On July 12, 2022, Loop Capital Markets served as a co-manager on a $1.3 billion senior unsecured notes offering for Deutsche Bank AG. The 4-year bond is rated Baa2/BBB-/BBB+.

Use of proceeds are earmarked for general corporate purposes.

On July 11, 2022, Loop Capital Markets served as a co-manager on a $1.3 billion ABS offering for CarMax Auto Owner Trust (CARMX 2022-3). The CARMX 2022-3 Class A-1 notes are rated A-1+/F1+, 2022-3 Class A-2A notes are rated AAA/AAA, 2022-3 Class A-2B notes are rated AAA/AAA, 2022-3 Class A-3 notes are rated AAA/AAA, and 2022-3 Class A-4 notes are rated AAA/AAA across 1-, 3-, 5-, and 6-year tranches.

Use of proceeds are earmarked for general corporate purposes and the repayment of outstanding indebtedness.

On July 7, 2022, Loop Capital Markets served as a co-manager on a two-tranche, $600 million senior unsecured notes offering for Tampa Electric Co. The bonds are rated A3/BBB+ across 2- and 30-year tranches.

Use of proceeds are earmarked for general corporate purposes including the repayment of outstanding indebtedness under the company’s credit facilities.

On June 28, Loop Capital Markets (“Firm”) served as Senior Manager for a combined $280,845,000 offering of tax-exempt General Obligation Bonds issued by Sacramento City Unified School District (“District”), comprised of $225,000,000 Election of 2020 (Measure H), 2022 Series A Bonds (New Money) and $55,845,000 Refunding Bonds, (collectively, “the Bonds”) rated A3 (negative) by Moody’s, AA by S&P (based on BAM insurance), and AA (stable) by Kroll, respectively.

The Refunding Bonds current refunded the District’s 2012 GO Refunding Bonds, and the Series A Bonds were the first drawdown of the District’s $750 million Measure H authorization.

The Firm worked closely with the District’s Municipal Advisor to tailor the amortization of the Series A Bonds to give the District maximum flexibility for subsequent drawdowns of Measure H, keeping a keen eye on the $60 tax rate indicated to voters under Measure H. Both Loop and the District’s Municipal Advisor recommended applying for a Kroll rating due to our agreement with Kroll’s rating methodology for California K-12 GO Bonds, which focuses on an issuer’s underlying tax base ($40 billion AV in the case of the District), the statutory framework supporting the imposition, collection, and administration of voter-approved unlimited ad valorem tax levies, as well as the statutory lien and oversight mechanisms provided by State law. Our banking team recommended using an 8-year call for the Series A New Money Bonds to sync up with the District’s 2021 Bonds, setting up a potential future “consolidated current refunding.”

Following the posting of the POS, our bankers held a “teach in” call with our sales force to explain the ratings differential and to emphasize the very strong underlying security. To focus our premarketing efforts, we mapped out the top holders of the District’s 2012 GO Refunding Bonds (who will be refunded out), as well as the top holders of the District’s outstanding GO Bonds. Our underwriting desk added a discount 4% coupon and two 5.50% coupon Terms in response to reverse inquiry from an “anchor” order. Our sales force generated over $1 billion in orders from 38 unique accounts, including 12 previous investors and 26 new accounts compared to the District’s June 2021 sale. At the final pricing, the Refunding Bonds generated $4.7 million of gross taxpayer savings, or $3.8 million present value (6.38%). In support of our price views, the syndicate underwrote $21.2 million bonds (approximately 8% of the loan).

On June 28, 2022, Loop Capital Markets served as a co-manager on a $400 million senior unsecured notes offering for Pentair Finance S.A R.L. The 10-year bond is rated Baa3/BBB-.

Use of proceeds are earmarked to finance a portion of the Manitowoc Ice acquisition for approximately $1.6 billion, pay related fees and expenses, and for general corporate purposes.

On June 28, 2022, Loop Capital Markets served as a co-manager on a $300 million FABN offering for F&G Global Funding. The 3-year bond is rated A-/A-

Use of proceeds are earmarked for purchasing one or more funding agreements.

On June 27, 2022, Loop Capital Markets served as a co-manager on a $600 million FABN offering for Northwestern Mutual Global Funding. The 3-year bond is rated Aaa/AA+/AAA.

Use of proceeds are earmarked to purchase a Funding Agreement from Northwestern Mutual Life Insurance Company (FA Provider).

On June 21, 2022, Loop Capital Markets served as a co-manager on a three-tranche, $3 billion senior unsecured notes offering for KLA Corp. The bonds are rated A2/A- across 10-, 30- and 40-year tranches.

Use of proceeds are earmarked to purchase all 2024 Notes that are validly tendered, and together with cash on hand, along with borrowings under the company’s revolving credit facility, to repurchase $3.0 billion in shares of common stock in privately negotiated transactions.

On June 21, 2022, Loop Capital Markets served as a co-manager on a 4-tranche, $4 billion senior unsecured notes offering for NextEra Energy Capital Holdings, Inc. The bonds are rated Baa1/BBB+ across 2-, 3-, 5- and 10-year tranches.

Use of proceeds are earmarked for general corporate purposes to fund investments in energy and power projects.

On June 8, 2022, Loop Capital Markets (the “Firm”) served as the joint bookrunner for the city of Atlanta, Georgia’s (the “City”) $382.370 million Airport General Revenue Bonds, Series 2022AB (“Series 2022AB GARBs”) and the City’s $164.050 million Airport Passenger Facility Charge and Subordinate Lien General Revenue Bonds, Series 2022CD (“Series 2022CD PFC Bonds” and together with the Series 2022AB GARBs, the “Bonds”). All of the Bonds were rated Aa3 (Stable) / AA- (Stable) by Moody’s and Fitch, respectively.

The Bonds were issued to finance portions of the 2022 Project, which is comprised of new money projects related to the City of Atlanta’s 2026 Capital Plan (including renovations to runways, terminal, parking facilities and supporting infrastructure). The Series 2022AB GARBs had maturities from 2023 through 2052 while the Series 2022CD PFC Bonds had maturities from 2026-2042.

The Firm provided both superior banking coverage in anticipation of the financing (mandated for senior positions on consecutive GARB financings) and exceptional sales efforts during pre-marketing and marketing during a volatile pricing period. Benchmark tax-exempt and taxable rates rose considerably during the days leading up to pricing in anticipation of May’s CPI release on Friday, June 10. In total, the issue was 2.1x oversubscribed with heavy demand flow in the front end. MMD rose 10 bps, but despite the volatility, the Firm and the other senior manager were able to underwrite at or near pre-pricing levels for the AMT bonds and for some maturities of the Non-AMT bonds.

Across all series, over $44 million of priority orders were generated by the Firm. Serving as joint bookrunner, the Firm was allotted $11.4 million bonds across the 4 series. At the verbal award, the senior managers agreed to underwrite the offering with approximately $180 million in unsold balances. By end of day, the underwriting syndicate committed capital to inventory $39 million of bonds in certain maturities from 2028 to 2047. Undeterred by the daunting and volatile market, the Firm was willing to contribute a significant amount of capital on behalf of the issuer. Despite extremely difficult and volatile markets that saw interest rates increase by more than 60 bp on certain maturities, as 40 year inflation highs and a 75 bp increase by the Federal Reserve negatively impacted the market as well.