M2 EquityBites

-Dnb nor Issues Usd2bn Covered Bond

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - DnB NOR Boligkreditt AS, part of Norwegian bank DnB NOR (OSL:DNBNOR), yesterday placed USD2bn (EUR1.437bn) covered bonds, said Thomson Reuters service IFR.

-Fannie Mae Issues Usd8bn 2-Yr Notes

-Regeneron Pharmaceuticals Hires Citi for 4.5m Stock Offering

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - US biopharmaceutical firm Regeneron Pharmaceuticals Inc (NASDAQ:REGN) said on Wednesday it had mandated Citi (NYSE:C) as the sole bookrunner for its planned offering of 4.5m common stock.

-Credit Agricole Opens Bottom Aud300m 2013 Bond Offer

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - French Credit Agricole SA (EPA:ACA) has started a three-year kangaroo bond worth minimum AUD300m (USD293m/EUR210m), Reuters said today citing the issue managers.

-Canadian Bank Cibc Sells Aud750m Covered Bonds at 48 Bps Over Swap

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Canadian Imperial Bank of Commerce (TSE:CM), or CIBC, has issued AUD750m (USD732m/EUR526m) 2013 covered bonds at some 48 basis points over swap, Reuters said today citing the managers of the issue.

-Citizens Financial Services to Pay Usd0.26 P/S Dividend On 5 Nov

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Citizens Financial Services (OTCBB:CZFS), the US parent of First Citizens National Bank, said earlier this week it will pay a cash dividend of USD0.26 (EUR0.19) per share on 5 November 2010.

-Barcap, Raymond James Among Bookrunners of Dupont Fabros Preferred Stock Sale

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - US data centre operator DuPont Fabros Technology Inc (NYSE:DFT) said on Wednesday it had hired Barclays Capital, Raymond James (NYSE:RJF), RBC Capital Markets, Macquarie Capital and Jefferies (NYSE:JEF) as the joint bookrunners for its public offering of preference shares.

-Shinsei Bank Said to Advise Takefuji Financial Recovery

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Japanese Shinsei Bank (TYO:8303) will most likely serve as the financial consultant helping insolvent consumer lender Takefuji find an investor to put it back on its feet, Reuters said today citing three insiders.

-Barclays Issues Usd1.25bn 2020 Notes

-China Mecox Lane Names Usd100m Ipo Underwriters

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Chinese online clothing chain Mecox Lane said on Wednesday it had hired Credit Suisse Securities USA, UBS (VTX:UBSN), Oppenheimer (NYSE:OPY) and Roth Capital Partners to underwrite its initial public offering of depositary shares for maximum proceeds of USD100m (EUR72m).

-Warburg Pincus Buys Into National Penn Bancshares for Usd150m

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Private equity firm Warburg Pincus has agreed to invest USD150m (EUR108m) in National Penn Bancshares Inc (NASDAQ:NPBC) through a purchase of 24.8m National Penn new common shares at USD6.05 per share, the US bank holding company said on Wednesday.

-Bofa, Barclays, Wells Fargo to Handle Eola Property Trust Ipo

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - US-based Eola Property Trust said yesterday it had hired Bank of America Merrill Lynch, Barclays Capital and Wells Fargo Securities as underwriters of its planned initial public offering (IPO).

-Standard Financial Closes Mutual-to-Stock Conversion, Share Offering

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - US-based Standard Financial Corp said on Wednesday it had completed a mutual-to-stock conversion of its unit, Standard Bank, and a related offering of 3,478,173 common shares.

-S&P Changes Tata Steel Outlook On Loan Refinancing

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - S&P today revised to "stable" from "negative" its rating outlooks on Indian steel maker Tata Steel (BOM:500470) and its UK unit after the latter refinanced a GBP3.67bn (USD5.83bn/ EUR4.18bn) term bank loan.

-S&P Gives Air Medical Group Preliminary B Rating

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - S&P said on Wednesday it has assigned its provisional corporate credit rating of B with a "stable" outlook to US emergency air medical transportation firm Air Medical Group Holdings Inc.

-S&P Rates Portland Intl Airport's Series 20 Rev Bonds at Aa-

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - S&P yesterday gave its AA- long-term rating to Port of Portland, Oregon's USD154.8m (EUR111.1m) series 20 airport revenue bonds, issued for the Portland International Airport.

-Bnp Paribas Lends Usd65m to Ukrainian Agrotrade

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Ukrainian grain trader Agrotrade announced yesterday it had received a USD65m (EUR47m) loan from French bank BNP Paribas (EPA:BNP) which it will use to fund grain purchases.

Ge Expands Energy Technology Portfolio with Acquisition of Dresser for Usd3.0bn

EQUITYBITES-(C)2010 M2 COMMUNICATIONS Diversified infrastructure, finance and media company General Electric Company (GE) (NYSE:GE) has signed a contract to acquire Dresser Inc, an energy infrastructure technology and service provider. Dresser reported revenues of USD2.0bn and earnings of USD318m in 2009.

-Spanish Banesto 9-Mo Profit Shrivels 18.6% On Higher Provisions

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - Spanish commercial lender Banesto (MCE:BTO) said today its nine-month 2010 net attributable profit shrank by 18.6% year-on-year to EUR450.6m (USD627.8m) as it put aside more funds to cushion against sour credits.

-S&P May Lift Dresser's Rating On Potential Sale to General Electric

EQUITYBITES-(C)2010 M2 COMMUNICATIONS 7 October 2010 - S&P on Wednesday placed on "positive" watch all its ratings on US flow control products and power and compression systems maker Dresser Inc, pending its sale to higher-rated conglomerate General Electric (NYSE:GE).

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M2 EquityBites, October 07, 2010

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