Corporate Debt Private Placements
Debt private placements offer the following advantages for corporate borrowers:
- Financings from $20 million to $500 million
- Maturities from 2 to 30+ years
- Bullet or amortizing maturities
- Fixed rate or floating rate
- Custom-tailored structures
- Public or private companies
- Multi-currency, multi-tranche, multi-issuer
- Secured or unsecured
- Outside ratings not required
- Lower up-front costs vs. public debt
- Longer maturities than typical bank debt
- SEC registration not required
- Tailored publicity (ranging from confidential to high profile)
- Quick execution
MetLife's team of private placement analysts are dedicated to one asset class (no distractions) and all are industry specialists — vital for understanding a company's business and credit story. Investment parameters and a sample of recent transactions follow:
| Type: | Traditional private placements, 144a transactions (w/o registration rights), credit tenant leases, multiple issuers, other structured transactions |
| Structure: | Senior and subordinated notes; secured and unsecured |
| Quality: | Investment grade or below investment grade (no ratings required) |
| Payment: | Amortizing or bullet maturities; fixed or floating rate coupons |
| Size: | Up to $500 million |
| Term: | 2 to 30 + years, multi-tranche, various call provisions |
| Currency: | Any major currency |
- US$95 million of Fixed Rate 10, 15, 20-year Senior Notes of a US consumer non-cyclical corporate
- US$500 million of Floating Rate 5-year Senior Subordinated Notes of a financial services company
- €40 million of Fixed Rate 10 and 12-year Senior Notes of a European industrial manufacturer
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