Assessing the US private placement market from a corporate perspective
The US Private Placement ("USPP") market is a US private bond market which is available to both US and non US companies. The principle attraction of this market is that it provides an alternative source of liquidity from the traditional bank market without the need for a formal credit rating and reporting requirements which are a pre-requisite of the public bond markets.
This article, written by a corporate treasurer who has frequently been through the process of launching an issue, explains that process, the various parties and agreements involved and the practical steps required.
Source: ACT International Treasurer’s Handbook 2010