NEW YORK, Feb. 7, 2012 /PRNewswire/ – American Loan Compliance, America’s leading loss mitigation and commercial mortgage loan audit report experts, were recently featured in the press showcasing the advantages to having loans investigated prior to negotiating terms on restructuring real estate loans. The experts interviewed and featured are dedicated to spreading knowledge, educational products, tools and awareness in their field of expertise and making significant contributions to the mortgage loan modification, real estate finance and mortgage violation audit and analysis industry and the marketplace as a whole.
(Logo: http://photos.prnewswire.com/prnh/20120207/LA48812LOGO)
American Loan Compliance (ALC), specializes in strategic mortgage compliance analysis and audit report services and has recently opened its doors to consumers allowing homeowners seeking mortgage assistance and loan modification to obtain these services direct. Viewed as America’s most knowledgeable, proven and experienced mortgage compliance auditing firms to correspondent lending institutions, federal banking associations, law firms, wholesale lenders and direct lending institutions across the country. American Loan Compliance will concentrate their efforts on helping the general population more effectively obtain accurate investigative mortgage audit reports and ensure clarification on enforceable loans. A very effective and experienced management team that is sure to make a huge impact in an industry with an ambiguous reputation in anxious need of assistance leads the dynamic force overseeing operational management at the private held company.
American Loan Compliance has shifted momentum, acting as a national strategic investigative analysis and enforcement management firm which provides professional, advisory, and consulting services to financial institutions, consumer protection, financial and regulatory agencies, including mortgage bankers, real estate attorneys, commercial and retail lending entities, and property owners. American Loan Compliance sets the standard in mortgage compliance in the United States providing a variety of audit reports no other firm has come close to close its competitive advantage in an ambiguous industry in demand for supplemental mortgage loan analysis and homeland assistance. The quality control behind closed doors, displays strategic expertise and addresses all critical areas associated with American mortgage loan compliance regulatory matters, observance and quality control in U.S. residential and commercial real estate mortgage finance. American Loan Compliance can assist clients in meeting the oversight of regulators, fair lending mandates and maintaining internal lending integrity and validation practices through independent quality control audit reports.
American Loan Compliance will provide you with the evidence and support you can trust to help you seek better loan modification terms, restructuring of new terms via loan workouts, principal/rate reductions, or continued discovery. With the greatest potential to alleviate “normal modification” setbacks and re-occurrence of default, qualified and objective evidence helps simplify negotiations and stay using the information and support provided by American Loan Compliance.
A 2009, FDIC Office of Inspector General Report revealed:
83% of the institutions examined were cited for “significant” compliance violations
43% of those institutions were “repeat offenders”
85% of those repeat offenders were highly rated by the FDIC for their in-place compliance process
The other importance of the mortgage loan audit findings is that it may be the grounds to help move a non-judicial foreclosure action (currently in 29 states), if necessary, into jurisdiction, which can stop foreclosure in its tracks. More importantly, borrowers regardless of financial hardship and payment history now have the chance for a better position to negotiate new terms or loan settlement. Violations found in a loan audit can help place the borrower in the offense! We at American Loan Compliance help legal professionals navigate through the process with our learning channels, which we find critical for those legal advisors that are looking to make the audit solution part of their business practice. Information is only as good as the ones that know how best to use it
The driving force behind American Loan Compliance consist of executive and management teams which include best-selling authors and speakers who are regularly sought out by the media to give expert opinions. Many have been featured on NBC, CNBC, CBS, ABC and FOX affiliates as well as seen in USA Today, Newsweek, Forbes, Market watch, Ask The Experts©, Los Angeles Business Journal and the Wall Street Journal. American Loan Compliance mission is homeland assistance from business to consumers, ensuring the most intelligent solutions and accurate analysis obtained via their flagship mortgage compliance analysis reports. Audit Reports allow the ability and vision to direct arbitration on residential and commercial mortgages and through strategic analysis ensure enforcement of mortgage loan modification and payment assistance at the best results attainable.
American Loan Compliance has collaborated with other established agencies and most recently, Homeland Assistance Agency based in Washington D.C. and the Federal Relief Organization based in Los Angeles. This collaboration of powerhouse agencies has vowed to allow consumers a unique option of working with trusted and proven sources as a one stop merger of industry experts to determine and proceed with their ultimate goals related to the property in distress, in need of assistance or available for more lucrative cash flow options.
American Loan Compliance is located in New York City, New York. Their corporate address is 1330 Avenue of the Americas, Floor 23A, New York City, NY 10019. For more information about American Loan Compliance, please visit http://www.AmericanLoanCompliance.com for consumer information. Please visit www.AmericanLoanCompliance.info for general information or call (888) 929-2829.
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2012年2月8日星期三
Apollo Investment Corporation Announces Quarterly Financial Results, Senior Management Changes, Quarterly Dividend …
NEW YORK, NY–(Marketwire -02/08/12)- Apollo Investment Corporation (NASDAQ: AINV – News)
The Board announced today that Mr. Edward Goldthorpe will be joining Apollo Investment Corporation as its President, succeeding Mr. Patrick Dalton, who formerly held positions as President and Chief Operating Officer. Mr. Edward Goldthorpe will also replace Mr. Dalton as Chief Investment Officer of our investment adviser. The Company announced that its Board of Directors has appointed Mr. James Zelter as the Company‘s interim President, effective immediately. He will also serve as interim CIO of Apollo Investment Management until Mr. Goldthorpe joins, which is expected to occur in the next 90 days. Mr. Zelter will retain his position as Chief Executive Officer of the Company. Apollo Investment also announced that its Board of Directors has appointed Mr. Gene Donnelly, Apollo Global Management, LLC’s CFO, as interim CFO and Treasurer for the Company. Mr. Donnelly succeeds Mr. Richard Peteka who formerly served as the Company’s CFO and Treasurer. Mr. Donnelly will serve as interim CFO and Treasurer until a permanent replacement has been appointed by the Board. The Board also named Ms. Eileen Patrick as the Executive Vice President of Corporate Strategy for the Company. In this newly created role, Ms. Patrick will assist in the execution of Apollo Investment Corporation’s strategic expansion during this period of transition.
In order to capitalize on various proprietary market opportunities and to maintain an appropriate capital structure, the Board has authorized management to explore whether the Company should raise up to $200 million of additional equity capital, which may be conducted, among other means, through either a marketed deal or a rights offering. Apollo Global Management has informed the Company that it intends to support AINV’s equity capital raise, which in the case of a rights offering could include the exercise of oversubscription rights as a backstop for up to $50 million. In further support of an equity offering, Apollo Investment Management has informed the Company that it intends to waive its management and incentive fees associated with any shares issued through this offering. Additionally, Apollo Global Management may also purchase shares of AINV in the open market.
The Company also announced that its Board of Directors has declared for the fourth fiscal quarter of 2012 a dividend of $0.20 per share, payable on April 3, 2012 to stockholders of record as of February 18, 2012. We believe having a dividend that is more closely aligned with net investment income per share is prudent and appropriate. The specific tax characteristics of this dividend will be reported to stockholders on Form 1099 after the end of the calendar year.
Mr. Zelter, Apollo Investment Corporation’s Chief Executive Officer, said, “Since the onset of the global credit crisis, we believe the role of business development companies such as Apollo Investment Corporation has become increasingly important, filling the gap left by banks and traditional financial services companies. Prior to the credit crisis, AINV focused primarily on providing acquisition financing to middle market private equity sponsors. Today, we believe the growing void in the capital markets creates attractive opportunities for our business. Consequently, we intend to expand our footprint to provide a wider array of proprietary private financing solutions for companies across a broad spectrum of industries and situations. The changes we have announced today, including more closely aligning our dividend with our net investment income and our decision to explore the raising of additional equity capital, are designed to reposition us to grow our business in the current environment.”
Mr. Zelter continued, “We are very pleased that industry veteran Edward Goldthorpe has agreed to join the senior management team at AINV, and we are confident he will play a major role in driving growth and value creation for the Company. Broadly speaking, we believe the changes we have made will enable us to capitalize on the meaningful opportunities we see in the current market and generate attractive risk-adjusted returns for our shareholders.”
ABOUT EDWARD J. GOLDTHORPE:Mr. Goldthorpe was most recently with Goldman Sachs for the past 13 years, where he served as a Managing Director with the Bank Loan Distressed Investing Desk (2009-2012), and prior to that Mr. Goldthorpe was a Managing Director with the Special Situations Group within the firm’s Securities Division (2005-2009). Previously, Mr. Goldthorpe was a Vice President in the High Yield Distressed Group (2001-2005), an analyst in the Merchant Banking Division (2000-2001), and an analyst in the Investment Banking Division (1999-2000).
FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED DECEMBER 31, 2011:
At December 31, 2011:
Total Assets: $2.9 billion
Investment Portfolio: $2.8 billion
Net Assets: $1.6 billion
Net Asset Value per share: $8.16
Portfolio Activity for the Quarter Ended December 31, 2011:
Investments made during the quarter: $95 million
Number of new portfolio companies invested: 3
Investments sold or prepaid during the quarter: $175 million
Number of portfolio company exits: 5
Operating Results for the Quarter Ended December 31, 2011 (in thousands, except per share amounts):
Net investment income: $38,538
Net realized and unrealized gain: $25,159
Net increase in net assets from operations: $63,697
Net investment income per share: $0.20
Net realized and unrealized gain per share: $0.12
Earnings per share — basic: $0.32
Earnings per share — diluted: $0.31
CONFERENCE CALL / WEBCAST AT 11:00 AM EST ON FEBRUARY 8, 2012
The Company will host a conference call at 11:00 a.m. (Eastern Standard Time) on Wednesday, February 8, 2012 to present third fiscal quarter results. All interested parties are welcome to participate in the conference call by dialing (888) 802-8579 approximately 5-10 minutes prior to the call, international callers should dial (973) 633-6740. Participants should reference Apollo Investment Corporation or Conference ID: 40610975 when prompted. Following the call you may access a replay of the event either telephonically or via audio webcast. The telephonic replay will be available through February 22, 2012 by calling (800) 585-8367; international callers please dial (404) 537-3406, reference pin #40610975. The audio webcast will be available later that same day. To access the audio webcast please visit the Event Calendar in the Investor Relations section of our website at www.apolloic.com.
PORTFOLIO AND INVESTMENT ACTIVITYDuring the three months ended December 31, 2011, we invested $95 million across 3 new and 6 existing portfolio companies, through a combination of primary and secondary market purchases. This compares to investing $382 million in 8 new and 3 existing portfolio companies for the three months ended December 31, 2010. Investments sold or prepaid during the three months ended December 31, 2011 totaled $175 million versus $481 million for the three months ended December 31, 2010.
At December 31, 2011, our portfolio consisted of 67 portfolio companies and was invested 29% in senior secured loans, 60% in subordinated debt, 1% in preferred equity and 10% in common equity and warrants measured at fair value versus 69 portfolio companies invested 29% in senior secured loans, 62% in subordinated debt, 1% in preferred equity and 8% in common equity and warrants at December 31, 2010.
The weighted average yields on our senior secured loan portfolio, subordinated debt portfolio and total debt portfolio as of December 31, 2011 at our current cost basis were 9.7%, 12.6% and 11.7%, respectively. At December 31, 2010, the yields were 8.7%, 12.9% and 11.5%, respectively.
Since the initial public offering of Apollo Investment in April 2004 and through December 31, 2011, invested capital totaled over $8.6 billion in 164 portfolio companies. Over the same period, Apollo Investment completed transactions with more than 100 different financial sponsors.
At December 31, 2011, 66% or $1.7 billion of our income-bearing investment portfolio is fixed rate and 34% or $0.8 billion is floating rate, measured at fair value. On a cost basis, 65% or $1.8 billion of our income-bearing investment portfolio is fixed rate and 35% or $1.0 billion is floating rate. At December 31, 2010, 63% or $1.7 billion of our income-bearing investment portfolio was fixed rate and 37% or $1.0 billion was floating rate. On a cost basis, 63% or $1.8 billion of our income-bearing investment portfolio was fixed rate and 37% or $1.0 billion was floating rate.
RESULTS OF OPERATIONS
Results comparisons below are for the three and nine months ended December 31, 2011 and December 31, 2010.
Investment Income
For the three and nine months ended December 31, 2011, gross investment income totaled $83.8 million and $272.4 million, respectively. For the three and nine months ended December 31, 2010, gross investment income totaled $94.3 million and $264.1 million, respectively. The decrease in gross investment income for the three months ended December 31, 2011 as compared to the three months ended December 31, 2010 was primarily due to a decrease in the receipt of prepayment premiums and other deal related income. The increase in gross investment income for the nine months ended December 31, 2011 as compared to the nine months ended December 31, 2010 was primarily due to an increase in the receipt of prepayment premiums and other deal related income.
Expenses
Expenses totaled $45.3 million and $140.7 million, respectively, for the three and nine months ended December 31, 2011, of which $24.3 million and $75.6 million, respectively, were base management fees and performance-based incentive fees and $16.9 million and $50.2 million, respectively, were interest and other debt expenses. Administrative services and other general and administrative expenses totaled $4.0 million and $14.9 million, respectively, for the three and nine months ended December 31, 2011. Expenses totaled $44.2 million and $122.9 million, respectively, for the three and nine months ended December 31, 2010, of which $27.7 million and $80.1 million, respectively, were base management fees and performance-based incentive fees and $13.4 million and $34.1 million, respectively, were interest and other debt expenses. Administrative services and other general and administrative expenses totaled $3.0 million and $8.8 million, respectively, for the three and nine months ended December 31, 2010. Expenses consist of base investment advisory and management fees, insurance expenses, administrative services fees, legal fees, directors’ fees, audit and tax services expenses, and other general and administrative expenses. The increase in expenses from the December 2010 periods to the December 2011 periods was primarily due to an increase in interest expense as our average interest cost in the current periods is over 100 basis points higher than in the year ago periods and the average debt outstanding is roughly $150 million higher on a year over year basis. The increase in average interest cost resulted from the issuance of new tranches of long-term fixed rate debt in periods during and subsequent to the three and nine month periods ended December 31, 2010. In addition, in the nine month period ended December 31, 2011, the Company recognized approximately $4.0 million in net non-recurring expenses, including legal and other professional expenses of $4.7 million net of a non-recurring reduction of administrative expenses.
Net Investment Income
The Company’s net investment income totaled $38.5 million and $131.7 million, or $0.20 and $0.67, per average basic share, respectively, for the three and nine months ended December 31, 2011. The Company’s net investment income totaled $50.1 million and $141.1 million, or $0.26 and $0.73, per average basic share, respectively, for the three and nine months ended December 31, 2010.
Net Realized Losses
The Company had investment sales and prepayments totaling $175 million and $1.3 billion, respectively, for the three and nine months ended December 31, 2011. The Company had investment sales and prepayments totaling $481 million and $722 million, respectively, for the three and nine months ended December 31, 2010. Net realized losses for the three and nine months ended December 31, 2011 were $275.0 million and $341.1 million, respectively. For the three and nine months ended December 31, 2010, net realized losses totaled $64.9 million and $150.5 million, respectively. Net realized losses for the three and nine month periods ended December 31, 2011 were primarily derived from the exits of select investments, specifically Grand Prix Holdings, which accounted for $274 million of the realized loss totals, but also included Playpower Holdings, TL Acquisitions and FSC Holdings. The realized losses incurred upon the exit of these investments reversed out previously reported unrealized losses. Net realized losses for the three and nine months ended December 31, 2010 were primarily derived from selective exits and restructurings of underperforming investments.
