On February 16, 2022, Loop Capital Markets served as a co-manager on a four-tranche, $2.4 billion, first mortgage bond offering for Pacific Gas and Electric Company. The notes are rated Baa3/BBB- across 2-, 7-, 10- and 30-year tranches.
Use of proceeds are earmarked for the prepayment of all of the loans outstanding under the Utility 18-Month Term Loan Facility pursuant to the Utility Term Loan Credit Agreement, in an amount equal to $1.298 billion, and the remaining net proceeds for general corporate purposes, including the repayment of borrowings outstanding under the Utility Revolving Credit Facility.
On February 9, 2022, Loop Capital Markets acted as a co-manager on a three-tranche, $2.5 billion senior unsecured notes offering for Aptiv PLC. The bonds are rated Baa2/BBB across 3-year, 10-year, and 30-year tranches.
Use of proceeds are earmarked to fund a portion of the cash consideration, fees and expenses in connection with the Acquisition of Wind River Systems, Inc. and for general corporate purposes.
On February 2, 2022, Loop Capital Markets acted as a co-manager on a $450 million fixed rate reset non-cumulative perpetual preferred stock offering for U.S. Bancorp. The securities are rated Baa1/BBB+/BBB+.
Use of proceeds are earmarked to fund a portion of the cash consideration in connection with the Acquisition of MUFG Union Bank, N.A., for general corporate purposes, and to temporarily invest to reduce short-term indebtedness. After the closing of the Acquisition, U.S. Bancorp will merge Union Bank with and into U.S. Bank National Association, the company’s wholly owned subsidiary.
On February 2, 2022, Loop Capital Markets was mandated as an active joint-bookrunner on a three-tranche, $1.5 billion senior unsecured fixed/floating rate notes offering for State Street Corp. The bonds are rated A1 /A/AA- across 4-year, 6-year, and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes, which may include, working capital, capital expenditures, investments in or loans to subsidiaries, refinancing of outstanding indebtedness, refinancing of outstanding capital securities, share repurchases, dividends, funding potential future acquisitions and satisfaction of other obligations.
On February 1, 2022 Loop Capital Markets served as a co-manager on a $250 million senior unsecured convertible notes offering for Xometry, Inc. The notes have a 5-year tenor.
Use of proceeds are earmarked for general corporate purposes, working capital, and potential acquisitions or strategic investments in complementary businesses, products, services, or technologies.
On February 1, 2022, Loop Capital Markets acted as a co-manager on a five-tranche, $9.0 billion senior unsecured fixed/floating rate medium-term Series N notes offering for Bank of America Corp. The bonds are rated A2/A-/AA- across 3-, 5- and 11-year tranches.
Use of proceeds are earmarked general corporate purposes, which may include working capital, funding of investments, extensions of credit, acquisitions, and reductions, redemptions, repayments or repurchases of outstanding indebtedness or equity securities.
On January 31, 2022, Loop Capital Markets acted as a co-manager on a $300 million senior unsecured medium-term, Series Q notes offering for PACCAR Financial Corp. The 5-year bond is rated A1/A+.
Use of proceeds are earmarked for general corporate purposes.
On January 27, 2022, Loop Capital Markets served as a co-manager on a $500 million senior secured notes offering for Embecta Corp. The 8-year bond is rated B3/B+.
Use of proceeds are earmarked to finance the spin-off of Embecta from Becton, Dickinson and Company (“BD”), including payment of a cash distribution to BD, as well as related transaction fees and expenses, working capital, and general corporate purposes.
On January 21, 2022, Loop Capital Markets acted as a co-manager on a $550 million senior unsecured notes offering for Antares Holdings LP. The 5-year bond is rated BBB-/BBB(H).
Use of proceeds are earmarked for general corporate purposes including the repayment of any borrowings under the credit facilities.
On January 19, 2022, Loop Capital Markets mandated as a joint-lead manager on a $2.3 billion senior unsecured global medium-term bond offering for Morgan Stanley. The 6-year bond is rated A1/BBB+/A.
Use of proceeds are earmarked for general corporate purposes.
