ARE YOU A European corporate? Do you need to borrow money? Why not issue illiquid paper with a stack of bondholder-friendly provisions to an investor base thousands of miles away? In short, why not do a US private placement?
That apparently unlikely sales pitch has convinced a growing number of issuers in the past 18 months. The total US private placement market was worth just under $29 billion in 2002. Issuance in 2003 was nearly $46 billion – up 59%.
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