Net Unrealized Appreciation (Depreciation) on Investments, Cash Equivalents and Foreign Currencies
For the three and nine months ended December 31, 2011, net change in unrealized appreciation on the Company’s investments, cash equivalents, foreign currencies and other assets and liabilities totaled $300.2 million and $5.9 million, respectively. For the three and nine months ended December 31, 2010, net change in unrealized appreciation on the Company’s investments, cash equivalents, foreign currencies and other assets and liabilities totaled $99.3 million and $77.7 million, respectively. For the three months ended December 31, 2011, the increase in unrealized appreciation was mainly derived from the reclassification of $274 million of previously recognized unrealized depreciation on our investment in Grand Prix Holdings to a realized loss. For the nine months ended December 31, 2011, the change in unrealized depreciation was comprised of the impact from Grand Prix Holdings together with the general decline in capital market conditions during the period. For the three and nine months ended December 31, 2010, net unrealized appreciation was impacted by net changes in specific portfolio company fundamentals and stronger capital market conditions.
Net Increase (Decrease) in Net Assets From Operations
For the three months ended December 31, 2011, the Company had a net increase in net assets resulting from operations of $63.7 million. For the nine months ended December 31, 2011, the Company had a net decrease in net assets resulting from operations of $203.5 million. For the three and nine months ended December 31, 2010, the Company had a net increase in net assets resulting from operations of $84.5 million and $68.4 million, respectively. For the three months ended December 31, 2011 basic and diluted earnings per average share were $0.32 and $0.31, respectively. For the nine months ended December 31, 2011, basic and diluted losses per average share were $1.04 and $1.04, respectively. The basic and diluted earnings per average share were $0.43 and $0.36 for the three and nine months ended December 31, 2010.
LIQUIDITY AND CAPITAL RESOURCES
The Company’s liquidity and capital resources are generated and generally available through periodic follow-on equity and debt offerings, our senior secured, multi-currency $1.254 billion revolving credit facility maturing on April 12, 2013 (see note 10 within the Notes to Financial Statements) (the “Facility”), our senior secured notes, investments in special purpose entities in which we hold and finance particular investments on a non-recourse basis, as well as from cash flows from operations, investment sales of liquid assets and prepayments of senior and subordinated loans and income earned from investments. The Company also has investments in its portfolio that contain PIK provisions. PIK investments offer issuers the option at each payment date of making payments in cash or in additional securities. When additional securities are received, they typically have the same terms, including maturity dates and interest rates as the original securities issued. On these payment dates, the Company capitalizes the accrued interest or dividends receivable (reflecting such amounts as the basis in the additional securities received). PIK generally becomes due at maturity of the investment or upon the investment being called by the issuer. In order to maintain the Company’s status as a RIC, this non-cash source of income must be paid out to stockholders annually in the form of dividends, even though the Company has not yet collected the cash. For the nine months ended December 31, 2011, accrued PIK totaled $13.1 million, on total investment income of $272.4 million. On April 13, 2011, $380 million of commitments on the Facility matured. At December 31, 2011, the Company had $743 million in borrowings outstanding on its Facility and $511 million of unused capacity. As of December 31, 2011, aggregate lender commitments under the Facility total $1.254 billion.
On May 3, 2010, the Company closed on its most recent follow-on public equity offering of 17.25 million shares of common stock at $12.40 per share raising approximately $204 million in net proceeds. In the future, the Company may raise additional equity or debt capital, among other considerations. The primary use of funds will be investments in portfolio companies, reductions in debt outstanding and other general corporate purposes, including the payment of interest, fees or distributions to shareholders.
On September 30, 2010, the Company entered into a note purchase agreement, providing for a private placement issuance of $225 million in aggregate principal amount of five-year, senior secured notes with a fixed interest rate of 6.25% and a maturity date of October 4, 2015 (the “Senior Secured Notes”). On October 4, 2010, the Senior Secured Notes were sold to certain institutional accredited investors pursuant to an exemption from registration under the Securities Act of 1933, as amended. Interest on the Senior Secured Notes will be due semi-annually on April 4 and October 4, commencing on April 4, 2011. The proceeds from the issuance of the Senior Secured Notes were primarily used to reduce other outstanding borrowings and/or commitments on the Company’s Facility.
On January 25, 2011, the Company closed a private offering of $200 million aggregate principal amount of senior unsecured convertible notes (the “Convertible Notes”). The Convertible Notes were issued in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The Convertible Notes bear interest at an annual rate of 5.75%, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2011. The Convertible Notes will mature on January 15, 2016 unless earlier converted or repurchased at the holder’s option. Prior to December 15, 2015, the Convertible Notes will be convertible only upon certain corporate reorganizations, dilutive recapitalizations or dividends, or if, during specified periods our shares trade at more than 130% of the then applicable conversion price or the Convertible Notes trade at less than 97% of their conversion value and, thereafter, at any time. The Convertible Notes will be convertible by the holders into shares of common stock, initially at a conversion rate of 72.7405 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes (14,548,100 common shares) corresponding to an initial conversion price per share of approximately $13.75, which represents a premium of 17.5% to the $11.70 per share closing price of the Company’s common stock on The NASDAQ Global Select Market on January 19, 2011. The conversion rate will be subject to adjustment upon certain events, such as stock splits and combinations, mergers, spin-offs, increases in dividends in excess of $0.28 per share per quarter and certain changes in control. Certain of these adjustments, including adjustments for increases in dividends, are subject to a conversion price floor of $11.70 per share. The Convertible Notes are senior unsecured obligations and rank senior in right of payment to our existing and future indebtedness that is expressly subordinated in right of payment to the Convertible Notes; equal in right of payment to our existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of our secured indebtedness (including existing unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities.
On August 11, 2011, the Company adopted a plan for the purpose of repurchasing up to $200 million of its common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934. The Company’s plan was designed to allow it to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. A broker selected by the Company will have the authority under the terms and limitations specified in the plan to repurchase shares on the Company’s behalf in accordance with the terms of the plan. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the plan. While the portion of the plan reliant on Rule 10b-18 remains in effect, the portion reliant on Rule 10b5-1 is subject to periodic renewal and is not currently in effect. As of December 31, 2011, no shares have been repurchased.
On September 29, 2011, the Company closed a private offering of $45 million aggregate principal amount of senior secured notes (the “Notes”) consisting of two series: (1) 5.875% Senior Secured Notes, Series A, of the Company due September 29, 2016 in the aggregate principal amount of $29 million; and (2) 6.250% Senior Secured Notes, Series B, of the Company due September 29, 2018, in the aggregate principal amount of $16 million. The Notes were issued in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The net proceeds from the offering of Notes are intended to be used to fund new portfolio investments, reduce outstanding borrowings on the Company’s Facility and for general corporate purposes, including the payment of interest, fees or distributions to shareholders.
Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio is principally in middle-market private companies. From time to time, the Company may also invest in public companies. The Company invests primarily in senior secured loans and mezzanine loans and equity in furtherance of its business plan. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Management, L.P., a leading private equity investor.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.
We may use words such as “anticipates,” “believes,” “expects,” “intends”, “will”, “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.
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- Reports Net Assets of $1.6 billion and Net Asset Value per share of $8.16 as of December 31, 2011 and Net Investment Income of $0.20 per share for the quarter ended December 31, 2011
- Names Respected Industry Veteran Edward Goldthorpe as President
- Seeks to Capitalize on Current Market Opportunities by Providing Diverse Array of Private Debt Market Investment Solutions
- Declares a Dividend of $0.20 per share for the Fiscal Fourth Quarter of 2012
- Considers an Equity Capital Raise with Support from Apollo Global Management and Related Fee Waiver from Apollo Investment Management
The Board announced today that Mr. Edward Goldthorpe will be joining Apollo Investment Corporation as its President, succeeding Mr. Patrick Dalton, who formerly held positions as President and Chief Operating Officer. Mr. Edward Goldthorpe will also replace Mr. Dalton as Chief Investment Officer of our investment adviser. The Company announced that its Board of Directors has appointed Mr. James Zelter as the Company‘s interim President, effective immediately. He will also serve as interim CIO of Apollo Investment Management until Mr. Goldthorpe joins, which is expected to occur in the next 90 days. Mr. Zelter will retain his position as Chief Executive Officer of the Company. Apollo Investment also announced that its Board of Directors has appointed Mr. Gene Donnelly, Apollo Global Management, LLC’s CFO, as interim CFO and Treasurer for the Company. Mr. Donnelly succeeds Mr. Richard Peteka who formerly served as the Company’s CFO and Treasurer. Mr. Donnelly will serve as interim CFO and Treasurer until a permanent replacement has been appointed by the Board. The Board also named Ms. Eileen Patrick as the Executive Vice President of Corporate Strategy for the Company. In this newly created role, Ms. Patrick will assist in the execution of Apollo Investment Corporation’s strategic expansion during this period of transition.
In order to capitalize on various proprietary market opportunities and to maintain an appropriate capital structure, the Board has authorized management to explore whether the Company should raise up to $200 million of additional equity capital, which may be conducted, among other means, through either a marketed deal or a rights offering. Apollo Global Management has informed the Company that it intends to support AINV’s equity capital raise, which in the case of a rights offering could include the exercise of oversubscription rights as a backstop for up to $50 million. In further support of an equity offering, Apollo Investment Management has informed the Company that it intends to waive its management and incentive fees associated with any shares issued through this offering. Additionally, Apollo Global Management may also purchase shares of AINV in the open market.
The Company also announced that its Board of Directors has declared for the fourth fiscal quarter of 2012 a dividend of $0.20 per share, payable on April 3, 2012 to stockholders of record as of February 18, 2012. We believe having a dividend that is more closely aligned with net investment income per share is prudent and appropriate. The specific tax characteristics of this dividend will be reported to stockholders on Form 1099 after the end of the calendar year.
Mr. Zelter, Apollo Investment Corporation’s Chief Executive Officer, said, “Since the onset of the global credit crisis, we believe the role of business development companies such as Apollo Investment Corporation has become increasingly important, filling the gap left by banks and traditional financial services companies. Prior to the credit crisis, AINV focused primarily on providing acquisition financing to middle market private equity sponsors. Today, we believe the growing void in the capital markets creates attractive opportunities for our business. Consequently, we intend to expand our footprint to provide a wider array of proprietary private financing solutions for companies across a broad spectrum of industries and situations. The changes we have announced today, including more closely aligning our dividend with our net investment income and our decision to explore the raising of additional equity capital, are designed to reposition us to grow our business in the current environment.”
Mr. Zelter continued, “We are very pleased that industry veteran Edward Goldthorpe has agreed to join the senior management team at AINV, and we are confident he will play a major role in driving growth and value creation for the Company. Broadly speaking, we believe the changes we have made will enable us to capitalize on the meaningful opportunities we see in the current market and generate attractive risk-adjusted returns for our shareholders.”
ABOUT EDWARD J. GOLDTHORPE:Mr. Goldthorpe was most recently with Goldman Sachs for the past 13 years, where he served as a Managing Director with the Bank Loan Distressed Investing Desk (2009-2012), and prior to that Mr. Goldthorpe was a Managing Director with the Special Situations Group within the firm’s Securities Division (2005-2009). Previously, Mr. Goldthorpe was a Vice President in the High Yield Distressed Group (2001-2005), an analyst in the Merchant Banking Division (2000-2001), and an analyst in the Investment Banking Division (1999-2000).
FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED DECEMBER 31, 2011:
At December 31, 2011:
Total Assets: $2.9 billion
Investment Portfolio: $2.8 billion
Net Assets: $1.6 billion
Net Asset Value per share: $8.16
Portfolio Activity for the Quarter Ended December 31, 2011:
Investments made during the quarter: $95 million
Number of new portfolio companies invested: 3
Investments sold or prepaid during the quarter: $175 million
Number of portfolio company exits: 5
Operating Results for the Quarter Ended December 31, 2011 (in thousands, except per share amounts):
Net investment income: $38,538
Net realized and unrealized gain: $25,159
Net increase in net assets from operations: $63,697
Net investment income per share: $0.20
Net realized and unrealized gain per share: $0.12
Earnings per share — basic: $0.32
Earnings per share — diluted: $0.31
CONFERENCE CALL / WEBCAST AT 11:00 AM EST ON FEBRUARY 8, 2012
The Company will host a conference call at 11:00 a.m. (Eastern Standard Time) on Wednesday, February 8, 2012 to present third fiscal quarter results. All interested parties are welcome to participate in the conference call by dialing (888) 802-8579 approximately 5-10 minutes prior to the call, international callers should dial (973) 633-6740. Participants should reference Apollo Investment Corporation or Conference ID: 40610975 when prompted. Following the call you may access a replay of the event either telephonically or via audio webcast. The telephonic replay will be available through February 22, 2012 by calling (800) 585-8367; international callers please dial (404) 537-3406, reference pin #40610975. The audio webcast will be available later that same day. To access the audio webcast please visit the Event Calendar in the Investor Relations section of our website at www.apolloic.com.
PORTFOLIO AND INVESTMENT ACTIVITYDuring the three months ended December 31, 2011, we invested $95 million across 3 new and 6 existing portfolio companies, through a combination of primary and secondary market purchases. This compares to investing $382 million in 8 new and 3 existing portfolio companies for the three months ended December 31, 2010. Investments sold or prepaid during the three months ended December 31, 2011 totaled $175 million versus $481 million for the three months ended December 31, 2010.
At December 31, 2011, our portfolio consisted of 67 portfolio companies and was invested 29% in senior secured loans, 60% in subordinated debt, 1% in preferred equity and 10% in common equity and warrants measured at fair value versus 69 portfolio companies invested 29% in senior secured loans, 62% in subordinated debt, 1% in preferred equity and 8% in common equity and warrants at December 31, 2010.
The weighted average yields on our senior secured loan portfolio, subordinated debt portfolio and total debt portfolio as of December 31, 2011 at our current cost basis were 9.7%, 12.6% and 11.7%, respectively. At December 31, 2010, the yields were 8.7%, 12.9% and 11.5%, respectively.
Since the initial public offering of Apollo Investment in April 2004 and through December 31, 2011, invested capital totaled over $8.6 billion in 164 portfolio companies. Over the same period, Apollo Investment completed transactions with more than 100 different financial sponsors.
At December 31, 2011, 66% or $1.7 billion of our income-bearing investment portfolio is fixed rate and 34% or $0.8 billion is floating rate, measured at fair value. On a cost basis, 65% or $1.8 billion of our income-bearing investment portfolio is fixed rate and 35% or $1.0 billion is floating rate. At December 31, 2010, 63% or $1.7 billion of our income-bearing investment portfolio was fixed rate and 37% or $1.0 billion was floating rate. On a cost basis, 63% or $1.8 billion of our income-bearing investment portfolio was fixed rate and 37% or $1.0 billion was floating rate.
RESULTS OF OPERATIONS
Results comparisons below are for the three and nine months ended December 31, 2011 and December 31, 2010.
