"Wall crossing" equity deals all the rage?

IDD notes an interesting trend when it comes to the many equity offerings we've seen by banks. These days, the deals tend to be unannounced, conducted via a lot of back-room NDA-protected discussions--sans a press release. Typically, an issuer will approach possible buyers with an offer to detail the offering if they agree to sign a confidentiality agreement. Only then do they get deal particulars.

Part of the motivation is to prevent embarrassment if the deal attracts little interest. Think of this as a way of pre-marketing deals on the QT. The window of opportunity is short, as issuers must disclose the information they provided confidentially the very next day via an 8K. IDD estimates that 90 percent of financial deals we've seen recently occurred in this manner. 

For more:
- here's the IDD article

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