DEALTALK-KKR aims to take role of banks with IPO

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL]
said in its IPO prospectus earlier this week that the $1.25
billion offering will allow the firm to expand its ability to
syndicate equity and reduce reliance on third-party sources of
capital.




Syndicating leveraged buyout equity is normally the role of
investment banks. Does KKR wish to cut banks entirely out of
the LBO process? The answer is no, sources close to the firm
say, since the firm will still rely on banks to handle the debt
borrowed for the deals.


Read more at Reuters.com Mergers News

CORRECTED - UPDATE 1-PSEG supports NJ carbon law, sees higher prices

(Reuters) - EAST RUTHERFORD, New Jersey, July 6 - Public
Service Enterprise Group, owner of New Jersey's largest
utility, said on Friday it supports a new state law to cut
carbon emissions and believes customers are willing to pay
higher power prices to combat global warming.




PSEG Chief Executive Ralph Izzo said the utility plans to
ask state regulators later this year to approve measures to
allow it to pass on to customers the costs of the new programs
it hopes to implement to meet the state's environmental goals.


Read more at Reuters.com Government Filings News

Rex Energy sets IPO at 14.67 mln shares, $11-$13

(Reuters) - KeyBanc Capital Markets is the lead underwriter for the
IPO, and the company intends to list its stock on the Nasdaq
under the symbol "REXX" .




Read more at Reuters.com Government Filings News

U.S. FERC approves $18 mln BP-California settlement

(Reuters) - The payment will be made to the California Department of
Water Resources, which backed power purchases when wholesale
power prices skyrocketed and rolling blackouts were common
during the energy crisis.




The state's largest utility, Pacific Gas & Electric Co.,
went bankrupt during the crisis. It has since emerged from
bankruptcy.


Read more at Reuters.com Bonds News

TREASURIES-Bonds slide as robust jobs data hits rate cut hopes

(Reuters) - NEW YORK, July 6 - U.S. Treasury debt prices fell
on Friday, pushing yields to two-week highs, after strong jobs
data dashed some of the remaining expectations that the Federal
Reserve would cut interest rates this year.




Unexpectedly robust job growth in June and upward revisions
to figures for April and May added to recent downward pressure
on bonds. Based on the rise in benchmark yields, the market was
on track for its biggest week of losses in just over a year.


Read more at Reuters.com Bonds News

UPDATE 1-PolyOne sells stake in Oxy Vinyls, shares rise

(Reuters) - Following the announcement, shares of PolyOne rose 13.5
percent to $8.34 in afternoon trading on the New York Stock
Exchange.




The company plans to use the proceeds from the transaction
to reduce its debt and lower interest costs.


Read more at Reuters.com Mergers News

Oil May Rise Next Week on Supply Risks, Refining Disruptions, Survey Shows

(Bloomberg) -- Crude oil may rise next week on
concern that oil supplies from Nigeria and Iran may be curbed and
U.S. gasoline output will drop because of unexpected refinery
closures.

Sixteen of 36 analysts surveyed, or 44 percent, said oil
prices will increase. Fourteen, or 39 percent, said prices will
fall and six forecast little change. Last week, 49 percent of
respondents said prices would rise.


Read more at Bloomberg Energy News