Investment Income
For the three and nine months ended December 31, 2011, gross investment income totaled $83.8 million and $272.4 million, respectively. For the three and nine months ended December 31, 2010, gross investment income totaled $94.3 million and $264.1 million, respectively. The decrease in gross investment income for the three months ended December 31, 2011 as compared to the three months ended December 31, 2010 was primarily due to a decrease in the receipt of prepayment premiums and other deal related income. The increase in gross investment income for the nine months ended December 31, 2011 as compared to the nine months ended December 31, 2010 was primarily due to an increase in the receipt of prepayment premiums and other deal related income.
Expenses
Expenses totaled $45.3 million and $140.7 million, respectively, for the three and nine months ended December 31, 2011, of which $24.3 million and $75.6 million, respectively, were base management fees and performance-based incentive fees and $16.9 million and $50.2 million, respectively, were interest and other debt expenses. Administrative services and other general and administrative expenses totaled $4.0 million and $14.9 million, respectively, for the three and nine months ended December 31, 2011. Expenses totaled $44.2 million and $122.9 million, respectively, for the three and nine months ended December 31, 2010, of which $27.7 million and $80.1 million, respectively, were base management fees and performance-based incentive fees and $13.4 million and $34.1 million, respectively, were interest and other debt expenses. Administrative services and other general and administrative expenses totaled $3.0 million and $8.8 million, respectively, for the three and nine months ended December 31, 2010. Expenses consist of base investment advisory and management fees, insurance expenses, administrative services fees, legal fees, directors’ fees, audit and tax services expenses, and other general and administrative expenses. The increase in expenses from the December 2010 periods to the December 2011 periods was primarily due to an increase in interest expense as our average interest cost in the current periods is over 100 basis points higher than in the year ago periods and the average debt outstanding is roughly $150 million higher on a year over year basis. The increase in average interest cost resulted from the issuance of new tranches of long-term fixed rate debt in periods during and subsequent to the three and nine month periods ended December 31, 2010. In addition, in the nine month period ended December 31, 2011, the Company recognized approximately $4.0 million in net non-recurring expenses, including legal and other professional expenses of $4.7 million net of a non-recurring reduction of administrative expenses.
Net Investment Income
The Company’s net investment income totaled $38.5 million and $131.7 million, or $0.20 and $0.67, per average basic share, respectively, for the three and nine months ended December 31, 2011. The Company’s net investment income totaled $50.1 million and $141.1 million, or $0.26 and $0.73, per average basic share, respectively, for the three and nine months ended December 31, 2010.
Net Realized Losses
The Company had investment sales and prepayments totaling $175 million and $1.3 billion, respectively, for the three and nine months ended December 31, 2011. The Company had investment sales and prepayments totaling $481 million and $722 million, respectively, for the three and nine months ended December 31, 2010. Net realized losses for the three and nine months ended December 31, 2011 were $275.0 million and $341.1 million, respectively. For the three and nine months ended December 31, 2010, net realized losses totaled $64.9 million and $150.5 million, respectively. Net realized losses for the three and nine month periods ended December 31, 2011 were primarily derived from the exits of select investments, specifically Grand Prix Holdings, which accounted for $274 million of the realized loss totals, but also included Playpower Holdings, TL Acquisitions and FSC Holdings. The realized losses incurred upon the exit of these investments reversed out previously reported unrealized losses. Net realized losses for the three and nine months ended December 31, 2010 were primarily derived from selective exits and restructurings of underperforming investments.
Net Unrealized Appreciation (Depreciation) on Investments, Cash Equivalents and Foreign Currencies
For the three and nine months ended December 31, 2011, net change in unrealized appreciation on the Company’s investments, cash equivalents, foreign currencies and other assets and liabilities totaled $300.2 million and $5.9 million, respectively. For the three and nine months ended December 31, 2010, net change in unrealized appreciation on the Company’s investments, cash equivalents, foreign currencies and other assets and liabilities totaled $99.3 million and $77.7 million, respectively. For the three months ended December 31, 2011, the increase in unrealized appreciation was mainly derived from the reclassification of $274 million of previously recognized unrealized depreciation on our investment in Grand Prix Holdings to a realized loss. For the nine months ended December 31, 2011, the change in unrealized depreciation was comprised of the impact from Grand Prix Holdings together with the general decline in capital market conditions during the period. For the three and nine months ended December 31, 2010, net unrealized appreciation was impacted by net changes in specific portfolio company fundamentals and stronger capital market conditions.
Net Increase (Decrease) in Net Assets From Operations
For the three months ended December 31, 2011, the Company had a net increase in net assets resulting from operations of $63.7 million. For the nine months ended December 31, 2011, the Company had a net decrease in net assets resulting from operations of $203.5 million. For the three and nine months ended December 31, 2010, the Company had a net increase in net assets resulting from operations of $84.5 million and $68.4 million, respectively. For the three months ended December 31, 2011 basic and diluted earnings per average share were $0.32 and $0.31, respectively. For the nine months ended December 31, 2011, basic and diluted losses per average share were $1.04 and $1.04, respectively. The basic and diluted earnings per average share were $0.43 and $0.36 for the three and nine months ended December 31, 2010.
LIQUIDITY AND CAPITAL RESOURCES
The Company’s liquidity and capital resources are generated and generally available through periodic follow-on equity and debt offerings, our senior secured, multi-currency $1.254 billion revolving credit facility maturing on April 12, 2013 (see note 10 within the Notes to Financial Statements) (the “Facility”), our senior secured notes, investments in special purpose entities in which we hold and finance particular investments on a non-recourse basis, as well as from cash flows from operations, investment sales of liquid assets and prepayments of senior and subordinated loans and income earned from investments. The Company also has investments in its portfolio that contain PIK provisions. PIK investments offer issuers the option at each payment date of making payments in cash or in additional securities. When additional securities are received, they typically have the same terms, including maturity dates and interest rates as the original securities issued. On these payment dates, the Company capitalizes the accrued interest or dividends receivable (reflecting such amounts as the basis in the additional securities received). PIK generally becomes due at maturity of the investment or upon the investment being called by the issuer. In order to maintain the Company’s status as a RIC, this non-cash source of income must be paid out to stockholders annually in the form of dividends, even though the Company has not yet collected the cash. For the nine months ended December 31, 2011, accrued PIK totaled $13.1 million, on total investment income of $272.4 million. On April 13, 2011, $380 million of commitments on the Facility matured. At December 31, 2011, the Company had $743 million in borrowings outstanding on its Facility and $511 million of unused capacity. As of December 31, 2011, aggregate lender commitments under the Facility total $1.254 billion.
On May 3, 2010, the Company closed on its most recent follow-on public equity offering of 17.25 million shares of common stock at $12.40 per share raising approximately $204 million in net proceeds. In the future, the Company may raise additional equity or debt capital, among other considerations. The primary use of funds will be investments in portfolio companies, reductions in debt outstanding and other general corporate purposes, including the payment of interest, fees or distributions to shareholders.
On September 30, 2010, the Company entered into a note purchase agreement, providing for a private placement issuance of $225 million in aggregate principal amount of five-year, senior secured notes with a fixed interest rate of 6.25% and a maturity date of October 4, 2015 (the “Senior Secured Notes”). On October 4, 2010, the Senior Secured Notes were sold to certain institutional accredited investors pursuant to an exemption from registration under the Securities Act of 1933, as amended. Interest on the Senior Secured Notes will be due semi-annually on April 4 and October 4, commencing on April 4, 2011. The proceeds from the issuance of the Senior Secured Notes were primarily used to reduce other outstanding borrowings and/or commitments on the Company’s Facility.
On January 25, 2011, the Company closed a private offering of $200 million aggregate principal amount of senior unsecured convertible notes (the “Convertible Notes”). The Convertible Notes were issued in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The Convertible Notes bear interest at an annual rate of 5.75%, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2011. The Convertible Notes will mature on January 15, 2016 unless earlier converted or repurchased at the holder’s option. Prior to December 15, 2015, the Convertible Notes will be convertible only upon certain corporate reorganizations, dilutive recapitalizations or dividends, or if, during specified periods our shares trade at more than 130% of the then applicable conversion price or the Convertible Notes trade at less than 97% of their conversion value and, thereafter, at any time. The Convertible Notes will be convertible by the holders into shares of common stock, initially at a conversion rate of 72.7405 shares of the Company’s common stock per $1,000 principal amount of Convertible Notes (14,548,100 common shares) corresponding to an initial conversion price per share of approximately $13.75, which represents a premium of 17.5% to the $11.70 per share closing price of the Company’s common stock on The NASDAQ Global Select Market on January 19, 2011. The conversion rate will be subject to adjustment upon certain events, such as stock splits and combinations, mergers, spin-offs, increases in dividends in excess of $0.28 per share per quarter and certain changes in control. Certain of these adjustments, including adjustments for increases in dividends, are subject to a conversion price floor of $11.70 per share. The Convertible Notes are senior unsecured obligations and rank senior in right of payment to our existing and future indebtedness that is expressly subordinated in right of payment to the Convertible Notes; equal in right of payment to our existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of our secured indebtedness (including existing unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities.
On August 11, 2011, the Company adopted a plan for the purpose of repurchasing up to $200 million of its common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934. The Company’s plan was designed to allow it to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. A broker selected by the Company will have the authority under the terms and limitations specified in the plan to repurchase shares on the Company’s behalf in accordance with the terms of the plan. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the plan. While the portion of the plan reliant on Rule 10b-18 remains in effect, the portion reliant on Rule 10b5-1 is subject to periodic renewal and is not currently in effect. As of December 31, 2011, no shares have been repurchased.
On September 29, 2011, the Company closed a private offering of $45 million aggregate principal amount of senior secured notes (the “Notes”) consisting of two series: (1) 5.875% Senior Secured Notes, Series A, of the Company due September 29, 2016 in the aggregate principal amount of $29 million; and (2) 6.250% Senior Secured Notes, Series B, of the Company due September 29, 2018, in the aggregate principal amount of $16 million. The Notes were issued in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The net proceeds from the offering of Notes are intended to be used to fund new portfolio investments, reduce outstanding borrowings on the Company’s Facility and for general corporate purposes, including the payment of interest, fees or distributions to shareholders.
APOLLO INVESTMENT CORPORATION STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except per share amounts) December 31, 2011 (unaudited) March 31, 2011 ----------------- --------------- Assets Non-controlled/non-affiliated investments, at value (cost--$2,813,436 and $2,900,378, respectively) $ 2,577,312 $ 2,901,295 Non-controlled/affiliated investments, at value (cost--$0 and $22,407, respectively) -- 37,295 Controlled investments, at value (cost-- $221,639 and $376,051, respectively) 201,543 111,568 Cash -- 5,471 Foreign currency (cost--$632 and $881, respectively) 635 883 Receivable for investments sold 81,810 13,461 Interest receivable 60,505 45,686 Dividends receivable 13 5,131 Miscellaneous income receivable 1,216 -- Receivable from investment adviser -- 576 Prepaid expenses and other assets 19,902 27,447 ----------------- --------------- Total assets $ 2,942,936 $ 3,148,813 ----------------- --------------- Liabilities Debt $ 1,213,185 $ 1,053,443 Payable for investments purchased 25,000 37,382 Dividends payable 55,172 54,740 Management and performance-based incentive fees payable) 24,327 27,553 Interest payable 10,614 9,703 Accrued administrative expenses 2,502 1,738 Other liabilities and accrued expenses 2,665 3,223 Due to custodian 2,064 -- ----------------- --------------- Total liabilities $ 1,335,529 $ 1,187,782 ----------------- --------------- Net Assets Common stock, par value $.001 per share, 400,000 and 400,000 common shares authorized, respectively, and 197,043 and 195,502 issued and outstanding, respectively $ 197 $ 196 Paid-in capital in excess of par 2,886,449 2,871,559 Undistributed net investment income 23,271 56,557 Accumulated net realized loss (1,055,001) (713,873) Net unrealized depreciation (247,509) (253,408) ----------------- --------------- Total net assets $ 1,607,407 $ 1,961,031 ----------------- --------------- Total liabilities and net assets $ 2,942,936 $ 3,148,813 ----------------- --------------- Net Asset Value Per Share $ 8.16 $ 10.03 ----------------- --------------- APOLLO INVESTMENT CORPORATION STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share amounts) Three months ended Nine months ended -------------------------- -------------------------- December 31, December 31, December 31, December 31, 2011 2010 2011 2010 ------------ ------------ ------------ ------------ INVESTMENT INCOME: From non- controlled/non- affiliated investments: Interest $ 77,220 $ 83,820 $ 238,264 $ 233,166 Dividends 1,125 992 5,410 3,712 Other income 3,521 6,650 16,761 11,958 From non- controlled/ affiliated investments: Interest -- 2,746 899 9,088 From controlled investments: Interest 1,297 -- 2,565 -- Dividends 652 -- 8,489 6,031 Other income -- 110 -- 110 ------------ ------------ ------------ ------------ Total Investment Income $ 83,815 $ 94,318 $ 272,388 $ 264,065 ------------ ------------ ------------ ------------ EXPENSES: Management fees $ 14,693 $ 15,203 $ 46,171 $ 44,787 Performance-based incentive fees 9,634 12,532 29,398 35,284 Interest and other debt expenses 16,926 13,433 50,222 34,079 Administrative services expense 1,500 1,540 3,887 4,348 Other general and administrative expenses 2,524 1,484 10,978 4,432 ------------ ------------ ------------ ------------ Total expenses 45,277 44,192 140,656 122,930 ------------ ------------ ------------ ------------ Net investment income $ 38,538 $ 50,126 $ 131,732 $ 141,135 ------------ ------------ ------------ ------------ REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, CASH EQUIVALENTS AND FOREIGN CURRENCIES: Net realized gain (loss): Non-controlled/ non-affiliated investments and cash equivalents $ (1,746) $ (55,650) $ (85,208) $ (142,777) Non-controlled/ affiliated investments 167 -- 19,039 -- Controlled investments (274,452) -- (274,452) -- Foreign currencies 1,036 (9,289) (507) (7,673) ------------ ------------ ------------ ------------ Net realized loss (274,995) (64,939) (341,128) (150,450) ------------ ------------ ------------ ------------ Net change in unrealized gain (loss): Investments and cash equivalents 298,005 89,088 (7,464) 71,140 Foreign currencies 2,149 10,229 13,363 6,535 ------------ ------------ ------------ ------------ Net change in unrealized gain (loss) 300,154 99,317 5,899 77,675 ------------ ------------ ------------ ------------ Net realized and unrealized gain (loss) from investments, cash equivalents and foreign currencies 25,159 34,378 (335,229) (72,775) ------------ ------------ ------------ ------------ NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 63,697 $ 84,504 $ (203,497) $ 68,360 ------------ ------------ ------------ ------------ EARNINGS (LOSS) PER SHARE BASIC $ 0.32 $ 0.43 $ (1.04) $ 0.36 DILUTED $ 0.31 $ 0.43 $ (1.04) $ 0.36 ------------ ------------ ------------ ------------About Apollo Investment Corporation
Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company’s investment portfolio is principally in middle-market private companies. From time to time, the Company may also invest in public companies. The Company invests primarily in senior secured loans and mezzanine loans and equity in furtherance of its business plan. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Management, L.P., a leading private equity investor.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.
