On July 18, 2024, Loop Capital Markets acted as a co-manager on a two-tranche, $1.1 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 July 17, 2024, Loop Capital Markets served as a co-manager on a $221 million IPO (including the green shoe) for Ardent Health Partners, Inc.
Use of proceeds are earmarked for general corporate purposes, capital expenditure, working capital and acquisition financing.
On July 17, 2024, Loop Capital Markets acted as a co-manager on a three-tranche, $2.5 billion senior unsecured notes offering for BlackRock Funding, Inc. The bonds are rated Aa3/AA- across 3-, 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes, debt repayment and acquisition financing.
On July 17, 2024, Loop Capital Markets acted as a co-manager on a $3.3 billion MTN offering for Morgan Stanley. The 11-year bond is rated A1/A-/A+.
Use of proceeds are earmarked for general corporate purposes.
On July 15, 2024, Loop Capital Markets acted as a co-manager on a two-tranche, $600 million senior unsecured notes offering for The Brooklyn Union Gas Company. The bonds are rated Baa2/BBB+/BBB+ across 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On July 15, 2024, Loop Capital Markets acted as a co-manager on a three-tranche, $2.3 billion senior unsecured notes offering for PepsiCo, Inc. The bonds are rated A1/A+ across 5-, 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On July 9, 2024, Loop Capital Markets acted as a co-manager on a $1 billion convertible securities offering (including the green shoe) for Welltower OP LLC. The notes have a 5-year tenor.
Use of proceeds are earmarked for general corporate purposes.
On July 8, 2024, Loop Capital Markets acted as a co-manager on a three-tranche, $3.8 billion fixed/floating rate senior callable notes offering for Banco Santander, S.A. The bonds are rated A2/A+/A across 4- and 7-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On June 27, 2024, Loop Capital Markets acted as a co-manager a two-tranche, $1.5 billion fixed-to-fixed reset rate senior callable notes offering for Mizuho Financial Group, Inc. The bonds are rated A1/A- across 6- and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On June 26, 2024, Loop served as a Bookrunning Senior Manager for the City of Los Angeles’ $1.54 Billion 2024 Tax and Revenue Anticipation Notes (tax-exempt, Non-AMT) – rated MIG 1 and SP-1+ by Moody’s and S&P, respectively. Proceeds of the notes will be used to provide effective cash flow management for revenues and expenditures of the City’s General Fund for Fiscal Year 2024-25 and make the City’s Fiscal Year 2024-25 annual contribution payments to the Los Angeles Fire and Police Pension Plan and the Los Angeles City Employees’ Retirement System.
The TRANs sale was accomplished in the wake of a high-volume week (over $11.7 billion of competing new issue supply), competing products like VRDB and CP with rates around 4%, and during a time where the municipal market lacked direction (MMD had 6 consecutive sessions with no change up until pricing). Our desk’s aggressive posture – from pre-marketing to pricing, spot-on assessment of the market, and the Firm’s robust marketing efforts resulted in over $1.6 billion in orders (1.1x subscription). Ultimately, the City achieved a yield of 3.42%.
