On November 13, 2019, Loop Capital Markets acted as a co-manager in a single-tranche, $500 million, senior unsecured bond offering of Aon PLC. The notes are rated Baa2/A- across a 3-year tenor.
Aon intends to use the net proceeds of the offering for general corporate and refinancing purposes.
On November 13, 2019, Loop Capital Markets participated as a co-manager in a three-part, $2.0 billion, senior unsecured bond offering of Enbridge Inc. The notes are rated Baa2/BBB+ across 30-year, 10-year and 5-year tenors.
Enbridge intends to use the net proceeds of the offering for general corporate and refinancing purposes.
On November 6, 2019, Loop Capital Markets served as a joint bookrunner in a single-part, $1.5 billion, first-lien bond offering of Cheniere Corpus Christi Holdings LLC. The notes are rated Ba1/BBB- across a 10-year tenor.
Cheniere intends to use the net proceeds of the offering for refinancing purposes.
On November 5, 2019, Loop Capital Markets served as senior manager for the $150 million of Water Development Revenue Bonds, Fresh Water Series 2019, rated Aaa/AAA by Moody’s and S&P. The transaction had a 25-year final maturity with an average life of 18 years; the yield-to-call for the transaction was 2.092% and the yield-to-maturity was 3.060%. 26 investors participated in the transaction including an international bank portfolio. Buyers primarily consisted of real money accounts led by bond funds followed by property/trading, SMAs, insurance companies, among others.
On November 5, 2019, Columbia College Chicago (the “College”) sold the $18,035,000 Illinois Finance Authority Revenue Bonds, Columbia College Chicago, Series 2019 the (the “2019 Bonds” or the “Bonds”) with Loop Capital Markets as sole manager. The Bonds were rated BBB+ (Stable) by S&P. Proceeds of the financing were used to (i) finance, refinance or reimburse the College for all or a portion of the costs related to its new Student Center (that opened in September 2019) and (ii) pay costs of issuance.
The 2019 Bonds are secured by a gross revenue pledge and issued on parity with the College’s outstanding Bonds. The 2019 Bonds were structured with a 30-year final maturity with level debt service amortization in years 2025 to 2049 after a 5-year interest-only period. The transaction generated an All-In TIC of 4.179% and an average life of 20.571 years. Buyers of the transaction were all bond funds.
On October 29, 2019, Loop Capital Markets served as a co-manager in a three-tranche, $4.750 billion, senior unsecured bond offering of Comcast Corporation. The notes are rated A3/A- across 30.25-year, 20-year and 10.25-year tenors.
Comcast intends to use the net proceeds of the offering for refinancing purposes.
On October 29, 2019, Loop Capital Markets served as a co-manager in a perpetual preferred share offering of Northern Trust Corporation. The preferred shares are rated Baa1/BBB+.
Northern Trust Corporation intends to use the net proceeds of the offering for refinancing purposes.
On October 28, 2019, Loop Capital Markets participated as a co-manager in a single-part, $2.250 billion, senior unsecured bond offering of Citigroup Incorporated. The notes are rated A3/BBB+/A across an 11-year tenor.
Citigroup intends to use the net proceeds of the offering for general corporate purposes.
On October 28, 2019, Loop Capital Markets participated as a co-manager in a three-tranche, $1.0 billion, senior unsecured bond offering of The Hershey Company. The notes are rated A1/A/A across 30-year, 10-year and 5-year tenors.
The Hershey Company intends to use the net proceeds of the offering to repay a portion of the acquisition financing consideration used for ONE Brands.
On October 15, 2019, Loop Capital Markets participated as a co-manager in a single-part, $500 million senior unsecured bond offering of CCO Holdings, LLC/CCO Holdings Capital Corporation (subsidiaries of Charter Communications Inc.)
The notes are unrated across a 10.5-year tenor.
Charter intends to use the net proceeds of the offering for general corporate and refinancing purposes.
