On March 9 & 10, 2026, Loop Capital Markets served as Bookrunning Senior Manager on the State of Ohio’s $358.710 million Common Schools (Tax-Exempt), Third Frontier Research and Development (Taxable), and Higher Education (Taxable) General Obligation Bonds, Series 2026A. The financing was rated Aaa (Stable), AAA (Stable), and AAA (Stable) by Moody’s, S&P, and Fitch, respectively. Proceeds of the transaction will be used for new money purposes for each of the respective series. $90 million of taxable bonds across two series amortized over 5 years from 2026 to 2031 with a make-whole call while $268.710 million of tax-exempt bonds amortized over 20 years from 2026 to 2045 with a 10-year par call. The 2031 maturity was bifurcated to fulfill a reverse inquiry for a 2.875% coupon, with all other maturities structured as 5% coupons.
Market conditions during pricing were volatile driven by inflationary concerns from rising oil prices attributed to the ongoing Middle East conflict. On Monday, March 9th, taxable indications of interest generated $251.130 million of orders corresponding to 2.8x oversubscription. The transaction was primarily sponsored by Bond Funds, Money Managers, and Insurance Companies. To appeal to Ohio-based municipalities (and Ohio-based asset managers on behalf of Ohio-based municipalities), the taxable series provided priority to such accounts with up to a 50% allotment by maturity. Notably, an Ohio-based asset manager on behalf of Ohio municipalities submitted nearly $46 million of orders. On Tuesday, March 10th, the tax-exempt order period generated $343.160 million of orders corresponding to 1.3x oversubscription. The transaction was primarily sponsored by SMAs, Prop/Trading, and Insurance Companies. In support of the transaction, Loop Capital Markets underwrote $26 million of tax-exempt bonds.
On March 5, 2026, Loop Capital Markets served as a co-manager on a $3.5 billion follow-on offering (including the greenshoe) for Medline Inc.
Selling shareholders will receive all of the net proceeds from the offering.
On March 5, 2026, Loop Capital Markets served as a co-manager on a $200 million follow-on offering for Ingram Micro Holding Corp.
Selling shareholders will receive all of the net proceeds from the offering.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a $500 million senior unsecured notes offering for Essential Utilities, Inc. The 10-year bond is rated Baa2/BBB+.
Use of proceeds are earmarked for general corporate purposes, debt repayment and acquisition financing.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a $600 million junior subordinated notes offering for Sierra Pacific Power Co. The 30-year bond is rated Baa3/BBB.
Use of proceeds are earmarked for general corporate purposes, debt repayment and capital expenditure.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a four-tranche, $8 billion fixed/floating rate senior unsecured notes offering for HSBC Holdings PLC. The bonds are rated A3/A-/A+ across 4-, 6-, and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a five-tranche, $6.5 billion senior unsecured notes offering for Baker Hughes Holdings LLC. The bonds are rated A3/A.
Use of proceeds are earmarked for general corporate purposes, debt repayment and acquisition financing.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a four-tranche, €3 billion senior unsecured euro notes offering for Baker Hughes Holdings LLC. The bonds are rated A3/A.
Use of proceeds are earmarked for general corporate purposes, debt repayment and acquisition financing.
On March 5, 2026, Loop Capital Markets acted as a co-manager on a two-tranche, €1.2 billion senior unsecured euro notes offering for Eaton Capital Unlimited Company. The bonds are rated A3/A- across 8- and 12-year tranches.
Use of proceeds are earmarked for general corporate purposes and acquisition financing.
On March 4, 2026, Loop Capital Markets acted as a co-manager on a six-tranche, $8.5 billion senior unsecured notes offering for Eaton Corporation. The bonds are rated A3/A- across 2-, 3-, 5-, 7-, 10-, and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes and acquisition financing.
