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Six More Equity Offerings Price After The Close As The Greater Fools Start Getting Second Thoughts

Tyler Durden's picture




 

It appears that not only we are tracking the phaseout in equity inflows, all of which are simply the reversal of the massive $220 billion surge in bank deposits in the month of December due to fears of Fiscal Cliff dividend and capital gains tax increases (explained previously), and which as today's ICI update indicates have trickled down to just $683 million - the lowest weekly inflow year to date.

Among the others who are keeping track of the weekly reduction in inbound capital euphoria, in addition to the six companies which priced equity offerings on Monday as was shown previously, are these fine corporations and stakeholders who just can't wait to get out while the getting is good, split once again evenly between secondaries and follow ons:

Secondaries:

  • LyondellBasell (LYB) today announced the commencement of an underwritten public offering of 25 million ordinary shares by certain selling shareholders that are affiliates of Apollo Management Holdings L.P.
  • Nielsen Holdings N.V. (NLSN), a leading global provider of information and insights into what consumers buy and watch, today announced the launch of a public offering of 35,000,000 shares of common stock. The shares are being sold by certain existing shareholders. Existing shareholders include KKR, Carlyle, Blackstone and Thomas H. Lee Partners LP
  • Sensata Technologies Holding N.V. (ST) today announced the commencement of an underwritten public offering of 15,000,000 ordinary shares by existing shareholders as identified in the prospectus supplement relating to this offering.  Existing shareholders include Bain Capital.

Follow Ons:

  • Pioneer Natural Resources (PXD) today announced that it is commencing a public offering of 8 million shares of its common stock. Pioneer expects to use the net proceeds from this offering for general corporate purposes, including the acceleration of horizontal appraisal drilling in the northern portion of the Company’s highly prospective Wolfcamp/Spraberry acreage position in West Texas. Pending such use, a portion of the net proceeds will be used to repay the outstanding borrowings under the Company’s credit facility, with the remaining proceeds to be invested in money-market funds or U.S. treasuries.
  • ARMOUR Residential REIT, Inc. (ARR) announced today that it is commencing an underwritten public offering of 65,000,000 shares of common stock.  The Company intends to use the net proceeds of the offering to acquire additional agency securities as market conditions warrant and for general corporate purposes.
  • BioMed Realty Trust, Inc. (BMR) today announced it has commenced a public offering of 11,500,000 shares of its common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.  BioMed Realty expects to use the net proceeds of the offering to fund a recently announced property acquisition, to fund a portion of the redemption of all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes.  

Sold to you Joe Sixpack, who can't wait to buy what the not so dumb money, Apollo, KKR, Carlyle, Blackstone, Thomas H. Lee, and Bain, and of course various management teams who don't need the cash but will take it especially at the market top, are selling. 

 

and to last week's data - 2013 is running 58% above the 10 year average for new offerings - as it seems more than a few know its time to cash out...


 

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Wed, 02/13/2013 - 21:53 | 3241772 buzzsaw99
buzzsaw99's picture

Sold to you Joe Sixpack :the bernank smiles:

Wed, 02/13/2013 - 23:39 | 3242044 DoChenRollingBearing
DoChenRollingBearing's picture

NOW is a great time to sell some stocks.  No need to sell them all, but we are near the all-time highs, it never hurts to take a profit.

The Bernank might not be happy about any JSP selling, but fuck him.

Thu, 02/14/2013 - 00:42 | 3242196 markmotive
Thu, 02/14/2013 - 04:39 | 3242449 icanhasbailout
icanhasbailout's picture

True greater fools don't have second thoughts, and the first wasn't theirs either

Wed, 02/13/2013 - 21:54 | 3241776 kornholio
kornholio's picture

bullish

 

Wed, 02/13/2013 - 22:06 | 3241809 DeadFred
DeadFred's picture

So does this mean I should buy more stock? /s

Wed, 02/13/2013 - 22:11 | 3241813 Ineverslice
Ineverslice's picture

 

Private equity goes Ka-chinng....

