TITLE

Courting Companies Down Under

AUTHOR(S)
O'Connor, Colleen Marie
PUB. DATE
March 2005
SOURCE
Investment Dealers' Digest;3/7/2005, Vol. 71 Issue 9, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the advancement made by the Australian gaming company, Tabcorp Holdings Inc. Australian gaming company Tabcorp Holdings Inc. set out to raise US dollar 150 million in the U.S. private placement market. Although the company was only rated BBB plus, U.S. investors were so eager for the paper that Tabcorp. issued almost five times its initial target, US dollar 700 million instead of US dollar 150 million. As one of the largest-ever private placements for an Australian company, especially one so low on the investment grade spectrum, the Tabcorp deal was a sign of how far the Aussies have come in the private placement market. The market's growth is also attributed to unusual cooperation among financial institutions. INSET: A Bungee Jump in New Zealand.
ACCESSION #
16308162

 

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