On September 7, 2023, Loop Capital Markets acted as a senior co-manager on a two-tranche, $2 billion senior unsecured notes offering for Gilead Sciences, Inc. The bonds are rated A3/BBB+ across 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On September 6, 2023, Loop Capital Markets acted as a co-manager on a $1.3 billion fixed/floating rate senior callable notes offering for Barclays PLC. The bonds are rated Baa1/BBB+/A across 6-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On September 5, 2023, Loop Capital Markets acted as a co-manager on a two-tranche, $2 billion senior unsecured notes offering for Sumitomo Mitsui Financial Group, Inc. The bonds are rated A1/A- across 5- and 10-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On September 5, 2023, Loop Capital Markets acted as a co-manager on a three-tranche, $1.8 billion MTN offering for Toyota Motor Credit Corporation. The bonds are rated A1/A+/A+ across 2- and 5-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On September 5, 2023, Loop Capital Markets was mandated as an active co-manager on a two-tranche, $1.4 billion green FMB offering for MidAmerican Energy Company. The bonds are rated Aa2/A+ across 10- and 30-year tranches.
Use of proceeds are earmarked for financing or refinancing eligible green investments.
On August 16, 2023, Loop Capital Markets acted as a co-manager on a $350 million senior unsecured notes offering for Assured Guaranty US Holdings, Inc. The bonds are rated Baa1/A across 5-year tranches.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On August 14, 2023, Loop Capital Markets acted as a co-manager on a $1.5 billion perpetual preferred stock offering for Goldman Sachs Group, Inc. The securities are rated Ba1/BB+/BBB.
Use of proceeds are earmarked to redeem outstanding securities and for general corporate purposes.
On August 14, 2023, Loop Capital Markets acted as a co-manager on a $750 million senior unsecured notes offering for Otis Worldwide Corporation. The bonds are rated Baa1/BBB across 5-year tranches.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On August 10, 2023, Loop Capital Markets acted as a co-manager on a five-tranche, $5.3 billion senior unsecured notes offering for ONEOK Inc. The bonds are rated Baa2/BBB across 3-, 5-, 7-, 10- and 30-year tranches.
Use of proceeds are earmarked for general corporate purposes and acquisition financing.
On August 9, 2023, Loop Capital Markets served as the Book Running Senior Manager for the City of New York’s $1.02 billion General Obligation Bonds, Fiscal 2024 Series A (New Money) and Fiscal 2012 Series G Subseries G-5 (Reoffering) (the “Bonds”). The transaction was the largest negotiated tax-exempt transaction of the week. The Bonds are rated Aa2/AA/AA/AA+ by Moody’s, S&P, Fitch and Kroll, respectively, with all stable outlooks. The Bonds were issued to finance general City capital expenditures and to convert floating rate debt to fixed rate debt.
In preparation for the pre-marketing process, an investor presentation was created and was ultimately viewed by 58 investors. The Firm conduced a one-day Retail Order Period (“ROP”) where a total of $789.11 million of retail orders were received of which $683.29 million were submitted by Loop Capital Markets. After the ROP, the City entered the market with $742.215 million of bonds offered for the Institutional Order Period (“IOP”). Despite the overall significant New York supply over the last month, Loop Capital’s salesforce produced $5.6 billion of institutional and professional retail orders. Overall, the City received $5.8 billion of retail and institutional orders, and the transaction was oversubscribed by 6.1x.
Due to strong subscription levels, the Firm was able to tighten spreads by up to 12 bps depending on the maturity from ROP to final pricing. The 2032 maturity had an unsold balance of $20 million, which was underwritten by the Firm.