We may use words such as “anticipates,” “believes,” “expects,” “intends”, “will”, “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.
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2012年1月31日星期二
Wait for Greece-debt deal rattles global markets
NEW YORK — The wait for an expected deal between Greece and its creditors rattled financial markets around the world Monday. Yields for ultra-safe U.S. government debt hit their lowest this year, the euro dropped against the dollar, and European stocks took a fall.
But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, a drop of 0.1 percent. The Dow lost as much as 131 points in morning trading, then slowly recovered in the afternoon.
Borrowing costs for European countries with the heaviest debt burdens shot higher. The two-year interest rate for Portugal’s government debt jumped to 21 percent after trading around 14 percent last week.
Greece and the investors who bought its government bonds were said to be close to an agreement over the weekend. A tentative deal would replace bonds held by investment funds and banks with new ones at half the face value.
The plan is aimed at cutting Greece’s debt by roughly $132 billion. Greece needs it to secure a crucial installment of bailout loans and make an upcoming bond payment. But a deal has been in the works for weeks and could still fall apart.
The focus on Greece has shifted attention away from what’s going well in the U.S., said Jack Ablin, chief investment officer at Harris Private Bank. Companies have reported stronger quarterly earnings, and hiring has picked up.
“Our collective breath has been held for so many months,” he said.
At this point, a good or even a bad resolution of Greece’s debt crisis could lead to a stronger U.S. stock market, Ablin said. “If it finally happens and the world doesn’t fall apart, maybe we’ll have a reason to take risk again,” he said. “Once you pull off the Band-Aid, it feels better.”
U.S. Treasury yields sank to their lowest level this year.
In other trading, the Standard & Poor’s 500 index fell 3.32 points, or 0.3 percent, to 1,313.01. The Nasdaq composite lost 4.6 points, or 0.2 percent, to 2,811.94.
The euro dropped 0.5 percent against the dollar to $1.3124 in late trading Monday from $1.3208 late Friday. It was worth almost $1.50 in May.
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But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, a drop of 0.1 percent. The Dow lost as much as 131 points in morning trading, then slowly recovered in the afternoon.
Borrowing costs for European countries with the heaviest debt burdens shot higher. The two-year interest rate for Portugal’s government debt jumped to 21 percent after trading around 14 percent last week.
Greece and the investors who bought its government bonds were said to be close to an agreement over the weekend. A tentative deal would replace bonds held by investment funds and banks with new ones at half the face value.
The plan is aimed at cutting Greece’s debt by roughly $132 billion. Greece needs it to secure a crucial installment of bailout loans and make an upcoming bond payment. But a deal has been in the works for weeks and could still fall apart.
The focus on Greece has shifted attention away from what’s going well in the U.S., said Jack Ablin, chief investment officer at Harris Private Bank. Companies have reported stronger quarterly earnings, and hiring has picked up.
“Our collective breath has been held for so many months,” he said.
At this point, a good or even a bad resolution of Greece’s debt crisis could lead to a stronger U.S. stock market, Ablin said. “If it finally happens and the world doesn’t fall apart, maybe we’ll have a reason to take risk again,” he said. “Once you pull off the Band-Aid, it feels better.”
U.S. Treasury yields sank to their lowest level this year.
In other trading, the Standard & Poor’s 500 index fell 3.32 points, or 0.3 percent, to 1,313.01. The Nasdaq composite lost 4.6 points, or 0.2 percent, to 2,811.94.
The euro dropped 0.5 percent against the dollar to $1.3124 in late trading Monday from $1.3208 late Friday. It was worth almost $1.50 in May.
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2012年1月23日星期一
Regions Financial and Huntington Bancshares Look to Continue Strong Recovery
NEW YORK, NY–(Marketwire -01/23/12)- Regional Banks in the U.S. have performed strongly of late. According to a report from The Wall Street Journal regional banks benefitted from an improved lending climate in the fourth quarter as the national economy continues to gain strength. The Paragon Report examines investing opportunities in the Regional Banking Sector and provides equity research on Regions Financial Corporation (NYSE: RF – News) and Huntington Bancshares Inc. (NASDAQ: HBAN – News). Access to the full company reports can be found at:
www.paragonreport.com/RF
www.paragonreport.com/HBAN
Second Curve Capital LLC’s Thomas Brown explains that it is “much more easy” for smaller regional banks to control their business. Brown told Bloomberg that one of the key positives for banks in 2012, big and small, will be significant increases in common-stock dividends. The Federal Reserve explained that it will approve dividend increases and other capital distributions for banks that demonstrate sufficient financial strength to operate under stressed markets.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the regional banking sector register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
Last week, Huntington Bancshares Inc. said its fourth-quarter profit rose as the bank increased lending to businesses and set aside less money for problem loans. For the full year 2011, Huntington posted a profit attributable to common shareholders of $511.8 million, or 59 cents per share, compared with $140.3 million, or 19 cents per share, the year before. The company’s board also declared a quarterly cash dividend of 4 cents per share. The dividend will be paid on April 2 to shareholders of record as of March 19.
For 2012, Huntington Bancshares expects to see “modest improvement” in net interest income from its fourth-quarter level, according to its earnings statement.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer
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www.paragonreport.com/RF
www.paragonreport.com/HBAN
Second Curve Capital LLC’s Thomas Brown explains that it is “much more easy” for smaller regional banks to control their business. Brown told Bloomberg that one of the key positives for banks in 2012, big and small, will be significant increases in common-stock dividends. The Federal Reserve explained that it will approve dividend increases and other capital distributions for banks that demonstrate sufficient financial strength to operate under stressed markets.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the regional banking sector register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
Last week, Huntington Bancshares Inc. said its fourth-quarter profit rose as the bank increased lending to businesses and set aside less money for problem loans. For the full year 2011, Huntington posted a profit attributable to common shareholders of $511.8 million, or 59 cents per share, compared with $140.3 million, or 19 cents per share, the year before. The company’s board also declared a quarterly cash dividend of 4 cents per share. The dividend will be paid on April 2 to shareholders of record as of March 19.
For 2012, Huntington Bancshares expects to see “modest improvement” in net interest income from its fourth-quarter level, according to its earnings statement.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer
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Prospect Capital and Other Shareholders Enter Into Definitive Agreement to Sell NRG, With Prospect Expected to Receive …
NEW YORK, NY–(Marketwire -01/23/12)- Prospect Capital Corporation (NASDAQ: PSEC – News) (“Prospect”) announced today that Prospect and other third-party shareholders have executed a stock purchase agreement to sell their ownership interests in NRG Manufacturing Inc. (“NRG”), a leading manufacturer of oilfield equipment.
The transaction is subject to regulatory approval and is expected to close within the next 30 days. Such closing would also result in full repayment of Prospect’s loan to NRG.
Prospect expects to collect approximately $100 million in cash in the March 2012 quarter related to the sale of NRG. This $100 million would consist of approximately $30 million of investment income in the form of prepayment premium and structuring fee, with the remaining approximately $70 million related to debt repayment and equity proceeds. Additional amounts are expected to be escrowed for potential collection in future periods, resulting in potential incremental post-closing proceeds to Prospect of approximately $14 million. As a result, Prospect would receive a total of up to $114 million from the sale of NRG.
Prospect initially invested approximately $12 million of debt and equity in September 2006 to help finance the acquisition of NRG. Including all cash flows over the life of the investment, but not including escrowed amounts, Prospect expects to realize at closing on its combined debt and equity investment a 59% annualized internal rate of return.
With the expected sale of NRG, Prospect estimates it will have generated cumulative net investment income in excess of cumulative distributions to shareholders for both the current August 2012 tax year as well as since Prospect’s inception.
“Coming on the heels of the sale of Gas Solutions by our Energy Solutions portfolio company, Prospect’s sale of NRG adds another valuable realization to the Prospect Capital track record,” said M. Grier Eliasek, President of Prospect. “Our team is hard at work to invest our substantial liquidity. With our more than $1 billion of new originations in calendar year 2011, we have significant capability to invest such liquidity.”
“We applaud the managers of NRG, who have built the company into a premier supplier of mission-critical oilfield equipment,” said Bart J. deBie, a Managing Director of Prospect Capital Management. “Prospect is actively seeking new control and non-control investments across all industries.”
RBC Capital Markets is acting as financial advisor to NRG for the sale.
Separately, Prospect has provided $18.3 million of secured second-lien financing to a financial services processing company purchased by a leading private equity sponsor. Prospect has also invested $34.4 million in Class D senior secured notes and Class E subordinated notes for CIFC Funding 2011-I, Ltd., with third party first loss capital underneath Prospect’s position.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
We have elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to us could have an adverse effect on us and our shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.
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The transaction is subject to regulatory approval and is expected to close within the next 30 days. Such closing would also result in full repayment of Prospect’s loan to NRG.
Prospect expects to collect approximately $100 million in cash in the March 2012 quarter related to the sale of NRG. This $100 million would consist of approximately $30 million of investment income in the form of prepayment premium and structuring fee, with the remaining approximately $70 million related to debt repayment and equity proceeds. Additional amounts are expected to be escrowed for potential collection in future periods, resulting in potential incremental post-closing proceeds to Prospect of approximately $14 million. As a result, Prospect would receive a total of up to $114 million from the sale of NRG.
Prospect initially invested approximately $12 million of debt and equity in September 2006 to help finance the acquisition of NRG. Including all cash flows over the life of the investment, but not including escrowed amounts, Prospect expects to realize at closing on its combined debt and equity investment a 59% annualized internal rate of return.
With the expected sale of NRG, Prospect estimates it will have generated cumulative net investment income in excess of cumulative distributions to shareholders for both the current August 2012 tax year as well as since Prospect’s inception.
“Coming on the heels of the sale of Gas Solutions by our Energy Solutions portfolio company, Prospect’s sale of NRG adds another valuable realization to the Prospect Capital track record,” said M. Grier Eliasek, President of Prospect. “Our team is hard at work to invest our substantial liquidity. With our more than $1 billion of new originations in calendar year 2011, we have significant capability to invest such liquidity.”
“We applaud the managers of NRG, who have built the company into a premier supplier of mission-critical oilfield equipment,” said Bart J. deBie, a Managing Director of Prospect Capital Management. “Prospect is actively seeking new control and non-control investments across all industries.”
RBC Capital Markets is acting as financial advisor to NRG for the sale.
Separately, Prospect has provided $18.3 million of secured second-lien financing to a financial services processing company purchased by a leading private equity sponsor. Prospect has also invested $34.4 million in Class D senior secured notes and Class E subordinated notes for CIFC Funding 2011-I, Ltd., with third party first loss capital underneath Prospect’s position.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
We have elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to us could have an adverse effect on us and our shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.
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2012年1月19日星期四
AG Mortgage Investment Trust, Inc. Announces Public Offering of Common Stock
NEW YORK–(BUSINESS WIRE)– AG Mortgage Investment Trust, Inc. (NYSE: MITT – News) (the “Company”) announced today that it is commencing an underwritten public offering of 4,000,000 shares of common stock. MITT expects to grant the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock to cover overallotments.
The Company intends to use the net proceeds of the offering to make, as market conditions warrant, additional acquisitions of agency securities, non-agency residential mortgage-backed securities and other target assets, and for general corporate purposes.
Deutsche Bank Securities Inc., BofA Merrill Lynch and Stifel Nicolaus Weisel are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
The offering will be made solely by means of a prospectus, copies of which may be obtained, when available, from: Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com; BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attention: Prospectus Department, or by e-mail at dg.prospectus_requests@baml.com; or Stifel Nicolaus Weisel, One Montgomery Street, Suite 3700, San Francisco, California 94104, telephone: (415) 364-2720.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a real estate investment trust that invests in, acquires and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., an SEC-registered investment adviser that specializes in alternative investment activities. Please visit the Company’s website at www.agmortgageinvestmenttrust.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability and terms of financing, changes in the market value of our assets, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements, are included in the Company’s periodic reports filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. All written or oral forward-looking statements that the Company makes, or that are attributable to the Company, are expressly qualified by this cautionary notice. The Company expressly disclaims any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate
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The Company intends to use the net proceeds of the offering to make, as market conditions warrant, additional acquisitions of agency securities, non-agency residential mortgage-backed securities and other target assets, and for general corporate purposes.
Deutsche Bank Securities Inc., BofA Merrill Lynch and Stifel Nicolaus Weisel are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
The offering will be made solely by means of a prospectus, copies of which may be obtained, when available, from: Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com; BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attention: Prospectus Department, or by e-mail at dg.prospectus_requests@baml.com; or Stifel Nicolaus Weisel, One Montgomery Street, Suite 3700, San Francisco, California 94104, telephone: (415) 364-2720.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a real estate investment trust that invests in, acquires and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., an SEC-registered investment adviser that specializes in alternative investment activities. Please visit the Company’s website at www.agmortgageinvestmenttrust.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability and terms of financing, changes in the market value of our assets, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements, are included in the Company’s periodic reports filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. All written or oral forward-looking statements that the Company makes, or that are attributable to the Company, are expressly qualified by this cautionary notice. The Company expressly disclaims any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate
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2012年1月12日星期四
Saratoga Investment Corp. to Report Q3 2012 Financial Results and Hold Conference Call on Jan. 13, 2012
NEW YORK, Jan. 11, 2012 /PRNewswire/ – Saratoga Investment Corp. (NYSE: SAR), a business development company, will report its financial results for the quarter ended Nov. 30, 2011, on Friday, Jan. 13, 2012, at approximately 11:00 a.m. (ET). A conference call to discuss the financial results will be held on the same day. Details for the conference call are provided below.
About Saratoga Investment Corp.
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in mezzanine debt, leveraged loans and, to a lesser extent, equity. Saratoga Investment Corp.’s investment objective is to create attractive risk-adjusted returns by generating current income from its debt investments and capital appreciation from its equity investments. The Company partners with business owners, management teams and financial sponsors to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives. It has elected to be regulated as a business development company under the Investment Company Act of 1940.
About Saratoga Investment Advisors, LLC
Saratoga Investment Advisors, LLC is a New York-based investment firm formed to focus on credit-driven strategies. It is the external investment adviser to Saratoga Investment Corp. and is affiliated with Saratoga Partners, a middle-market private equity investment firm that primarily invests in businesses with strong management teams and valuations of between $50 million and $500 million. Saratoga Partners’ investment strategy focuses on companies in manufacturing and business services and it has significant experience in special situations and distressed investing.
Since Saratoga Partners was founded in 1984 as a division of the New York investment firm Dillon, Read & Co., Inc., it has invested in 35 companies with an aggregate value of more than $3.7 billion. It has been an independent firm since its spinoff in 1998 after Dillon Read was acquired by Swiss Bank Corporation (a predecessor to UBS AG).
SOURCE Saratoga Investment Corp.
