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Recent Global Debt Deals in Media/telecom
| Issue Date | Issuer | Principal Amount ($ mil) | Final Maturity | Coupon (%) | Offer Yield to Maturity (%) | Bookrunner(s) | Moody Rating | Stan- dard & Poor's Rating | Fitch Rating |
|---|---|---|---|---|---|---|---|---|---|
| 5/29/2008 | Cox Communications Inc | 250 | 6/01/1938 | 6.95 | 6.97 | Barclays Capital Deutsche Bank Securities Corp JP Morgan Lehman Brothers | Baa3 | BBB- | BBB |
| 5/29/2008 | Cox Communications Inc | 750 | 6/01/2018 | 6.25 | 6.304 | Citi JP Morgan Wachovia Securities Inc | Baa3 | BBB- | BBB |
| 5/28/2008 | CSC Holdings Inc | 500 | 6/15/2015 | 8.5 | 8.5 | Banc of America Securities LLC Citi Merrill Lynch JP Morgan | B1 | BB | NR |
| 5/28/2008 | Telecom Italia Capital | 1000.00 | 6/04/1938 | 7.721 | 7.721 | Goldman Sachs & Co JP Morgan Lehman Brothers Merrill Lynch | Baa2 | BBB | BBB+ |
| 5/28/2008 | Telecom Italia Capital | 1000.00 | 6/04/2018 | 6.999 | 6.999 | Goldman Sachs & Co JP Morgan Lehman Brothers Merrill Lynch | Baa2 | BBB | BBB+ |
| 5/08/2008 | AT&T Inc | 1000.00 | 5/15/2018 | 5.6 | 5.611 | Banc of America Securities LLC Deutsche Bank Securities Corp Morgan Stanley UBS Investment Bank | A2 | A | A |
| 5/08/2008 | AT&T Inc | 1250.00 | 5/15/1938 | 6.4 | 6.429 | Banc of America Securities LLC Deutsche Bank Securities Corp Morgan Stanley UBS Investment Bank | A2 | A | A |
| 5/08/2008 | AT&T Inc | 750 | 1/15/2013 | 4.95 | 4.645 | Banc of America Securities LLC Deutsche Bank Securities Corp Morgan Stanley UBS Investment Bank | A2 | A | A |
| 5/06/2008 | Grupo Televisa SAB de CV | 500 | 5/15/2018 | 6 | 6.097 | HSBC Securities Inc JP Morgan | Baa1 | BBB+ | BBB+ |
| 5/05/2008 | Newport Television LLC | 200 | 3/15/2017 | 13 | 15.773 | Wachovia Securities Inc Goldman Sachs & Co UBS Investment Bank | Caa1 | CCC+ | NR |
| 5/02/2008 | Comcast Corp | 1000.00 | 5/15/1938 | 6.4 | 6.416 | Citi Deutsche Bank Securities Corp Merrill Lynch UBS Investment Bank | Baa2 | BBB+ | BBB+ |
| 5/02/2008 | Comcast Corp | 1000.00 | 5/15/2018 | 5.7 | 5.703 | Citi Deutsche Bank Securities Corp Merrill Lynch UBS Investment Bank | Baa2 | BBB+ | BBB+ |
| 4/24/2008 | Vimpel-Communications OJSC | 1000.00 | 4/30/2013 | 8.375 | 8.375 | UBS Investment Bank ABN AMRO Citi BNP Paribas SA Calyon Barclays Capital Group HSBC Holdings PLC ING Barings BBL | Ba2 | BB+ | NR |
| 4/07/2008 | NIELSEN FINANCE | 220 | 8/01/2014 | 10 | 10.109 | JP Morgan | Caa1 | B- | NR |
| 4/07/2008 | Videotron Ltd | 455 | 4/15/2018 | 9.125 | 9.37 | Banc of America Securities LLC Citi RBC Capital Markets Scotia Capital (USA) Inc. | Ba2 | BB- | NR |
Recently Announced Global M&A Deals in Telecommunications
| Date Announced | Target Name | Target Nation | Acquiror Name | Acquiror Nation | Value of Transaction ($mil) |
|---|---|---|---|---|---|
