisor | 1/1/2008 - 6/16/2008 ($ Mil) | Rank | 1/1/2007 - 6/16/2007 ($ Mil) | Rank |
|---|---|---|---|---|
| JP Morgan | 26308.3 | 1 | 32015.8 | 1 |
| UBS | 25484.8 | 2 | 23466.6 | 4 |
| Morgan Stanley | 20230 | 3 | 29983.3 | 2 |
| Merrill Lynch | 18991.2 | 4 | 14000.7 | 6 |
| Deutsche Bank AG | 14928.1 | 5 | 6173.3 | 12 |
| Goldman Sachs & Co | 12807.9 | 6 | 25529.4 | 3 |
| Credit Suisse | 11728 | 7 | 15262.1 | 5 |
| Citi | 11341.8 | 8 | 8568.9 | 9 |
| Lazard | 9346.2 | 9 | 12394.5 | 7 |
| Lehman Brothers | 8146.4 | 10 | 5588.4 | 14 |
| Industry Total | 114841.6 | - | 147229.4 | - |
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