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| Who: | Christian L. Oberbeck, Chief Executive Officer Richard A. Petrocelli, Chief Financial Officer | |||
| When: | Friday, Jan. 13, 2012 11:00 a.m. Eastern Time (ET) | |||
| How: | Call: Interested parties may participate by dialing (877) 312-9208 (U.S. and Canada) or (678) 224-7872 (outside U.S. and Canada). A replay of the call will be available from 2:00 p.m. ET on Friday, Jan. 13, 2012 through 11:59 p.m. ET on Wednesday, Jan. 18, 2012 by dialing (855) 859-2056 (U.S. and Canada) or (404) 537-3406 (outside U.S. and Canada), passcode for both replay numbers: 42061505. | |||
| Webcast: Interested parties may also access a simultaneous webcast of the call by going to http://ir.saratogainvestmentcorp.com/events.cfm. | ||||
| Information: | Saratoga Investment Corp.’s Form 10-Q for the quarter ended Nov. 30, 2011 will be filed on Jan. 12, 2012 with the Securities and Exchange Commission. | |||
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in mezzanine debt, leveraged loans and, to a lesser extent, equity. Saratoga Investment Corp.’s investment objective is to create attractive risk-adjusted returns by generating current income from its debt investments and capital appreciation from its equity investments. The Company partners with business owners, management teams and financial sponsors to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives. It has elected to be regulated as a business development company under the Investment Company Act of 1940.
About Saratoga Investment Advisors, LLC
Saratoga Investment Advisors, LLC is a New York-based investment firm formed to focus on credit-driven strategies. It is the external investment adviser to Saratoga Investment Corp. and is affiliated with Saratoga Partners, a middle-market private equity investment firm that primarily invests in businesses with strong management teams and valuations of between $50 million and $500 million. Saratoga Partners’ investment strategy focuses on companies in manufacturing and business services and it has significant experience in special situations and distressed investing.
Since Saratoga Partners was founded in 1984 as a division of the New York investment firm Dillon, Read & Co., Inc., it has invested in 35 companies with an aggregate value of more than $3.7 billion. It has been an independent firm since its spinoff in 1998 after Dillon Read was acquired by Swiss Bank Corporation (a predecessor to UBS AG).
| Contact: | Rich Petrocelli | |||||
| Saratoga Investment Corp. | ||||||
| 212-906-7800 | ||||||
| Roland Tomforde | ||||||
| Broadgate Consultants | ||||||
| 212-232-2222 | ||||||
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2012年1月4日星期三
Morgan Joseph TriArtisan Adds Two Managing Directors to Its Healthcare Investment Banking Group
NEW YORK–(BUSINESS WIRE)– Morgan Joseph TriArtisan LLC, the investment and merchant bank focused on middle market companies, today announced the addition of two new Managing Directors, John Cramer and Andy Sherman, to its Healthcare Investment Banking Group, reporting to Group Head Marc Cabrera.
Mr. Cramer, has over 15 years of experience working with companies in the Specialty Pharmaceuticals, Healthcare IT and Healthcare Services subsectors, including completed engagements for equity and debt financing, M&A and restructuring. Since 1996 he has completed over 115 transactions having an aggregate value in excess of $20 billion.
Mr. Sherman has over 17 years of M&A expertise with a focus on Healthcare Services, Specialty Pharmaceuticals and Medical Devices. He has completed over 90 transactions with an aggregate value in excess of $35 billion.
“The addition of John and Andy to our existing team bolsters our already strong presence in healthcare and underscores our firm’s commitment to continued growth,” said Mary Lou Malanoski, Morgan Joseph TriArtisan’s Vice Chair and Head of Investment Banking. “Their industry expertise, extensive relationships and diverse skills are a complement to our firm’s focus on providing differentiated, high-value services to the middle market. We believe Morgan Joseph TriArtisan is increasingly well positioned to serve this market with a solid core of professionals, and we are delighted to have John and Andy join our firm.
“Current conditions in the securities business provide us with the opportunity to add exceptionally qualified investment bankers like John and Andy, at a time when many of our competitors are reducing their staffs. Morgan Joseph TriArtisan is committed to continue building capabilities in our four core industry verticals in order to better serve our investment banking clients.”
Previously, Mr. Cramer spent nine years at Gleacher & Company covering Healthcare, where he successfully completed lead-managed initial public offerings and follow-on equity offerings, private placements of debt and equity, buy-side and sell-side M&A transactions and creditor and debtor-side restructurings. Earlier, he covered Healthcare IT and services at Robertson, Stephens & Company and was an associate at Dewey Ballantine LLP in New York City. He holds a Juris Doctor from The University of Michigan Law School and a BA from Albion College and Oxford University.
Prior to joining Morgan Joseph TriArtisan, Mr. Sherman was a senior member of the Healthcare Investment Banking Group at Madison Williams. From 2007 to 2009, Mr. Sherman worked in principal investing for KBL Healthcare Acquisition Corp. and Capitol Acquisition Corp., sourcing and executing transactions across various industries including healthcare services, specialty pharmaceuticals, and medical devices. From 2001 to 2007, Mr. Sherman was at Banc of America Securities where he was a Principal in Investment Banking. Earlier, Mr. Sherman worked at Montgomery Securities and James D. Wolfensohn, Inc. Mr. Sherman received a Masters of Business Administration with Distinction from Harvard Business School, a B.S. in Economics from the Wharton School of Business and a B.A. in International Relations from the University of Pennsylvania.
About Morgan Joseph TriArtisan LLC
Morgan Joseph TriArtisan LLC (www.mjta.com) is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing. The firm’s services include mergers, acquisitions and restructuring advice, in addition to private placements and public offerings of equity and debt, as well as research for institutional clients
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Mr. Cramer, has over 15 years of experience working with companies in the Specialty Pharmaceuticals, Healthcare IT and Healthcare Services subsectors, including completed engagements for equity and debt financing, M&A and restructuring. Since 1996 he has completed over 115 transactions having an aggregate value in excess of $20 billion.
Mr. Sherman has over 17 years of M&A expertise with a focus on Healthcare Services, Specialty Pharmaceuticals and Medical Devices. He has completed over 90 transactions with an aggregate value in excess of $35 billion.
“The addition of John and Andy to our existing team bolsters our already strong presence in healthcare and underscores our firm’s commitment to continued growth,” said Mary Lou Malanoski, Morgan Joseph TriArtisan’s Vice Chair and Head of Investment Banking. “Their industry expertise, extensive relationships and diverse skills are a complement to our firm’s focus on providing differentiated, high-value services to the middle market. We believe Morgan Joseph TriArtisan is increasingly well positioned to serve this market with a solid core of professionals, and we are delighted to have John and Andy join our firm.
“Current conditions in the securities business provide us with the opportunity to add exceptionally qualified investment bankers like John and Andy, at a time when many of our competitors are reducing their staffs. Morgan Joseph TriArtisan is committed to continue building capabilities in our four core industry verticals in order to better serve our investment banking clients.”
Previously, Mr. Cramer spent nine years at Gleacher & Company covering Healthcare, where he successfully completed lead-managed initial public offerings and follow-on equity offerings, private placements of debt and equity, buy-side and sell-side M&A transactions and creditor and debtor-side restructurings. Earlier, he covered Healthcare IT and services at Robertson, Stephens & Company and was an associate at Dewey Ballantine LLP in New York City. He holds a Juris Doctor from The University of Michigan Law School and a BA from Albion College and Oxford University.
Prior to joining Morgan Joseph TriArtisan, Mr. Sherman was a senior member of the Healthcare Investment Banking Group at Madison Williams. From 2007 to 2009, Mr. Sherman worked in principal investing for KBL Healthcare Acquisition Corp. and Capitol Acquisition Corp., sourcing and executing transactions across various industries including healthcare services, specialty pharmaceuticals, and medical devices. From 2001 to 2007, Mr. Sherman was at Banc of America Securities where he was a Principal in Investment Banking. Earlier, Mr. Sherman worked at Montgomery Securities and James D. Wolfensohn, Inc. Mr. Sherman received a Masters of Business Administration with Distinction from Harvard Business School, a B.S. in Economics from the Wharton School of Business and a B.A. in International Relations from the University of Pennsylvania.
About Morgan Joseph TriArtisan LLC
Morgan Joseph TriArtisan LLC (www.mjta.com) is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing. The firm’s services include mergers, acquisitions and restructuring advice, in addition to private placements and public offerings of equity and debt, as well as research for institutional clients
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2012年1月3日星期二
Bailout concerns mounting for federal housing agency
NEW YORK (CNNMoney) — Concerns are growing that the Federal Housing Administration will need to be bailed out by taxpayers.
The agency’s latest monthly outlook report revealed a spike in serious delinquencies for FHA-insured loans, posing a further threat to the agency’s already depleted cash reserves.
According to the report, the percentage of loans in the FHA’s portfolio with three missed payments or more rose to 9.3% in November, up from 8.4% in August.
“It’s highly likely that the FHA will need a taxpayer bailout over the next three to five years,” said Joseph Gyourko, a real estate professor at the University of Pennsylvania’s Wharton School and author of a report entitled “Is FHA the Next Big Housing Bailout?.”
In November, an independent audit of the FHA’s finances found that losses from mortgage defaults had depleted the agency’s reserve fund to 0.24%, or $2.6 billion, during fiscal 2011 — well below the Congressionally-mandated 2% level. (The ratio measures the net worth of the reserve fund compared with the value of the loans FHA has insured.) In 2006, the reserve fund stood at 7%.
At the time, the agency’s auditor warned that if home prices continued to drop, FHA could run through the remainder of its reserves, forcing it to either seek a bailout from the Treasury Department or further increase the premiums it charges borrowers. The FHA doesn’t issue mortgages, but instead insures lenders against defaults.
Such a bailout could cost billions: Guyourko argues that the FHA is so undercapitalized that it would need at least $50 billion, even if the housing markets don’t deteriorate further. But even by more conservative measures, the agency would need at least $20 billion to meet the capital requirements mandated by Congress.
In early December, the House Financial Services Committee grilled Shaun Donovan, the Secretary of the U.S. Department of Housing Urban Development, over the possibility of a bailout. Donovan blamed FHA’s financial woes on loans made before 2009 and said that loans issued in recent years were experiencing a “dramatic decline in the rate of early payment default.” As a result of these healthier loans, he said the reserve fund would be able to return to the required 2% level in 2014.
Yet, Wharton’s Gyourko argues that the FHA has underestimated the risk of these more recent loans. Many of the new serious delinquencies were from loans issued in 2009 and 2010 and he projects there will be many more defaults to come.
One reason is that many of the borrowers who took out FHA-backed mortgages during this time relied on the First-Time Homebuyer Tax Credit for down payments. A large percentage of these borrowers didn’t have enough cash for the small 3.5% down payment that FHA requires, let alone the money to make their ongoing mortgage payments, he said.
The FHA said that the vast majority of home buyers who claimed the tax credit used their own cash for down payments or borrowed from relatives and are therefore low risk.
Home prices will also play a key role in whether taxpayers will have to rescue the FHA, said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication.
“Given that most FHA loans are made with a 3.5% down payment, most are underwater within a year after price declines,” he said.
Many FHA borrowers are teetering on the edge of foreclosure and further housing price declines will push many of those over, exposing the agency to more losses. “I think there will have to be a bailout over the next couple of years,” said Cecala.
The FHA claims its total liquid assets are $400 million higher than a year ago and home prices would have to fall 4% to 5% before the agency would need a bailout. It said it has also recognized expected losses and planned for them by raising upfront insurance premiums to bolster its assets.
Still, that might be cutting it close. Home prices are projected to fall another 3% to 4% in 2012 before stabilizing, according to forecasting firm Fiserv.
For all the FHA’s problems, however, it has filled a great need over the past few years, said Cecala. Low-income and first-time home buyers have relied on FHA loans to finance their purchases. Without the backing of the FHA, fewer homes would have been sold and prices would be even lower.
“The housing market would be in far worse shape than it is,” he said
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The agency’s latest monthly outlook report revealed a spike in serious delinquencies for FHA-insured loans, posing a further threat to the agency’s already depleted cash reserves.
According to the report, the percentage of loans in the FHA’s portfolio with three missed payments or more rose to 9.3% in November, up from 8.4% in August.
“It’s highly likely that the FHA will need a taxpayer bailout over the next three to five years,” said Joseph Gyourko, a real estate professor at the University of Pennsylvania’s Wharton School and author of a report entitled “Is FHA the Next Big Housing Bailout?.”
In November, an independent audit of the FHA’s finances found that losses from mortgage defaults had depleted the agency’s reserve fund to 0.24%, or $2.6 billion, during fiscal 2011 — well below the Congressionally-mandated 2% level. (The ratio measures the net worth of the reserve fund compared with the value of the loans FHA has insured.) In 2006, the reserve fund stood at 7%.
At the time, the agency’s auditor warned that if home prices continued to drop, FHA could run through the remainder of its reserves, forcing it to either seek a bailout from the Treasury Department or further increase the premiums it charges borrowers. The FHA doesn’t issue mortgages, but instead insures lenders against defaults.
Such a bailout could cost billions: Guyourko argues that the FHA is so undercapitalized that it would need at least $50 billion, even if the housing markets don’t deteriorate further. But even by more conservative measures, the agency would need at least $20 billion to meet the capital requirements mandated by Congress.
In early December, the House Financial Services Committee grilled Shaun Donovan, the Secretary of the U.S. Department of Housing Urban Development, over the possibility of a bailout. Donovan blamed FHA’s financial woes on loans made before 2009 and said that loans issued in recent years were experiencing a “dramatic decline in the rate of early payment default.” As a result of these healthier loans, he said the reserve fund would be able to return to the required 2% level in 2014.
Yet, Wharton’s Gyourko argues that the FHA has underestimated the risk of these more recent loans. Many of the new serious delinquencies were from loans issued in 2009 and 2010 and he projects there will be many more defaults to come.
One reason is that many of the borrowers who took out FHA-backed mortgages during this time relied on the First-Time Homebuyer Tax Credit for down payments. A large percentage of these borrowers didn’t have enough cash for the small 3.5% down payment that FHA requires, let alone the money to make their ongoing mortgage payments, he said.
The FHA said that the vast majority of home buyers who claimed the tax credit used their own cash for down payments or borrowed from relatives and are therefore low risk.
Home prices will also play a key role in whether taxpayers will have to rescue the FHA, said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication.
“Given that most FHA loans are made with a 3.5% down payment, most are underwater within a year after price declines,” he said.
Many FHA borrowers are teetering on the edge of foreclosure and further housing price declines will push many of those over, exposing the agency to more losses. “I think there will have to be a bailout over the next couple of years,” said Cecala.
The FHA claims its total liquid assets are $400 million higher than a year ago and home prices would have to fall 4% to 5% before the agency would need a bailout. It said it has also recognized expected losses and planned for them by raising upfront insurance premiums to bolster its assets.
Still, that might be cutting it close. Home prices are projected to fall another 3% to 4% in 2012 before stabilizing, according to forecasting firm Fiserv.
For all the FHA’s problems, however, it has filled a great need over the past few years, said Cecala. Low-income and first-time home buyers have relied on FHA loans to finance their purchases. Without the backing of the FHA, fewer homes would have been sold and prices would be even lower.
“The housing market would be in far worse shape than it is,” he said
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2012年1月2日星期一
/ CORRECTION – W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY–(Marketwire -01/02/12)- In the news release, “W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey,” issued earlier today by W. P. Carey & Co. LLC (NYSE: WPC – News), we are advised by the company that the sixth paragraph should mention “Arizona State University” rather than “University of Arizona” as originally issued. Complete corrected text follows.
