On January 22, 2024, Loop Capital Markets acted as a co-manager on a $600 million green FMB offering for MidAmerican Energy Company. The 30-year bond is rated Aa2/A.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On January 22, 2024, Loop Capital Markets acted as a co-manager on a $600 million FABN offering for New York Life Global Funding. The 5-year bond is rated Aaa/AA+/AAA.
Use of proceeds are earmarked for general corporate purposes.
On January 18, 2024, Loop Capital Markets acted as a co-manager on a two-tranche, $1.3 billion senior unsecured notes offering for Prologis, L.P. The bonds are rated A3/A across 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On January 17, 2024, Loop Capital Markets was mandated as a book-runner on a $500 million FMB offering for Air Lease Corporation. The 5-year bond is rated BBB/BBB.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On January 16, 2024, Loop Capital Markets was mandated as a lead-manager on a $2.3 billion fixed/floating rate notes offering for Morgan Stanley. The 5-year bond is rated A1/A-/A+.
Use of proceeds are earmarked for general corporate purposes.
On January 16, 2024, Loop Capital Markets acted as a co-manager on a $1 billion senior unsecured notes offering for Ares Capital Corporation. The 5-year bond is rated Baa3/BBB-/BBB.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On January 16, 2024, Loop Capital Markets acted as a co-manager on a two-tranche, $5.8 billion FMB offering for Wells Fargo & Company. The bonds are rated A1/BBB+/A+ across 6- and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On January 16, 2024, Loop Capital Markets acted as a co-manager on a four-tranche, $8.5 billion senior unsecured notes offering for JPMorgan Chase & Co. The bonds are rated A1/A-/AA- across 5-, 6- and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On January 10, 2024, Loop Capital Markets acted as a co-manager on a $1.5 billion ABS offering for General Motors Financial Company, Inc.’s (GMCAR Automobile Receivables Trust 2024-1). The bonds mature in 1-, 3- and 5-years across 4 classes.
Use of proceeds are earmarked for general corporate purposes.
On January 9, 2024, the Community College District Number 508 (City Colleges of Chicago) (the “District”) sold its $186.565 million Unlimited Tax General Obligation Refunding Bonds (Dedicated Revenues), Series 2024 (the “Bonds”) with Loop Capital Markets serving as Bookrunning Senior Manager. The Bonds had underlying ratings of BBB+/A+ by S&P and Fitch, respectively, and an insured rating of AA by S&P. The Bonds were issued to refund the District’s Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2013, pay the premium for the Bond Insurance Policy, and pay costs of issuance of the Bonds. The transaction was insured by Build America Mutual Assurance Company.
Working in conjunction with the District’s finance team, the Firm crafted an investor presentation, which was viewed by 53 investors. Loop Capital Markets provided an institutional holders analysis to the District to identify investor targets. Throughout the pre-marketing process, the Firm provided the District with investor feedback, including investors expected to place orders and the rationale from non-participating accounts. The Firm’s strong distribution capabilities led to a successful institutional order period with $1.195 billion in orders being submitted resulting in 6.4x oversubscription.
Given favorable market conditions, the Firm decided to accelerate pricing by one day. Due to strong investor demand, spreads were tightened between 3 and 11 basis points. Ultimately, the Bonds achieved an All-In TIC of 3.924% and generated $25.534 million in present value savings or 12.362% of the refunded bonds.
