US Private Placement I
In the first of this two-part series on US Private Placements, Tim defines USPPs and gives an overview of the market, before explaining why they are so appealing to certain investors.
Overview
Private placements act as a hybrid between a public bond and a syndicated loan. They are not regulated by the SEC and public disclosures are not required. Debtors are willing to pay a higher interest rate in order to maintain confidentiality and work with a sophisticated, smaller group of investors.
Key learning objectives:
Understand what a private placement is
Explain the key differences between a private placement and other securities
Describe the unique benefits of a private placement
Summary
Expert
Tim Hall
Tim has nearly 30 years of experience in the international capital markets at major global institutions and has worked both on the buy-side and the sell-side. He has worked with numerous companies, banks and governments in developed and emerging markets on investment grade and high yield bond issues, from straight-forward to very complex acquisition/leveraged financings. Tim has also been on the board of a UK “challenger bank.” Tim has an MBA from the Wharton School, and is a CFA.
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