W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY — January 2, 2012 — W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to Arizona State University, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com/
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W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY — January 2, 2012 — W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to Arizona State University, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com/
http://tourism9.com/
W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY–(Marketwire -01/02/12)- W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to the University of Arizona, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1843415
http://tourism9.com/
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to the University of Arizona, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1843415
http://tourism9.com/
Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
NEW YORK , Dec. 29, 2011 /PRNewswire/ — Reportlinker.com announces that a new market research report is available in its catalogue:
Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
http://www.reportlinker.com/p0351327/Medical-Equipment-Monthly-Deals-Analysis—MA-and-Investment-Trends-December-2011.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_Equipment_and_Supply
Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
Summary
GlobalData’s “Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011″ report is an essential source of data and trend analysis on the mergers and acquisitions (M&As) and financings in the medical equipment industry. The report provides detailed information on M&As, equity/debt offerings, private equity, venture financing and partnership transactions registered in the medical equipment industry in Novemeber 2011. The report portrays detailed comparative data on the number of deals and their value in the last six months, subdivided by deal types, segments and geographies. Additionally, the report provides information on the top financial advisory firms in the medical equipment industry.
Data presented in this report is derived from GlobalData’s proprietary in-house Medical Equipment eTrack deals database and primary and secondary research.
Scope
- Analyze market trends for the medical equipment/medical devices market in the global arena
- Review of deal trends in anesthesia and respiratory devices, cardiovascular devices, dental devices, diabetes care devices, diagnostic imaging, drug delivery devices, endoscopy devices, ENT devices, healthcare IT, hospital supplies, in vitro diagnostics, nephrology and urology devices, neurology devices, opthalmic devices, patient monitoring, surgical equipment, and wound care management segments
- Analysis of M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships in the medical equipment market
- Summary of medical equipment deals globally in the last six months
- Information on the top deals that took place in the medical equipment market
- Geographies covered include – North America , Europe , Asia Pacific , South & Central America , and Middle East & Africa
- League Tables of financial advisors in M&A and equity/debt offerings. This includes key advisors such as Morgan Stanley, Credit Suisse, and Goldman Sachs
- Review the financial metrics, such as operating profit ratio, P/E ratio, and EV/EBITDA on mergers and acquisitions
Reasons to buy
- Enhance your decision making capability in a more rapid and time sensitive manner.
- Find out the major deal performing segments for investments in your industry.
- Evaluate the types of company divesting and acquiring assets and ways to raise capital in the market.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the medical equipment industry.
- Identify growth segments and opportunities in each region within the industry.
- Look for key financial advisors where you are planning to raise capital from the market or for acquisitions within the industry.
1 Table of contents
1 Table of contents 2
1.1 List of Tables 4
1.2 List of Figures 5
2 Medical Equipment, Global, Deal Summary 7
2.1 Medical Equipment, Global, Deals Analysis, November 2011 7
2.2 Medical Equipment, Global, Number of Deals by Type, November 2011 9
2.3 Medical Equipment, Global, Top Deals, November 2011 10
2.3.1 Becton, Dickinson Completes Public Offering Of Notes For $1.5 Billion 10
2.3.2 Zimmer Holdings Completes Public Offering Of Senior Notes For $550 Million 10
2.3.3 Bain Capital To Acquire Physio-Control From Medtronic For $487 Million 10
2.3.4 HMS Holdings To Acquire HealthDataInsights For $400 Million 11
2.3.5 JLL Partners To Acquire American Dental Partners For $398 Million 11
3 Medical Equipment, Global, Deal Summary, By Type 12
3.1 Medical Equipment, Global, Merger and Acquisition Deals, November 2011 12
3.2 Medical Equipment, Global, Equity Offering Deals, November 2011 13
3.3 Medical Equipment, Global, Debt Offering Deals, November 2011 14
3.4 Medical Equipment, Global, Private Equity and Venture Capital (PE/VC) Deals, November 2011 15
3.4.1 Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, November 2011 16
3.5 Medical Equipment, Global, Top Venture Financing Firms, June 2011-November 2011 17
3.6 Medical Equipment, Global, Top VC Backed Companies, June 2011-November 2011 18
3.7 Medical Equipment, Global, Partnership Deals, November 2011 19
4 Medical Equipment, Global, Deal Summary by Market 20
4.1 Medical Equipment, Global, In Vitro Diagnostic Deals, November 2011 20
4.1.1 In Vitro Diagnostics – Deals of the Month 21
4.2 Medical Equipment, Global, Healthcare IT, Deals, November 2011 22
4.2.1 Healthcare IT – Deals of the Month 23
4.3 Medical Equipment, Global, Orthopedic Devices, Deals, November 2011 24
4.3.1 Orthopedic Devices – Deals of the Month 25
4.4 Medical Equipment, Global, Diagnostic Imaging Devices, Deals, November 2011 26
4.4.1 Diagnostic Imaging Devices – Deals of the Month 27
4.5 Medical Equipment, Global, Drug Delivery Devices, Deals, November 2011 28
4.5.1 Drug Delivery Devices – Deal of the Month 29
4.6 Medical Equipment, Global, Surgical Equipment, Deals, November 2011 30
4.6.1 Surgical Equipment – Deals of the Month 31
4.7 Medical Equipment, Global, Cardiovascular Devices, Deals, November 2011 32
4.7.1 Cardiovascular Devices – Deals of the Month 33
4.8 Medical Equipment, Global, Diabetes Care Devices, Deals, November 2011 34
4.8.1 Diabetes Care Devices – Deal of the Month 35
4.9 Medical Equipment, Global, Hospital Supplies, Deals, November 2011 36
4.9.1 Hospital Supplies – Deal of the Month 36
4.10 Medical Equipment, Global, Dental Devices, Deals, November 2011 37
4.10.1 Dental Devices – Deal of the Month 37
4.11 Medical Equipment, Global, Ophthalmic Devices, Deals, November 2011 38
4.11.1 Ophthalmic Devices – Deal of the Month 39
4.12 Medical Equipment, Global, Anesthesia and Respiratory Device Deals, November 2011 40
4.12.1 Anesthesia and Respiratory Devices – Deal of the Month 41
4.13 Medical Equipment, Global, Patient Monitoring Devices, Deals, November 2011 42
4.13.1 Patient Monitoring Devices – Deal of the Month 42
4.14 Medical Equipment, Global, Wound Care Management, Deals, November 2011 43
4.14.1 Wound Care Management – Deal of the Month 44
4.15 Medical Equipment, Global, Nephrology and Urology Devices, Deals, November 2011 45
4.15.1 Nephrology and Urology Devices – Deal of the Month 45
4.16 Medical Equipment, Global, Endoscopy Devices, Deals, November 2011 46
4.16.1 Endoscopy Devices – Deal of the Month 46
4.17 Medical Equipment, Global, ENT Devices, Deals, November 2011 47
4.17.1 ENT Devices – Deal of the Month 47
4.18 Medical Equipment, Global, Neurology Devices, Deals, November 2011 48
4.18.1 Neurology Devices – Deals of the Month 48
5 Medical Equipment, Deal Summary by Geography 49
5.1 Medical Equipment, North America Region, Deals, November 2011 49
5.1.1 North America – Deals of the Month 50
5.2 Medical Equipment, Europe Region, Deals, November 2011 51
5.2.1 Europe – Deals of the Month 52
5.3 Medical Equipment, Asia Pacific , Deals, November 2011 53
5.3.1 Asia-Pacific – Deals of the Month 54
5.4 Medical Equipment, Rest of the World, Deals, November 2011 55
5.4.1 Rest of the World – Deals of the Month 56
6 Medical Equipment, Global, Top Financial Advisors 57
6.1 Medical Equipment, Global, Top Financial Advisors, Mergers and Acquisitions, June 2011-November 2011 57
6.2 Medical Equipment, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 58
6.3 Medical Equipment, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 59
7 Further Information 60
7.1 Methodology 60
7.2 About GlobalData 60
7.3 Contact Us 61
7.4 Disclosure information 61
7.5 Disclaimer 61
List of Tables
Table 1: Medical Equipment, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 8
Table 2: Medical Equipment, Global, Deals by Type, Deals (Number and %), November 2011 9
Table 3: Medical Equipment, Global, Top Deals, November 2011 10
Table 4: Medical Equipment, Global, M&A, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 12
Table 5: Medical Equipment, Global, Equity Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Table 6: Medical Equipment, Global, Debt Offering, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Table 7: Medical Equipment, Global, PE/VC, Deals Summary, Number of Deals and Deal Value (US$m), June 2011-November 2011 15
Table 8: Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, Number Of Deals and Deal Values (%), November 2011 16
Table 9: Medical Equipment, Global, Top Venture Financing Firms, Number of Deals and Deal Value (US$m), June 2011-November 2011 17
Table 10: Medical Equipment, Global, Top VC Backed Companies, June 2011-November 2011 18
Table 11: Medical Equipment, Global, Partnerships, Deals Summary, June 2011-November 2011 19
Table 12: Medical Equipment, Global, In vitro Diagnostics, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 20
Table 13: Medical Equipment, Global, Healthcare IT, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Table 14: Medical Equipment, Global, Orthopedic Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 24
Table 15: Medical Equipment, Global, Diagnostic Imaging Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Table 16: Medical Equipment, Global, Drug Delivery Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 28
Table 17: Medical Equipment, Global, Surgical Equipment, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 30
Table 18: Medical Equipment, Global, Cardiovascular Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 32
Table 19: Medical Equipment, Global, Diabetes Care Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Table 20: Medical Equipment, Global, Hospital Supplies, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 36
Table 21: Medical Equipment, Global, Dental Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Table 22: Medical Equipment, Global, Ophthalmic Devices, Deal Summary, Number of Deals and Deal Values (US$mf), June 2011-November 2011 38
Table 23: Medical Equipment, Global, Anesthesia and Respiratory Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Table 24: Medical Equipment, Global, Patient Monitoring Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 42
Table 25: Medical Equipment, Global, Wound Care Management, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 43
Table 26: Medical Equipment, Global, Nephrology and Urology Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 45
Table 27: Medical Equipment, Global, Endoscopy Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 46
Table 28: Medical Equipment, Global, ENT Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 47
Table 29: Medical Equipment, Global, Neurology Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 48
Table 30: Medical Equipment, North America , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 49
Table 31: Medical Equipment, Europe , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 51
Table 32: Medical Equipment, Asia-Pacific , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 53
Table 33: Medical Equipment, Rest of the World, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 55
Table 34: Medical Equipment, Global, Top Financial Advisors, M&A, Number of Deals and Deal Values (US$m), June 2011-November 2011 57
Table 35: Medical Equipment, Global, Top Financial Advisors, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 58
Table 36: Medical Equipment, Global, Top Financial Advisors, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 59
List of Figures
Figure 1: Medical Equipment, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 7
Figure 2: Medical Equipment, Global, Number of Deals by Type (%), November 2011 9
Figure 3: Medical Equipment, Global, Mergers and Acquisitions, Number of Deals and Deal Values (US$m), June 2011-November 2011 12
Figure 4: Medical Equipment, Global, Equity Offering Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Figure 5: Medical Equipment, Global, Debt Offering Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Figure 6: Medical Equipment, Global, Private Equity and Venture Capital, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Figure 7: Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, Number Of Deals (%) and Deal Values (%), November 2011 16
Figure 8: Medical Equipment, Global, Top Venture Financing Firms, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Figure 9: Medical Equipment, Global, Partnership Deals, June 2011-November 2011 19
Figure 10: Medical Equipment, Global, In vitro Diagnostics, Number of Deals and Deal Values (US$m), June 2011-November 2011 20
Figure 11: Medical Equipment, Global, Healthcare IT, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Figure 12: Medical Equipment, Global, Orthopedic Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 24
Figure 13: Medical Equipment, Global, Diagnostic Imaging Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Figure 14: Medical Equipment, Global, Drug Delivery Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 28
Figure 15: Medical Equipment, Global, Surgical Equipment, Number of Deals and Deal Values (US$m), June 2011-November 2011 30
Figure 16: Medical Equipment, Global, Cardiovascular Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 32
Figure 17: Medical Equipment, Global, Diabetes Care Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Figure 18: Medical Equipment, Global, Hospital Supplies, Number of Deals and Deal Values (US$m), June 2011-November 2011 36
Figure 19: Medical Equipment, Global, Dental Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Figure 20: Medical Equipment, Global, Ophthalmic Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 38
Figure 21: Medical Equipment, Global, Anesthesia and Respiratory Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Figure 22: Medical Equipment, Global, Patient Monitoring Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 42
Figure 23: Medical Equipment, Global, Wound Care Management, Number of Deals and Deal Values (US$m), June 2011-November 2011 43
Figure 24: Medical Equipment, Global, Nephrology and Urology, Number of Deals and Deal Values (US$m), June 2011-November 2011 45
Figure 25: Medical Equipment, North America , Number of Deals and Deal Values (US$m), June 2011-November 2011 49
Figure 26: Medical Equipment, Europe , Number of Deals and Deal Values (US$m), June 2011-November 2011 51
Figure 27: Medical Equipment, Asia Pacific , Number of Deals and Deal Values (US$m), June 2011-November 2011 53
Figure 28: Medical Equipment, Rest of the World, Number of Deals and Deal Values (US$m), June 2011-November 2011 55
Figure 29: Medical Equipment, Global, Top Financial Advisors, Mergers And Acquisitions, Number of Deals and Deal Values (US$m), June 2011-November 2011 57
Figure 30: Medical Equipment, Global, Top Financial Advisors, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 58
Figure 31: Medical Equipment, Global, Top Financial Advisors, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 59
Companies mentioned
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Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
http://www.reportlinker.com/p0351327/Medical-Equipment-Monthly-Deals-Analysis—MA-and-Investment-Trends-December-2011.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_Equipment_and_Supply
Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
Summary
GlobalData’s “Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011″ report is an essential source of data and trend analysis on the mergers and acquisitions (M&As) and financings in the medical equipment industry. The report provides detailed information on M&As, equity/debt offerings, private equity, venture financing and partnership transactions registered in the medical equipment industry in Novemeber 2011. The report portrays detailed comparative data on the number of deals and their value in the last six months, subdivided by deal types, segments and geographies. Additionally, the report provides information on the top financial advisory firms in the medical equipment industry.
Data presented in this report is derived from GlobalData’s proprietary in-house Medical Equipment eTrack deals database and primary and secondary research.
Scope
- Analyze market trends for the medical equipment/medical devices market in the global arena
- Review of deal trends in anesthesia and respiratory devices, cardiovascular devices, dental devices, diabetes care devices, diagnostic imaging, drug delivery devices, endoscopy devices, ENT devices, healthcare IT, hospital supplies, in vitro diagnostics, nephrology and urology devices, neurology devices, opthalmic devices, patient monitoring, surgical equipment, and wound care management segments
- Analysis of M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships in the medical equipment market
- Summary of medical equipment deals globally in the last six months
- Information on the top deals that took place in the medical equipment market
- Geographies covered include – North America , Europe , Asia Pacific , South & Central America , and Middle East & Africa
- League Tables of financial advisors in M&A and equity/debt offerings. This includes key advisors such as Morgan Stanley, Credit Suisse, and Goldman Sachs
- Review the financial metrics, such as operating profit ratio, P/E ratio, and EV/EBITDA on mergers and acquisitions
Reasons to buy
- Enhance your decision making capability in a more rapid and time sensitive manner.
