Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only IDD can deliver.
  • Investment Dealers' Digest one-month trial subscription
  • IDDMagazine.com one-month trial subscription
  • Free e-newsletters
  • Free whitepapers

January 15, 2010

 Past Issues

Cover Story

Morgan Stanley's 2010: A 'Strategic' Year for M&A

Michael Boublik, a 20-year veteran of Morgan Stanley's mergers and acquisitions practice, may look back at 2009 as one of the most challenging chapters of his career. It was a rough-and-tumble year that started with a great deal of uncertainty for Wall Street, but ended on a positive note that likely will drive broad-based M&A activity in 2010.

Capital Markets

Quoted

Notable quotes from capital-markets players during the past week.

Looking Ahead

A calendar of events taking place in the capital markets next week.

Fixed Income

Bottom Fishing for Vallejo Bond Bargains

Matt Dalton is willing to buy the debt of a bankrupt borrower — and he can’t find any for sale at a suitable price.

Las Vegas Monorail Co. Seeks Chapter 11 Protection

The Las Vegas Monorail Co., which has more than $600 million of municipal bonds outstanding, sought Chapter 11 bankruptcy protection last Wednesday.

Little Movement After a Big Wednesday

The municipal market was mostly unchanged with a firmer tone yesterday in the wake of the deluge of new issuance that soaked the primary Wednesday. “There’s not a whole lot of movement,” a trader in New York said. “There’s a decent amount of activity, and it’s maybe a touch firmer in spots, but on the whole, I’d call it pretty flat right now.” …

Toll Road Is the First P3 Default in South Carolina

WASHINGTON — More than $200 million of toll revenue bonds issued by the Connector 2000 Association Inc. for a 16-mile toll road in Greenville County, S.C., defaulted on Jan. 1, in what sources said is the first public-private partnership default in the state.

State v. Localities at California Ballot Box

SAN FRANCISCO — The often contentious relationship between California and its local governments appears to be ­heading back to the electoral battlefield this year.

JTC Pegs BABs at $12.5B

WASHINGTON — The Joint Tax Committee is estimating that the wildly popular Build America Bond program will cost $12.5 billion from fiscal 2009 through fiscal 2013.

Yields Show Little Change in an Active Week

The Bond Buyer’s weekly yield indexes were flat to slightly lower this week as the primary market took center stage with over $9 billion sold, in the most active week of new issuance so far in the new year.

Investment Banking

Primary Dealership Just One Step for MF Global

MF Global, spun off from a hedge fund manager, has growth plans that include leveraging its status as a Treasury securities dealer.

Cantor Sets Sights on Middle Market Banking

A new team of commercial real estate pros expects to keep busy with CRE restructurings as delinquencies jet higher.

Leveraged Finance

The Season of Exits

As companies in bankruptcy court conclude their workouts, market players expect an uptick in exit financings.

M&A

M&A May Help Drive Private Placements

Like other segments of Wall Street’s credit markets, the private-placement market endured its share of peaks and troughs last year, with issuers, investors and agents vulnerable to the choppiness that marked 2009.

Personnel File

Moelis Jumps Into Insurance Banking

Moelis & Co. brought on John Sipp as a managing director, broadening the firm's FIG team and marking its entry into the insurance coverage area.

Private Equity

Will PE Shortfall Impair Dealmaking?

The private-equity industry raised less capital in 2009, leaving many firms with a shortfall of money for new purchases.

Securities in Registration

Securities In Registration

The following is a list of planned new offerings that have been registered with the SEC in the past month, but have not yet come to market. Deals that have been withdrawn are excluded.