Momtchil Pojarliev
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Some Like It Hedged

BNP Asset Management's Pojarliev discusses a variety of options to address foreign currency exposures. Although there is no single best-practice solution for addressing foreign currency exposures, institutional investors have three main choices, he says.

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April 1, 2002

IPOs on March Back

By Colleen O'Connor

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Other defense-related filings include Veridian Corp. (proposed NYSE:VNX), and SRA International Inc. (proposed NYSE:SRX). The two are seeking to raise as much as $175 million and $86.3 million, respectively. Neither revealed share prices or share amounts. Both companies are based in Virginia and tout Uncle Sam as a prime customer.

Veridian targets the intelligence, law enforcement and Pentagon communities with custom designed databases. Proceeds from the deal, managed by Wachovia Securities, CIBC World Markets and SG Cowen, will be used to redeem outstanding preferred stock and notes. Veridian also plans to pay fees to Monitor Clipper Partners, one of its private equity backers, for strategic planning and management consulting fees. Additional backers include CIBC Bank, Gibralter Trust, Texas Growth Management and Wachovia Capital Partners. Veridian last saw a $325 million private equity round in September 1999.

SRA International advises the U.S. defense department and its related intelligence agencies on computing needs. The deal is led by Salomon Smith Barney, with UBS Warburg; Legg Mason Wood Walker; Raymond James & Associates; Adams, Harkness & Hill; and BB&T Capital Markets as managers. Proceeds are aimed at repayment of its credit facility.

Colleen Marie O'Connor is an associate editor at The IPO Reporter, published by Venture Economics, a Thomson Financial Company.