| 6/16/2008 | TM Intl(Bangladesh)Ltd | Bangladesh | NTT DoCoMo Inc | Japan | 350 |
| 6/13/2008 | Beijing Beikong Telecom Tech | China | Chengdu Dr Peng Tech Co Ltd | China | 0.145 |
| 6/13/2008 | Toronto Hydro Telecom Inc | Canada | Cogeco Cable Inc | Canada | 194.363 |
| 6/13/2008 | WMNetServ Ltd | India | Wipro Ltd | India | |
| 6/12/2008 | MobiFone | Vietnam | Investors(Non-US) | Supranational | |
| 6/12/2008 | Viatech-client portfolio | Brazil | Trellis | Brazil | |
| 6/11/2008 | Beijing Jiaoda Microunion Tech | China | Beijing Hengtong Fangda New | China | 5.98 |
| 6/11/2008 | Global Network Tech Co Ltd | Taiwan | Vastar Cable TV System Corp | Taiwan | |
| 6/11/2008 | Pro Tech Communications Inc | United States | Four Crystal Funding LLC | United States | |
| 6/10/2008 | Azaire Networks Inc | United States | IntelliNet Technologies Inc | United States | |
| 6/10/2008 | Beijing Tianyu Commun Equip Co | China | EM Warburg Pincus & Co Inc | United States | 70 |
| 6/09/2008 | UTStarcom Inc-Mobile Solutions | United States | OpenGate Capital | United States | |
| 6/09/2008 | Verizon Airfone Inc | United States | LiveTV LLC | United States | |
| 6/07/2008 | Eventis Telecom Holdings Ltd | Cyprus | Gleb Ognyannikov | Russian Fed | |
| 6/07/2008 | Indosat | Indonesia | Qtel | Qatar | 1800.00 |
Telecommunications
Recent US Syndicated Loans
| Financial Close Date | Borrower | Business Description | Loan Package Amt (US$ Mil) | Bookrunner(s) | Loan Description |
|---|---|---|---|---|---|
| 6/06/2008 | Dex Media West LLC | Pvd telephone directory svcs | 1170.00 | JP Morgan BankAmerica | RevCred/Term Ln |
| 6/06/2008 | Dex Media West LLC | Pvd telephone directory svcs | 1170.00 | JP Morgan BankAmerica | RevCred/Term Ln |
| 6/06/2008 | Dex Media West LLC | Pvd telephone directory svcs | 1170.00 | JP Morgan BankAmerica | RevCred/Term Ln |
| 5/02/2008 | GCI Holdings | Telephone Communications | 145 | Calyon | Term Loan A |
| 4/11/2008 | AT&T Corp | Own,op telecommunications sys | 3000.00 | Citi JP Morgan | Rev Cred Fac |
| 4/03/2008 | ADC Telecommun-IP Cable Bus | Mnfr voice,video,data sys | 200 | JP Morgan | Rev Cred Fac |
| 3/31/2008 | FairPoint Communications Inc | Pvd rural telecom svcs | 2030.00 | Lehman Brothers BankAmerica Morgan Stanley & Co | RevCred/Term Ln |
| 3/31/2008 | FairPoint Communications Inc | Pvd rural telecom svcs | 2030.00 | Lehman Brothers BankAmerica Morgan Stanley & Co | RevCred/Term Ln |
| 3/31/2008 | FairPoint Communications Inc | Pvd rural telecom svcs | 2030.00 | Lehman Brothers BankAmerica Morgan Stanley & Co | RevCred/Term Ln |
| 3/31/2008 | FairPoint Communications Inc | Pvd rural telecom svcs | 2030.00 | Lehman Brothers BankAmerica Morgan Stanley & Co | RevCred/Term Ln |
| 3/31/2008 | Protostar Ltd | Pvd satellite svcs | 200 | Credit Suisse | Term Loan |
| 3/28/2008 | Potter Electric Signal Co | Mnfr security prod | 32.775 | National City Bank(Cleveland) | RevCred/TLA |