Pick up some mattresses on your way back.

(blow me Schwartzman)

Wed, 02/13/2013 - 22:18 | 3241841 LongSoupLine
LongSoupLine's picture

It's over you fucking money harvesting wall street shit eating fucks. Choke on a fucking wrench and die you worthless subhuman stupid fucking pricks.

Wed, 02/13/2013 - 22:21 | 3241853 tawdzilla
tawdzilla's picture

I take it you don't like worthless subhuman stupid fucking pricks.

Wed, 02/13/2013 - 22:38 | 3241898 Say What Again
Say What Again's picture

And all this from a guy with a smiling Mr. Bubbles as an avatar.

Thu, 02/14/2013 - 01:18 | 3242235 They Tried to S...
They Tried to Steal My Gold's picture

Linc Hayes  that is good one!

Wed, 02/13/2013 - 23:30 | 3242022 sherryw
sherryw's picture

For god's sake man, say what you mean!

Thu, 02/14/2013 - 07:54 | 3242562 eclectic syncretist
eclectic syncretist's picture

These organizations clearly think it's time to get out.  I wonder how many more have been thinking the same thing?

This bears very close watching over the next few days/weeks.

Wed, 02/13/2013 - 22:23 | 3241855 acompletedouche
acompletedouche's picture

I make my living trading these deals,but have not touched a single one this year.Upside potential of a percent or 2,downside risk of 10%-20%+.

Almost every deal coming to market is at multi year highs and all after massive ytd gains at pricing.

Suckers everywhere for the moment I guess....

Wed, 02/13/2013 - 22:23 | 3241863 Goldilocks
Goldilocks's picture

Van Halen- Runnin' with the devil
http://www.youtube.com/watch?v=Bl4dEAtxo0M (3:37)

Wed, 02/13/2013 - 23:13 | 3241985 Glass Seagull
Glass Seagull's picture

 

 

Supply of shares to increase while demand for shares is still weak.  Still reminded of how Blackstone's ipo was near the top. 

Wed, 02/13/2013 - 23:27 | 3242017 ekm
ekm's picture

What basically this means is that:

The former smart money is currently the ....dumn money.

Thu, 02/14/2013 - 02:30 | 3242357 q99x2
q99x2's picture

Let the degenerate NWO eat themselves. Fuck Goldmen Sachs.

Thu, 02/14/2013 - 03:49 | 3242412 Sudden Debt
Sudden Debt's picture

Money on the sidelines got lost underway...

Thu, 02/14/2013 - 07:59 | 3242466 NuYawkFrankie
NuYawkFrankie's picture

Blackstone, Carlyle, KKR, Bain...

A veritable Rogues Gallery - make that a Hall Of Infamy - of Grifters

 

Now that this gaggle-of-grifters  have asset-stripped just about everything - including your jobs - and there's nothing left, these same  jokers want to offer you - Mr & Mrs Muppet America - a piece of the action!

"Aw schuks Mildred! What a swell bunch of guys! Just when we were starting to have an inkling that something might be amiss on Wall St, these private-equity folk wanna spread the wealth - cut us a slice of the pie!  Sounds like one helluva deal to me... what's not to like about being on board with  ex-Presidents & Prime Miisters & Arms-dealers at Carlyle... or with "Cayman Islands" Mitt over at Bain?  OK, granted Mr Kravis at KKR looks a bit shifty - and might not be "one of us" - but even so, come on, what could possibly go wrong?"

 

Thu, 02/14/2013 - 08:11 | 3242579 new game
new game's picture

NY-one hellova witty post.

Thu, 02/14/2013 - 11:19 | 3243028 drivenZ
drivenZ's picture

yawwwwn....this is what PE firms do. Bain's been in Sensata for 6-7 years. The market is good right now, you don't need to be an insider at a PE firm to know that. Does it mean the parties over? not at all. 

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