On September 22, 2026, Loop Capital Markets served as Bookrunning Senior Manager on the $285 million San Diego County Water Authority (the “Water Authority”) Water Revenue Bonds, Series 2026A rated Aa2 (Stable) by Moody’s and AA+ (Stable) by S&P. Proceeds of the bonds will finance capital projects for the Water Authority in furtherance of the Capital Improvement Program. The transaction marked the Water Authority’s first market appearance since 2022.

The financing came amid a challenging market environment shaped by Federal Reserve action, geopolitical tensions, higher oil prices, and renewed municipal fund outflows. Pricing followed the September 16 FOMC meeting, when the Federal Reserve raised its target rate by 25 basis points to a range of 3.75%–4.00%, its first increase since July 2023. On pricing day, despite early optimism around potential diplomacy in the U.S.–Iran conflict, the market’s initial enthusiasm dwindled with broader weakness across oil, Treasuries and municipals, with MMD yields rising 3–10 basis points in the first ten years of the curve.

Despite the volatility and an $11.2 billion new-issue calendar, Loop generated more than $1.7 billion of orders from 68 investors. The order book included 45 investors that had not participated in the Water Authority’s 2022 transaction, demonstrating broad new interest in the credit. Loop used the strength and diversity of demand to tighten spreads by 2–9 basis points from pre-marketing levels to final pricing. Importantly, aggregate orders remained at approximately $1.7 billion after repricing.

Loop’s banking team and our dedicated credit and rating agency specialist worked with the Water Authority and its municipal advisors on the rating agency strategy. The banking team also assisted the Water Authority in developing the investor presentation which was viewed by 21 investors. The 2026 Bonds originally comprised of serial maturities from 2027-2046 and term bonds in 2051 and 2056 using all 5% coupons. To respond to market conditions and broaden demand, Loop extended serial maturities through 2048 and used 5.25% coupons on the 2051 and 2056 term bonds. The financing achieved a final all-in TIC of 4.73%.

On August 19, 2026, Loop Capital Markets served as the Senior Manager for the New York City Transitional Finance Authority’s (“TFA” or the “City”) $1.5 billion Future Tax Secured Subordinate Bonds (the “Bonds”) Fiscal 2026 Series B, Subseries B-1 rated Aa1 (negative) by Moody’s, AAA (stable) by S&P, and AAA (stable) by Fitch. The proceeds of the bonds will be used for capital purposes for the City of New York and to pay certain costs of issuance.

Ahead of pricing, municipals were pressured by an oil shock tied to the U.S.–Iran conflict and Fed uncertainty. On August 17, MMD was flat in 2027–2029, then weakened by 1 bp in 2030–2031, 2–5 bps in 2032–2041, and 6 bps in 2042–2056. Volatility continued August 18–19 as inflation and federal borrowing concerns lifted long-term Treasury yields and weighed on equities. Conditions improved August 19 after Treasury buybacks lowered 10- and 30-year yields by 6 and 9 bps, respectively, though heavy supply still pressured municipals. The TFA deal was the week’s second largest amid $16.3 billion of expected supply, while municipal bond funds posted their 17th straight weekly inflow, reaching $37 billion year-to-date.

Loop worked with the City and its municipal advisors on an electronic investor roadshow, which was viewed by 45 institutional investors, and kept the City informed on market conditions during pre-marketing.

The sale included a retail order period (“ROP”) on August 18 and an institutional order period (“IOP”) on August 19. During the ROP, all $1.5 billion of bonds were offered, generating $394.25 million of retail orders, including $348.85 million submitted by Loop, with $287.98 million usable and three maturities fully subscribed. During the IOP, $1.28 billion was offered as the MMD curve rose 3–7 bps from ROP levels. Coupons on the 2043 and 2044 maturities were revised from 5.00% to 5.25%, and the 2054 term bond was restructured into 2053 and 2054 serial maturities with 5.00% and 5.50% coupons, respectively. The City received $5.22 billion of institutional orders from a broad investor base, with subscription levels from 1.52x to 8.68x. Overall, the transaction drew 899 unique retail and institutional orders totaling $5.62 billion, or 3.7x subscription. Of these, Loop submitted $5.43 billion submitted of orders. At repricing, yields were lowered by 1–9 bps, except the 2050 maturity, and the deal concluded with $4.77 billion of orders, 3.18x oversubscription, no unsold balances, and a 4.86% TIC.

On August 11, 2026, Loop Capital Markets served as a co-manager on a $235.8 million follow-on offering (including the greenshoe) for Savers Value Village, Inc.

Selling shareholders will receive all of the net proceeds from the offering.

On July 29, 2026, Loop Capital Markets served as a co-manager on a $1.1 billion IPO (including the greenshoe) for Jersey Mike’s Subs Inc.

Use of proceeds are earmarked for general corporate purposes and working capital.

On July 28, 2026, Loop Capital Markets served as Bookrunning Senior Manager on the County of Cook, Illinois’ (the “County”) $120.725 million Sales Tax Revenue Bonds, Series 2026 (the “Bonds”). The financing was rated Aa3 (Stable), AA+ (Stable), and AAA (Stable) by Moody’s, Fitch, and Kroll, respectively. Proceeds will be used to (i) refund all or a portion of the County’s outstanding General Obligation Bonds, Series 2014D and Series 2018 (revolving credit facilities), and (ii) finance or refinance the construction, equipping, altering, or repairing of various County facilities.