| 3/28/2008 | Potter Electric Signal Co | Mnfr security prod | 32.775 | National City Bank(Cleveland) | RevCred/TLA |
| 3/28/2008 | Potter Electric Signal Co | Mnfr security prod | 32.775 | National City Bank(Cleveland) | RevCred/TLA |
Global Telecom Sector Breakdown
| Industry | 1/1/2008 - 6/16/2008 (US$ Mil) | Deals | 1/1/2007 - 6/16/2007 (US$ Mil) | Deals |
|---|---|---|---|---|
| Telecommunications Services | 32733 | 41 | 38486 | 63 |
| Wireless | 22598 | 30 | 22660.4 | 38 |
| Telecommunications Equipment | 1253.1 | 4 | 3108.8 | 14 |
| Other Telecom | 846.6 | 4 | 393.1 | 2 |
| Space and Satellites | 757.1 | 2 | 702.3 | 3 |
| Industry Total | 58187.8 | 81 | 65350.5 | 120 |
Announced Global Target M&A Advisers in Telecom
| Advisor | 1/1/2008 - 6/16/2008 ($ Mil) | Rank | 1/1/2007 - 6/16/2007 ($ Mil) | Rank |
|---|---|---|---|---|
| Goldman Sachs & Co | 86293.7 | 1 | 47677.6 | 1 |
| Morgan Stanley | 64832.8 | 2 | 25888.3 | 7 |
| Citi | 57640.5 | 3 | 40950.2 | 3 |
| Merrill Lynch | 49362.9 | 4 | 31009 | 5 |
| SEB Enskilda | 47909.8 | 5 | 189.6 | 41 |
| BNP Paribas SA | 47807.1 | 6 | 801.3 | 24 |
| Lehman Brothers | 45746.1 | 7 | 14936.9 | 9 |
| UBS | 36177.9 | 8 | 33010.7 | 4 |
| RBS | 29814.7 | 9 | 9089.8 | 14 |
| JP Morgan | 19497.1 | 10 | 41578 | 2 |
| Industry Total | 127939.5 | - | 109508.9 | - |
Recent Global Equity Deals in Media/telecom
| 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) |
|---|---|---|---|---|---|---|---|
| 5/30/2008 | Ent Media & Telecoms Corp Ltd | 9 | 0.04 | 0.071 | na | Lodge Corporate Pty Ltd | No |
| 5/22/2008 | Cellcom Israel Ltd | 66 | 115.5 | 34.118 | na | Deutsche Bank AG | No |
| 5/21/2008 | Hughes Communications Inc | 112 | 50 | 48.99 | 5.5 | Goldman Sachs & Co Lehman Brothers | No |
| 5/20/2008 | Celtel Zambia | 2 | 6.4 | na | Pangaea Partners Zambia Standard Bank PLC | Yes | |
| 5/09/2008 | Turk Telekomunikasyon AS | 1900.50 | 0.046 | 3.568 | na | Garanti Bank | Yes |
| 5/09/2008 | Turk Telekomunikasyon AS | 1900.50 | 0.04 | 3.568 | na | Deutsche Bank AG | Yes |
| 5/07/2008 | Safaricom Ltd | 845.6 | 5 | 0.13 | na | Morgan Stanley | Yes |
| 5/07/2008 | Safaricom Ltd | 845.6 | 5.5 | 0.13 | na | Morgan Stanley | Yes |
| 5/06/2008 | Motive Television PLC | 1.3 | 0.007 | 0.018 | na | Dowgate Capital PLC | No |
| 5/01/2008 | Pipe Networks Ltd | 24.2 | 4 | 3.647 | na | ABN Amro Morgans Ltd Wilson HTM | No |
| 4/30/2008 | Shenzhen Topway Video Comm | 67 | 6.98 | 1.857 | na | Guosen Securities Co Ltd | Yes |
| 4/25/2008 | Cyfrowy Polsat Spoka Akcyjna | 343.1 | 12.5 | 6.541 | na | UBS Investment Bank Unicredit Dom Maklerski BMT SA | Yes |
| 4/25/2008 | Turkcell Iletisim Hizmetleri | 673.3 | 9.6 | 6.87 | na | JP Morgan | No |
| 4/23/2008 | Crimson Tide PLC | 0.6 | 0.012 | 0.037 | na | WH Ireland Ltd | No |