- Find out the major deal performing segments for investments in your industry.
- Evaluate the types of company divesting and acquiring assets and ways to raise capital in the market.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the medical equipment industry.
- Identify growth segments and opportunities in each region within the industry.
- Look for key financial advisors where you are planning to raise capital from the market or for acquisitions within the industry.
1 Table of contents
1 Table of contents 2
1.1 List of Tables 4
1.2 List of Figures 5
2 Medical Equipment, Global, Deal Summary 7
2.1 Medical Equipment, Global, Deals Analysis, November 2011 7
2.2 Medical Equipment, Global, Number of Deals by Type, November 2011 9
2.3 Medical Equipment, Global, Top Deals, November 2011 10
2.3.1 Becton, Dickinson Completes Public Offering Of Notes For $1.5 Billion 10
2.3.2 Zimmer Holdings Completes Public Offering Of Senior Notes For $550 Million 10
2.3.3 Bain Capital To Acquire Physio-Control From Medtronic For $487 Million 10
2.3.4 HMS Holdings To Acquire HealthDataInsights For $400 Million 11
2.3.5 JLL Partners To Acquire American Dental Partners For $398 Million 11
3 Medical Equipment, Global, Deal Summary, By Type 12
3.1 Medical Equipment, Global, Merger and Acquisition Deals, November 2011 12
3.2 Medical Equipment, Global, Equity Offering Deals, November 2011 13
3.3 Medical Equipment, Global, Debt Offering Deals, November 2011 14
3.4 Medical Equipment, Global, Private Equity and Venture Capital (PE/VC) Deals, November 2011 15
3.4.1 Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, November 2011 16
3.5 Medical Equipment, Global, Top Venture Financing Firms, June 2011-November 2011 17
3.6 Medical Equipment, Global, Top VC Backed Companies, June 2011-November 2011 18
3.7 Medical Equipment, Global, Partnership Deals, November 2011 19
4 Medical Equipment, Global, Deal Summary by Market 20
4.1 Medical Equipment, Global, In Vitro Diagnostic Deals, November 2011 20
4.1.1 In Vitro Diagnostics – Deals of the Month 21
4.2 Medical Equipment, Global, Healthcare IT, Deals, November 2011 22
4.2.1 Healthcare IT – Deals of the Month 23
4.3 Medical Equipment, Global, Orthopedic Devices, Deals, November 2011 24
4.3.1 Orthopedic Devices – Deals of the Month 25
4.4 Medical Equipment, Global, Diagnostic Imaging Devices, Deals, November 2011 26
4.4.1 Diagnostic Imaging Devices – Deals of the Month 27
4.5 Medical Equipment, Global, Drug Delivery Devices, Deals, November 2011 28
4.5.1 Drug Delivery Devices – Deal of the Month 29
4.6 Medical Equipment, Global, Surgical Equipment, Deals, November 2011 30
4.6.1 Surgical Equipment – Deals of the Month 31
4.7 Medical Equipment, Global, Cardiovascular Devices, Deals, November 2011 32
4.7.1 Cardiovascular Devices – Deals of the Month 33
4.8 Medical Equipment, Global, Diabetes Care Devices, Deals, November 2011 34
4.8.1 Diabetes Care Devices – Deal of the Month 35
4.9 Medical Equipment, Global, Hospital Supplies, Deals, November 2011 36
4.9.1 Hospital Supplies – Deal of the Month 36
4.10 Medical Equipment, Global, Dental Devices, Deals, November 2011 37
4.10.1 Dental Devices – Deal of the Month 37
4.11 Medical Equipment, Global, Ophthalmic Devices, Deals, November 2011 38
4.11.1 Ophthalmic Devices – Deal of the Month 39
4.12 Medical Equipment, Global, Anesthesia and Respiratory Device Deals, November 2011 40
4.12.1 Anesthesia and Respiratory Devices – Deal of the Month 41
4.13 Medical Equipment, Global, Patient Monitoring Devices, Deals, November 2011 42
4.13.1 Patient Monitoring Devices – Deal of the Month 42
4.14 Medical Equipment, Global, Wound Care Management, Deals, November 2011 43
4.14.1 Wound Care Management – Deal of the Month 44
4.15 Medical Equipment, Global, Nephrology and Urology Devices, Deals, November 2011 45
4.15.1 Nephrology and Urology Devices – Deal of the Month 45
4.16 Medical Equipment, Global, Endoscopy Devices, Deals, November 2011 46
4.16.1 Endoscopy Devices – Deal of the Month 46
4.17 Medical Equipment, Global, ENT Devices, Deals, November 2011 47
4.17.1 ENT Devices – Deal of the Month 47
4.18 Medical Equipment, Global, Neurology Devices, Deals, November 2011 48
4.18.1 Neurology Devices – Deals of the Month 48
5 Medical Equipment, Deal Summary by Geography 49
5.1 Medical Equipment, North America Region, Deals, November 2011 49
5.1.1 North America – Deals of the Month 50
5.2 Medical Equipment, Europe Region, Deals, November 2011 51
5.2.1 Europe – Deals of the Month 52
5.3 Medical Equipment, Asia Pacific , Deals, November 2011 53
5.3.1 Asia-Pacific – Deals of the Month 54
5.4 Medical Equipment, Rest of the World, Deals, November 2011 55
5.4.1 Rest of the World – Deals of the Month 56
6 Medical Equipment, Global, Top Financial Advisors 57
6.1 Medical Equipment, Global, Top Financial Advisors, Mergers and Acquisitions, June 2011-November 2011 57
6.2 Medical Equipment, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 58
6.3 Medical Equipment, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 59
7 Further Information 60
7.1 Methodology 60
7.2 About GlobalData 60
7.3 Contact Us 61
7.4 Disclosure information 61
7.5 Disclaimer 61
List of Tables
Table 1: Medical Equipment, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 8
Table 2: Medical Equipment, Global, Deals by Type, Deals (Number and %), November 2011 9
Table 3: Medical Equipment, Global, Top Deals, November 2011 10
Table 4: Medical Equipment, Global, M&A, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 12
Table 5: Medical Equipment, Global, Equity Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Table 6: Medical Equipment, Global, Debt Offering, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Table 7: Medical Equipment, Global, PE/VC, Deals Summary, Number of Deals and Deal Value (US$m), June 2011-November 2011 15
Table 8: Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, Number Of Deals and Deal Values (%), November 2011 16
Table 9: Medical Equipment, Global, Top Venture Financing Firms, Number of Deals and Deal Value (US$m), June 2011-November 2011 17
Table 10: Medical Equipment, Global, Top VC Backed Companies, June 2011-November 2011 18
Table 11: Medical Equipment, Global, Partnerships, Deals Summary, June 2011-November 2011 19
Table 12: Medical Equipment, Global, In vitro Diagnostics, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 20
Table 13: Medical Equipment, Global, Healthcare IT, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Table 14: Medical Equipment, Global, Orthopedic Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 24
Table 15: Medical Equipment, Global, Diagnostic Imaging Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Table 16: Medical Equipment, Global, Drug Delivery Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 28
Table 17: Medical Equipment, Global, Surgical Equipment, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 30
Table 18: Medical Equipment, Global, Cardiovascular Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 32
Table 19: Medical Equipment, Global, Diabetes Care Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Table 20: Medical Equipment, Global, Hospital Supplies, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 36
Table 21: Medical Equipment, Global, Dental Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Table 22: Medical Equipment, Global, Ophthalmic Devices, Deal Summary, Number of Deals and Deal Values (US$mf), June 2011-November 2011 38
Table 23: Medical Equipment, Global, Anesthesia and Respiratory Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Table 24: Medical Equipment, Global, Patient Monitoring Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 42
Table 25: Medical Equipment, Global, Wound Care Management, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 43
Table 26: Medical Equipment, Global, Nephrology and Urology Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 45
Table 27: Medical Equipment, Global, Endoscopy Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 46
Table 28: Medical Equipment, Global, ENT Devices, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 47
Table 29: Medical Equipment, Global, Neurology Devices, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 48
Table 30: Medical Equipment, North America , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 49
Table 31: Medical Equipment, Europe , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 51
Table 32: Medical Equipment, Asia-Pacific , Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 53
Table 33: Medical Equipment, Rest of the World, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 55
Table 34: Medical Equipment, Global, Top Financial Advisors, M&A, Number of Deals and Deal Values (US$m), June 2011-November 2011 57
Table 35: Medical Equipment, Global, Top Financial Advisors, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 58
Table 36: Medical Equipment, Global, Top Financial Advisors, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 59
List of Figures
Figure 1: Medical Equipment, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 7
Figure 2: Medical Equipment, Global, Number of Deals by Type (%), November 2011 9
Figure 3: Medical Equipment, Global, Mergers and Acquisitions, Number of Deals and Deal Values (US$m), June 2011-November 2011 12
Figure 4: Medical Equipment, Global, Equity Offering Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Figure 5: Medical Equipment, Global, Debt Offering Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Figure 6: Medical Equipment, Global, Private Equity and Venture Capital, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Figure 7: Medical Equipment, Global, Venture Capital Deals, by Stage of Financing, Number Of Deals (%) and Deal Values (%), November 2011 16
Figure 8: Medical Equipment, Global, Top Venture Financing Firms, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Figure 9: Medical Equipment, Global, Partnership Deals, June 2011-November 2011 19
Figure 10: Medical Equipment, Global, In vitro Diagnostics, Number of Deals and Deal Values (US$m), June 2011-November 2011 20
Figure 11: Medical Equipment, Global, Healthcare IT, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Figure 12: Medical Equipment, Global, Orthopedic Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 24
Figure 13: Medical Equipment, Global, Diagnostic Imaging Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Figure 14: Medical Equipment, Global, Drug Delivery Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 28
Figure 15: Medical Equipment, Global, Surgical Equipment, Number of Deals and Deal Values (US$m), June 2011-November 2011 30
Figure 16: Medical Equipment, Global, Cardiovascular Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 32
Figure 17: Medical Equipment, Global, Diabetes Care Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Figure 18: Medical Equipment, Global, Hospital Supplies, Number of Deals and Deal Values (US$m), June 2011-November 2011 36
Figure 19: Medical Equipment, Global, Dental Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Figure 20: Medical Equipment, Global, Ophthalmic Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 38
Figure 21: Medical Equipment, Global, Anesthesia and Respiratory Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Figure 22: Medical Equipment, Global, Patient Monitoring Devices, Number of Deals and Deal Values (US$m), June 2011-November 2011 42
Figure 23: Medical Equipment, Global, Wound Care Management, Number of Deals and Deal Values (US$m), June 2011-November 2011 43
Figure 24: Medical Equipment, Global, Nephrology and Urology, Number of Deals and Deal Values (US$m), June 2011-November 2011 45
Figure 25: Medical Equipment, North America , Number of Deals and Deal Values (US$m), June 2011-November 2011 49
Figure 26: Medical Equipment, Europe , Number of Deals and Deal Values (US$m), June 2011-November 2011 51
Figure 27: Medical Equipment, Asia Pacific , Number of Deals and Deal Values (US$m), June 2011-November 2011 53
Figure 28: Medical Equipment, Rest of the World, Number of Deals and Deal Values (US$m), June 2011-November 2011 55
Figure 29: Medical Equipment, Global, Top Financial Advisors, Mergers And Acquisitions, Number of Deals and Deal Values (US$m), June 2011-November 2011 57
Figure 30: Medical Equipment, Global, Top Financial Advisors, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 58
Figure 31: Medical Equipment, Global, Top Financial Advisors, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 59
Companies mentioned
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Medical Equipment and Supply Industry: Medical Equipment Monthly Deals Analysis – M&A and Investment Trends, December 2011
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CONTACT:
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Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
NEW YORK , Dec. 28, 2011 /PRNewswire/ — Reportlinker.com announces that a new market research report is available in its catalogue:
Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
http://www.reportlinker.com/p0351293/Oil-and-Gas-Monthly-Deals-Analysis—MA-and-Investment-Trends-December-2011.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Oil_and_Gas_energy
Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
Summary
GlobalData’s “Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011″ report is an essential source of data and trend analysis on the mergers and acquisitions (M&As) and financings in the oil and gas industry. The report provides detailed information on M&As, equity/debt offerings, private equity, venture financing and partnership transactions registered in the oil and gas industry in Novmeber 2011. The report portrays detailed comparative data on the number of deals and their value in the last six months, subdivided by deal types, segments and geographies. Additionally, the report provides information on the top financial advisory firms in the oil and gas industry.
Data presented in this report is derived from GlobalData’s proprietary in-house Energy eTrack deals database and primary and secondary research.
Scope
- Analyze market trends for the oil and gas industry in the global arena
- Review of deal trends in upstream, midstream, downstream, and equipment & services segments
- Analysis of M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships in the oil and gas industry
- Summary of oil and gas deals globally in the last six months
- Information on the top deals that took place in the industry
- Geographies covered include – North America , Europe , Asia Pacific , South & Central America , and Middle East & Africa
- League Tables of financial advisors in M&A and equity/debt offerings. This includes key advisors such as Morgan Stanley, Credit Suisse, and Goldman Sachs
Reasons to buy
- Enhance your decision making capability in a more rapid and time sensitive manner.
- Find out the major deal performing segments for investments in your industry.
- Evaluate the types of company divesting and acquiring assets and ways to raise capital in the market.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the oil and gas industry.
- Identify growth segments and opportunities in each region within the industry.
- Look for key financial advisors where you are planning to raise capital from the market or for acquisitions within the industry.
