Loop Capital Markets as co-manager on $500 million first mortgage bond (FMB) offering for Consumers Energy Company

On July 31, 2023, Loop Capital Markets acted as a co-manager on a $500 million FMB offering for Consumers Energy Company. The 6-year bond is rated A1/A/A+.

Use of proceeds are earmarked for general corporate purposes.

Loop Capital Markets mandated as active book-runner on $1.5 billion senior unsecured fixed/floating rate notes offering for State Street Corporation

On July 31, 2023, Loop Capital Markets was mandated as an active book-runner on a two-tranche, $1.5 billion senior unsecured fixed/floating rate notes offering for State Street Corporation. The bonds are rated A1/A/AA- across 3-year tranches. This transaction marks State Street’s third trip to the USD bond market in 2023, and Loop’s second mandate as an active book-runner on a State Street Corporation debt offering,

Use of proceeds are earmarked for general corporate purposes.

Loop Capital Markets as co-manager on $600 million senior unsecured notes offering for Ares Capital Corporation

On July 27, 2023, Loop Capital Markets acted as a co-manager on a $600 million senior unsecured notes offering for Ares Capital Corporation. The 3-year bond is rated Baa3/BBB-/BBB.

Use of proceeds are earmarked for general corporate purposes and debt repayment.

Loop Capital Markets as co-manager on $2 billion senior unsecured notes offering for Waste Management, Inc.

On July 27, 2023, Loop Capital Markets acted as a co-manager on a two-tranche, $2 billion senior unsecured notes offering for Waste Management, Inc. The bonds are rated Baa1/A-/BBB+ across 5- and 10-year tranches.

Use of proceeds are earmarked for general corporate purposes and debt repayment.

Loop Capital Markets as co-manager on $411 million asset-backed securities (ABS) offering for Amherst Residential

On July 21, 2023, Loop Capital Markets acted as a co-manager on a $411 million ABS offering for Amherst Residential Mortgage Trust  (AMSR 2023-SFR2). The bonds mature in 5-years across 8 classes.

Use of proceeds are earmarked for general corporate purposes

Loop Capital Markets as lead-manager on $2 billion fixed/floating rate notes offering for Morgan Stanley Bank, N.A.

On July 19, 2023, Loop Capital Markets acted as a lead-manager on a two-tranche, $2 billion fixed/floating rate notes offering for Morgan Stanley Bank, N.A. The bonds are rated Aa3/A+/AA – across 2-year tranches.

Use of proceeds are earmarked for general corporate purposes.

Loop Capital Markets as senior co-manager on $1.7 billion fixed rate reset non-cumulative perpetual preferred stock offering for Wells Fargo & Company

On July 17, 2023, Loop Capital Markets acted as a senior co-manager on a $1.7 billion fixed rate reset non-cumulative perpetual preferred stock offering for Wells Fargo & Company. The securities are rated Baa2/BB+/BBB.

Use of proceeds are earmarked for general corporate purposes.

Loop Capital Markets served as Bookrunning Senior Manager for Texas Southern University’s (the “University”) $80.680 million Revenue Financing System Bonds, Series 2023

On July 11, 2023, Texas Southern University priced its $80.680 million Revenue Financing System Bonds, Series 2023 with Loop Capital Markets serving as the bookrunner for the financing. The Bonds have a rating of BBB+ by Fitch with an enhanced rating of AA by S&P. They are structured as serial maturities amortizing from May 1, 2024, to May 1, 2042 – 5.000% coupons from 2024-2033, and 5.250% coupons from 2034-2042. Bond proceeds will be used to provide funds to the Board of Regents to construct the Nabrit Science Building, the Catalyst for Urban Transformation, and health and wellness center, to upgrade signage and wayfinding, and to pay costs of issuance of the Bonds.

The market experienced a heavy supply of Texas paper following a muted holiday week with an anticipated Texas supply of over $2 billion. Loop Capital Markets developed a comprehensive marketing plan for the University and TPFA that capitalized off the anticipated supply. The strategy involved contacting more than 45 accounts which included current holders and potential targets of comparable credits.

The transaction was sponsored primarily by Bond Funds (62%) with seven investors submitting orders in excess of $40 million, including one account that submitted orders equivalent to the size of the entire transaction. Long-dated 5.250% coupon maturities garnered the greatest attention among interested investors. Given the bond’s strong performance, the Firm was able to tighten spreads by up to 15 bps.  As a result, $98.130 million of priority orders were dropped, resulting in $660.700 million of priority orders after repricing, or 8.2x subscription.

Loop Capital Markets as co-manager on $1.3 billion senior non preferred notes offering for Deutsche Bank AG – New York

On July 6, 2023, Loop Capital Markets acted as a co-manager on a $1.3 billion senior non preferred notes offering for Deutsche Bank AG – New York. The 4-year bond is rated Baa1/BBB-/A-.

Use of proceeds are earmarked for general corporate purposes.

Loop Capital Markets as co-manager on $500 million senior unsecured notes offering for Prologis, L.P.

On June 26, 2023, Loop Capital Markets acted as a co-manager on a three-tranche, $500 million senior unsecured notes offering for Prologis, L.P. The bonds are rated A3/A across 5-, 10- and 30-year tranches.

Use of proceeds are earmarked for general corporate purposes and acquisition financing.