The Bonds included serial maturities extending through 2048 to optimize debt service by leveraging the steepness of the yield curve in that segment, resulting in lower financing costs for the County. The Bonds also included a term bond maturing in 2051, with 5.00% coupons for bonds maturing 2026-2045 and 5.25% coupons for bonds maturing from 2046-2048 and in 2051 to garner incremental demand amid long-end resistance, and a 9-year par call on November 15, 2035 with no pricing penalty.

The Firm worked with the County and its municipal advisor to develop an electronic investor roadshow to highlight key transaction details and updates on the County, which was viewed by 19 unique accounts. Leading up to the pricing, municipal yields moved higher across the curve amid elevated new-issue supply and rising Treasury yields, with longer maturities underperforming as investors demanded additional concession for duration risk. Despite market headwinds, the transaction garnered $832 million of going-away orders, resulting in 6.9x subscription. More than half of the transaction was sponsored by long-term, buy-and-hold bond funds. Driven by compelling investor interest and participation, the Firm was able to tighten the 2026-2048 serial bonds by a weighted average of 8 basis points and the 2051 term bond by 12 basis points. The Bonds generated an All-In TIC of 4.807% with an average life of 18.287 years.

On July 28, 2026, Loop Capital Markets (the “Firm”) served as Senior Manager for Berklee College of Music’s (the “Institution”) $108.950 million Refunding Revenue Bonds, Series 2026 (the “Bonds”) issued through the Massachusetts Development Finance Agency. The financing was rated A2 (Stable) and A (Stable) by Moody’s and S&P, respectively. Proceeds will be used to (i) current refund the Institution’s Series 2016 Revenue Bonds and (ii) pay costs of issuance of the Bonds. The Bonds were structured as tax-exempt serial bonds with 5.00% coupons maturing annually from 2027 through 2039 and 2042 through 2046, subject to a 10-year par call.

Leading up to the week of pricing, municipals sold off broadly (MMD up 16-22 bps over the week) as Brent crossed $100/barrel and the Iran conflict showed no signs of resolution. Volatility peaked on July 23rd with a 12-bps cut to MMD across the curve and treasury yields surging between 2-6 bps. Given the FOMC meeting on July 29th, the Bonds priced amid a modest weekly issuance calendar with roughly $7.5 billion of expected municipal supply.

The Firm developed a comprehensive electronic investor roadshow viewed by 65 unique investors, with 45 investors ultimately participating in the transaction including major mutual funds, SMAs, hedge funds, arbitrage accounts, and insurance companies. The Firm generated over $963.455 million of total orders (8.9x oversubscription) with greatest investor support in years 2034-2039 and 2045-2046. As a result of the robust investor demand, spreads were tightened by 3-13 bps in the front end of the curve (2027-2036 maturities) and by 6-15 bps in the middle part of the curve (2037-2046 maturities). Overall, the transaction provided the Institution with $8.433 million of PV savings or 7.20% of the refunded par amount.

On July 22, 2026, Loop Capital Markets (the “Firm”) served as Sole Manager and Remarketing Agent on Orlando Utilities Commission’s (“OUC”) $125.565 million Utility System Revenue Bonds, Series 2026B-2. The financing was supported by a TD Bank standby bond purchase agreement with short-term ratings of A-1 by S&P (underlying rating of AA) and VMIG1 by Moody’s (underlying rating of Aa2).

The Series 2026B-2 Bonds are variable rate demand bonds (“VRDBs”) in a daily mode. Proceeds will be used to finance, or reimburse for, all or a portion of the costs of the acquisition, construction, equipping, and installation of certain capital projects for the system, while retaining variable rate exposure to hedge OUC’s significant portfolio of short-term investments.

The Firm’s short-term desk proactively engaged 20 investors representing money market funds, bond funds, ETFs, SMAs, insurance, and hedge funds. 12 investors approved the credit, 10 of which participated in the inaugural remarketing, including all five current buyers of OUC VRDBs. Leading up to pricing, SIFMA was volatile given inflationary headwinds from the Iran conflict coupled with potential mitigating FOMC action. The bonds were successfully remarketed at a rate of 2.40% at par, equivalent to SIFMA minus 15 bps.

On July 9, 2026, Loop Capital Markets served as a co-manager on a $25.5 million follow-on offering (including the greenshoe) for Gloo Holdings, Inc.

Use of proceeds are earmarked for general corporate purposes, working capital, acquisition financing, debt repayment and capital expenditure.

On June 10, 2026, Loop Capital Markets served as a co-manager on a $4.3 billion mandatory convertible preferred stock offering (including the greenshoe) for Super Micro Computer, Inc.

Use of proceeds are earmarked for general corporate purposes, working capital, debt repayment and capital expenditure.

On June 10, 2026, Loop Capital Markets served as a co-manager on a $1.4 billion follow-on offering (including the greenshoe) for Super Micro Computer, Inc.

Use of proceeds are earmarked for general corporate purposes, working capital, debt repayment and capital expenditure.