Becoming public knowledge (TT March04 p34-35)

Until recently, a UK treasurer might have been forgiven for not being familiar with a typically American instrument of funding – the US private placement (PP). However, following a boom in demand for foreign risk from US investors in the past couple of years, most medium- and large-sized companies across Europe have been marketed this funding option by eager bankers. Still, little independent information remains published on the market and mechanics of PPs, so getting to grips with it may be a challenge. Read on – and you may be able to impress the boss next time PPs are mentioned.