| 4/23/2008 | Qonnectis PLC | 2.5 | 0.01 | na | JMFinn Capital Markets Ltd HB-Corporate | No | |
| 4/23/2008 | Qonnectis PLC | 2.5 | 0.01 | na | JMFinn Capital Markets Ltd HB-Corporate | No | |
Global Telecommunications
| Bookrunner | 1/1/2008 - 6/16/2008 (US$ Mil) | Rank | 1/1/2007 - 6/16/2007 (US$ Mil) | Rank |
|---|---|---|---|---|
| Deutsche Bank AG | 5914.6 | 1 | 10171.2 | 1 |
| JP Morgan | 4922.3 | 2 | 5623.4 | 2 |
| Morgan Stanley | 4340.1 | 3 | 3680.1 | 6 |
| Citi | 4280 | 4 | 4623.4 | 3 |
| Banc of America Securities LLC | 3640.3 | 5 | 2198.8 | 11 |
| Lehman Brothers | 3162.3 | 6 | 3282.7 | 10 |
| Barclays Capital | 2814.2 | 7 | 2192.4 | 12 |
| Merrill Lynch | 2528.7 | 8 | 3620.7 | 8 |
| RBS | 2516.6 | 9 | 4527 | 4 |
| Calyon | 2034.2 | 10 | 897.5 | 17 |
| Industry Total | 58187.8 | - | 65350.5 | - |
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 | 7616.7 | 24 | 10625.8 | 51 |
| Convertibles | 2366.7 | 5 | 4385 | 7 |
| Straight Debt | 48204.4 | 52 | 49189.7 | 61 |
| Straight Preferred | - | - | 1150 | 1 |
| Taxable Municipals | - | - | - | - |
| ABS/MBS | - | - | - | - |
Announced U.S. Target M&A Advisers in Telecom
| Advisor | 1/1/2008 - 6/16/2008 ($ Mil) | Rank | 1/1/2007 - 6/16/2007 ($ Mil) | Rank |
|---|---|---|---|---|
| Morgan Stanley | 35500 | 1* | 11097.1 | 6 |
| Citi | 35500 | 1* | 34500.1 | 1 |
| Lehman Brothers | 35500 | 1* | 2807.8 | 9 |
| UBS | 28169 | 4 | 573.5 | 14 |
| RBS | 28100 | 5* | - | - |
| Goldman Sachs & Co | 28100 | 5* | 27024 | 5 |
| JP Morgan | 7400 | 7 | 27504.1 | 3 |
| Jefferies & Co Inc | 433 | 8 | 792.9 | 11 |
| Banc of America Securities LLC | 195.1 | 9* | 0 | 27* |
| Needham & Co Inc | 195.1 | 9* | - | - |
| Industry Total | 36854.4 | - | 44349.3 | - |
Equity/Equity Related Volume
| Date | Equity | Debt |
|---|---|---|
| June 2007 | 8964.4 | 12492.3 |
| July 2007 | 1688.2 | 1686.1 |
| August 2007 | 144.5 | 2239.2 |
| September 2007 | 914.4 | 587 |
| October 2007 | 2997.7 | 3382.3 |
| November 2007 | 1763.8 | 7162.3 |
| December 2007 | 1450.4 | 9440.5 |
| January 2008 | 648.5 | 4944.6 |
| February 2008 | 1975 | 7804.7 |
| March 2008 | 1810.7 | 6815.2 |
| April 2008 | 2017.8 | 11740.5 |
| May 2008 | 3509.3 | 13339.9 |
| June 2008 | 22.2 | 3559.5 |
US Telecom
| Bookrunner | 1/1/2008 - 6/16/2008 (US$ Mil) | Rank | 1/1/2007 - 6/16/2007 (US$ Mil) | Rank |
|---|---|---|---|---|
| Banc of America Securities LLC | 3640.3 | 1 | 1859.9 | 8 |
| Lehman Brothers | 3162.3 | 2 | 3180.7 | 1 |
| Citi | 2696.7 | 3 | 2919.9 | 2 |
| JP Morgan | 2160 | 4 | 1972.7 | 7 |
| Morgan Stanley | 1930.9 | 5 | 2099.7 | 4 |
| Deutsche Bank AG | 1655 | 6 | 2322.8 | 3 |
| Goldman Sachs & Co | 1554.8 | 7 | 705.7 | 10 |
| Credit Suisse | 1408.8 | 8 | 2046.2 | 6 |
| UBS | 1374.8 | 9 | 1106.6 | 9 |
| Barclays Capital | 1259.9 | 10 | 166.7 | 12* |
| Industry Total | 22639.2 | - | 20920.9 | - |
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