1 Table of contents
1 Table of contents 2
1.1 List of Tables 3
1.2 List of Figures 4
2 Oil and Gas Industry, Global, Deals Summary 5
2.1 Oil and Gas Industry, Global, Deal Analysis, November 2011 5
2.2 Oil and Gas Industry, Global, Number of Deals by Type, November 2011 7
2.3 Oil and Gas Industry, Global, Top Deals, November 2011 8
2.3.1 KKR, Crestview Partners, NGP Energy Capital And ITOCHU To Acquire Samson Investment For $7.2 Billion 8
2.3.2 Petrogal Brasil to Issue New Shares To Sinopec For $4.8 Billion 9
2.3.3 Chesapeake Energy And EnerVest To Sell 25% Stake In 650,000 Net Acres Of Utica Shale Play For $2.44 Billion 9
2.3.4 Centrica To Acquire Oil And Gas Assets In Norway North Sea From Statoil Petroleum For $1.63 Billion 9
2.3.5 BG Group Announces Public Offering Of 3% Bonds Due 2018 For $1.38 Billion 10
2.4 Oil and Gas Industry, Global, Rumored Deals, November 2011 10
2.4.1 RWE To Sell Oil & Gas Assets In Egypt For Up To $3 Billion 10
2.4.2 Reliance Industries Plans Public Offering Of Bonds For $1 Billion 10
2.4.3 Marathon Oil Plans To Sell 10% Interest In Block 32 In Angola For $800 Million 10
3 Oil and Gas Industry, Global, Deals Summary, by Type 11
3.1 Oil and Gas Industry, Global, Asset Transactions, November 2011 11
3.2 Oil and Gas Industry, Global, Mergers and Acquisitions, November 2011 13
3.3 Oil and Gas Industry, Global, Equity Offerings, November 2011 15
3.4 Oil and Gas Industry, Global, Debt Offerings, November 2011 17
3.5 Oil and Gas Industry, Global, Private Equity/Venture Capital Deals, November 2011 19
3.6 Oil and Gas Industry, Global, Partnership Deals, November 2011 20
3.7 Partnership Deals in November 2011 21
4 Oil and Gas Industry, Global, Deals Summary, by Sector 22
4.1 Upstream Oil and Gas Deals, Global, November 2011 22
4.1.1 Upstream Energy – Deals of the Month 23
4.1.2 Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
4.2 Midstream Oil and Gas Deals, Global, November 2011 26
4.2.1 Midstream Energy – Deals of the Month 27
4.3 Downstream Oil and Gas Deals, Global, November 2011 29
4.3.1 Downstream Energy – Deals of the Month 30
4.4 Oil and Gas Deals, Global, Equipment and Services, November 2011 31
4.4.1 Equipment and Services – Deals of the Month 32
5 Oil and Gas Industry, Deals Summary, by Geography 33
5.1 Oil and Gas Deals, North America , November 2011 33
5.1.1 North America – Deals of the Month 34
5.1.2 North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
5.2 Oil and Gas Deals, Europe , November 2011 37
5.2.1 Europe – Deals of the Month 38
5.3 Oil and Gas Deals, Asia-Pacific , November 2011 39
5.3.1 Asia-Pacific – Deals of the Month 40
5.4 Oil and Gas Deals, Rest of the World, November 2011 41
5.4.1 Rest of the World – Deals of the Month 42
6 Oil and Gas Industry, Global, Top Advisors 43
6.1 Oil and Gas Industry, Global, Top Financial Advisors, Mergers and Acquisitions, June 2011-November 2011 43
6.2 Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
6.3 Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
7 Further Information 46
7.1 Methodology 46
7.2 About GlobalData 46
7.3 Contact Us 47
7.4 Disclosure information 47
7.5 Disclaimer 47
List of Tables
Table 1: Oil and Gas Industry, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 6
Table 2: Oil and Gas Industry, Global, Deals by Type, Number and %, November 2011 7
Table 3: Oil and Gas Industry, Global, Top Deals, November 2011 8
Table 4: Oil and Gas Industry, Global, Asset Transactions, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 11
Table 5: Oil and Gas Industry, Global, Top Asset Transactions, November 2011 12
Table 6: Oil and Gas Industry, Global, M&A Deals, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Table 7: Oil and Gas Industry, Global, Top M&A Deals, November 2011 14
Table 8: Oil and Gas Industry, Global, Equity Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Table 9: Oil and Gas Industry, Global, Top Equity Offerings, November 2011 16
Table 10: Oil and Gas Industry, Global, Debt Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Table 11: Oil and Gas Industry, Global, Top Debt Offerings, November 2011 18
Table 12: Oil and Gas Industry, Global, Private Equity and Venture Capital, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 19
Table 13: Oil and Gas Industry, Global, Partnerships, Number of Deals, June 2011-November 2011 20
Table 14: Upstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 23
Table 15: Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
Table 16: Midstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 27
Table 17: Downstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 29
Table 18: Oil and Gas, Global, Equipment and Services, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 31
Table 19: Oil and Gas Industry, North America , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Table 20: North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
Table 21: Oil and Gas Industry, Europe , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 38
Table 22: Oil and Gas Industry, Asia-Pacific , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Table 23: Oil and Gas Industry, Rest of the World, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 41
Table 24: Oil and Gas Industry, Global, Top Financial Advisors, M&A, June 2011-November 2011 43
Table 25: Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
Table 26: Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
List of Figures
Figure 1: Oil and Gas Industry, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 5
Figure 2: Oil and Gas Industry, Global, Number of Deals by Type (%), November 2011 7
Figure 3: Oil and Gas Industry, Global, Asset Transactions, Number of Deals and Deal Values (US$m), June 2011-November 2011 11
Figure 4: Oil and Gas Industry, Global, M&A Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Figure 5: Oil and Gas Industry, Global, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Figure 6: Oil and Gas Industry, Global, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Figure 7: Oil and Gas Industry, Global, Private Equity/Venture Capital, Number of Deals and Deal Values (US$m), June 2011-November 2011 19
Figure 8: Oil and Gas Industry, Global, Partnerships, Number of Deals, June 2011-November 2011 20
Figure 9: Upstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Figure 10: Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
Figure 11: Midstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Figure 12: Downstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 29
Figure 13: Oil and Gas, Global, Equipment and Services, Number of Deals and Deal Values (US$m), June 2011-November 2011 31
Figure 14: Oil and Gas Industry, North America , Number of Deals and Deal Values (US$m), June 2011-November 2011 33
Figure 15: North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
Figure 16: Oil and Gas Industry, Europe , Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Figure 17: Oil and Gas Industry, Asia-Pacific , Number of Deals and Deal Values (US$m), June 2011-November 2011 39
Figure 18: Oil and Gas Industry, Rest of the World, Number of Deals and Deal Values (US$m), June 2011-November 2011 41
Figure 19: Oil and Gas Industry, Global, Top Financial Advisors, M&As, June 2011-November 2011 43
Figure 20: Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
Figure 21: Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
To order this report:
Oil and Gas energy Industry: Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
More Market Research Report
Check our Industry Analysis and Insights
Nicolas Bombourg
Reportlinker
Email: nbo@reportlinker.com
US: (805)652-2626
Intl: +1 805-652-2626
http://tourism9.com/
Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
http://www.reportlinker.com/p0351293/Oil-and-Gas-Monthly-Deals-Analysis—MA-and-Investment-Trends-December-2011.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Oil_and_Gas_energy
Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
Summary
GlobalData’s “Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011″ report is an essential source of data and trend analysis on the mergers and acquisitions (M&As) and financings in the oil and gas industry. The report provides detailed information on M&As, equity/debt offerings, private equity, venture financing and partnership transactions registered in the oil and gas industry in Novmeber 2011. The report portrays detailed comparative data on the number of deals and their value in the last six months, subdivided by deal types, segments and geographies. Additionally, the report provides information on the top financial advisory firms in the oil and gas industry.
Data presented in this report is derived from GlobalData’s proprietary in-house Energy eTrack deals database and primary and secondary research.
Scope
- Analyze market trends for the oil and gas industry in the global arena
- Review of deal trends in upstream, midstream, downstream, and equipment & services segments
- Analysis of M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships in the oil and gas industry
- Summary of oil and gas deals globally in the last six months
- Information on the top deals that took place in the industry
- Geographies covered include – North America , Europe , Asia Pacific , South & Central America , and Middle East & Africa
- League Tables of financial advisors in M&A and equity/debt offerings. This includes key advisors such as Morgan Stanley, Credit Suisse, and Goldman Sachs
Reasons to buy
- Enhance your decision making capability in a more rapid and time sensitive manner.
- Find out the major deal performing segments for investments in your industry.
- Evaluate the types of company divesting and acquiring assets and ways to raise capital in the market.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the oil and gas industry.
- Identify growth segments and opportunities in each region within the industry.
- Look for key financial advisors where you are planning to raise capital from the market or for acquisitions within the industry.
1 Table of contents
1 Table of contents 2
1.1 List of Tables 3
1.2 List of Figures 4
2 Oil and Gas Industry, Global, Deals Summary 5
2.1 Oil and Gas Industry, Global, Deal Analysis, November 2011 5
2.2 Oil and Gas Industry, Global, Number of Deals by Type, November 2011 7
2.3 Oil and Gas Industry, Global, Top Deals, November 2011 8
2.3.1 KKR, Crestview Partners, NGP Energy Capital And ITOCHU To Acquire Samson Investment For $7.2 Billion 8
2.3.2 Petrogal Brasil to Issue New Shares To Sinopec For $4.8 Billion 9
2.3.3 Chesapeake Energy And EnerVest To Sell 25% Stake In 650,000 Net Acres Of Utica Shale Play For $2.44 Billion 9
2.3.4 Centrica To Acquire Oil And Gas Assets In Norway North Sea From Statoil Petroleum For $1.63 Billion 9
2.3.5 BG Group Announces Public Offering Of 3% Bonds Due 2018 For $1.38 Billion 10
2.4 Oil and Gas Industry, Global, Rumored Deals, November 2011 10
2.4.1 RWE To Sell Oil & Gas Assets In Egypt For Up To $3 Billion 10
2.4.2 Reliance Industries Plans Public Offering Of Bonds For $1 Billion 10
2.4.3 Marathon Oil Plans To Sell 10% Interest In Block 32 In Angola For $800 Million 10
3 Oil and Gas Industry, Global, Deals Summary, by Type 11
3.1 Oil and Gas Industry, Global, Asset Transactions, November 2011 11
3.2 Oil and Gas Industry, Global, Mergers and Acquisitions, November 2011 13
3.3 Oil and Gas Industry, Global, Equity Offerings, November 2011 15
3.4 Oil and Gas Industry, Global, Debt Offerings, November 2011 17
3.5 Oil and Gas Industry, Global, Private Equity/Venture Capital Deals, November 2011 19
3.6 Oil and Gas Industry, Global, Partnership Deals, November 2011 20
3.7 Partnership Deals in November 2011 21
4 Oil and Gas Industry, Global, Deals Summary, by Sector 22
4.1 Upstream Oil and Gas Deals, Global, November 2011 22
4.1.1 Upstream Energy – Deals of the Month 23
4.1.2 Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
4.2 Midstream Oil and Gas Deals, Global, November 2011 26
4.2.1 Midstream Energy – Deals of the Month 27
4.3 Downstream Oil and Gas Deals, Global, November 2011 29
4.3.1 Downstream Energy – Deals of the Month 30
4.4 Oil and Gas Deals, Global, Equipment and Services, November 2011 31
4.4.1 Equipment and Services – Deals of the Month 32
5 Oil and Gas Industry, Deals Summary, by Geography 33
5.1 Oil and Gas Deals, North America , November 2011 33
5.1.1 North America – Deals of the Month 34
5.1.2 North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
5.2 Oil and Gas Deals, Europe , November 2011 37
5.2.1 Europe – Deals of the Month 38
5.3 Oil and Gas Deals, Asia-Pacific , November 2011 39
5.3.1 Asia-Pacific – Deals of the Month 40
5.4 Oil and Gas Deals, Rest of the World, November 2011 41
5.4.1 Rest of the World – Deals of the Month 42
6 Oil and Gas Industry, Global, Top Advisors 43
6.1 Oil and Gas Industry, Global, Top Financial Advisors, Mergers and Acquisitions, June 2011-November 2011 43
6.2 Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
6.3 Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
7 Further Information 46
7.1 Methodology 46
7.2 About GlobalData 46
7.3 Contact Us 47
7.4 Disclosure information 47
7.5 Disclaimer 47
List of Tables
Table 1: Oil and Gas Industry, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 6
Table 2: Oil and Gas Industry, Global, Deals by Type, Number and %, November 2011 7
Table 3: Oil and Gas Industry, Global, Top Deals, November 2011 8
Table 4: Oil and Gas Industry, Global, Asset Transactions, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 11
Table 5: Oil and Gas Industry, Global, Top Asset Transactions, November 2011 12
Table 6: Oil and Gas Industry, Global, M&A Deals, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 14
Table 7: Oil and Gas Industry, Global, Top M&A Deals, November 2011 14
Table 8: Oil and Gas Industry, Global, Equity Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Table 9: Oil and Gas Industry, Global, Top Equity Offerings, November 2011 16
Table 10: Oil and Gas Industry, Global, Debt Offerings, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Table 11: Oil and Gas Industry, Global, Top Debt Offerings, November 2011 18
Table 12: Oil and Gas Industry, Global, Private Equity and Venture Capital, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 19
Table 13: Oil and Gas Industry, Global, Partnerships, Number of Deals, June 2011-November 2011 20
Table 14: Upstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 23
Table 15: Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
Table 16: Midstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 27
Table 17: Downstream Oil and Gas, Global, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 29
Table 18: Oil and Gas, Global, Equipment and Services, Deal Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 31
Table 19: Oil and Gas Industry, North America , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 34
Table 20: North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
Table 21: Oil and Gas Industry, Europe , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 38
Table 22: Oil and Gas Industry, Asia-Pacific , Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 40
Table 23: Oil and Gas Industry, Rest of the World, Deals Summary, Number of Deals and Deal Values (US$m), June 2011-November 2011 41
Table 24: Oil and Gas Industry, Global, Top Financial Advisors, M&A, June 2011-November 2011 43
Table 25: Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
Table 26: Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
List of Figures
Figure 1: Oil and Gas Industry, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 5
Figure 2: Oil and Gas Industry, Global, Number of Deals by Type (%), November 2011 7
Figure 3: Oil and Gas Industry, Global, Asset Transactions, Number of Deals and Deal Values (US$m), June 2011-November 2011 11
Figure 4: Oil and Gas Industry, Global, M&A Deals, Number of Deals and Deal Values (US$m), June 2011-November 2011 13
Figure 5: Oil and Gas Industry, Global, Equity Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 15
Figure 6: Oil and Gas Industry, Global, Debt Offerings, Number of Deals and Deal Values (US$m), June 2011-November 2011 17
Figure 7: Oil and Gas Industry, Global, Private Equity/Venture Capital, Number of Deals and Deal Values (US$m), June 2011-November 2011 19
Figure 8: Oil and Gas Industry, Global, Partnerships, Number of Deals, June 2011-November 2011 20
Figure 9: Upstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 22
Figure 10: Upstream Oil and Gas, Global, Acquisitions and Asset Transaction Multiples, June 2011-November 2011 25
Figure 11: Midstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 26
Figure 12: Downstream Oil and Gas, Global, Number of Deals and Deal Values (US$m), June 2011-November 2011 29
Figure 13: Oil and Gas, Global, Equipment and Services, Number of Deals and Deal Values (US$m), June 2011-November 2011 31
Figure 14: Oil and Gas Industry, North America , Number of Deals and Deal Values (US$m), June 2011-November 2011 33
Figure 15: North America Oil and Gas, Upstream Acquisitions and Asset Transaction Multiples, June 2011-November 2011 36
Figure 16: Oil and Gas Industry, Europe , Number of Deals and Deal Values (US$m), June 2011-November 2011 37
Figure 17: Oil and Gas Industry, Asia-Pacific , Number of Deals and Deal Values (US$m), June 2011-November 2011 39
Figure 18: Oil and Gas Industry, Rest of the World, Number of Deals and Deal Values (US$m), June 2011-November 2011 41
Figure 19: Oil and Gas Industry, Global, Top Financial Advisors, M&As, June 2011-November 2011 43
Figure 20: Oil and Gas Industry, Global, Top Financial Advisors, Equity Offerings, June 2011-November 2011 44
Figure 21: Oil and Gas Industry, Global, Top Financial Advisors, Debt Offerings, June 2011-November 2011 45
To order this report:
Oil and Gas energy Industry: Oil and Gas Monthly Deals Analysis – M&A and Investment Trends, December 2011
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Nicolas Bombourg
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