Loop Capital Markets participates as co-manager on Hess Midstream’s $145 million common stock offering

On March 11, 2021, Loop Capital Markets served as a co-manager on Hess Midstream’s offering of $145 million of common stock. The selling shareholders sold all the common stock being issued in this offering. Accordingly, Hess Midstream did not receive any proceeds from the sale of common stock in this offering.

Loop Capital Markets serves as Senior Manager for the New York City Municipal Water Finance Authority’s (“NYW”) $574.8 million Second Resolution Revenue Bonds, Fiscal 2021 Series DD

The New York City Municipal Water Finance Authority (“NYW”) priced $574.8 million of Second Resolution Revenue Bonds, Fiscal 2021 Series DD refunding bonds on Wednesday, March 10, 2021 with Loop Capital Markets serving as senior manager. The bond sale period comprised of a one-day retail order period (“ROP”) on Tuesday, March 9 and an institutional order period (“IOP”) on Wednesday, March 10. The transaction was priced during volatile market conditions with the 10-year MMD having increased by 42 bps from February 10 (year-to-date low) to March 8 and was the second largest transaction for the week.

The ROP generated a record high of $990.4 million in orders for NYW, of which Loop Capital Markets submitted $958.3 million. This was a record for NYW. After the ROP, several maturities were closed and $207.5 million was offered for the IOP. The IOP generated $3.5 billion in priority orders across a wide range of account types, including mutual funds, bank portfolios, money managers, insurance companies, and arbitrage accounts. The Firm employed a unique pricing strategy in which it held back $15 million of the 2025 maturity and $20 million of the 2029 maturity during the ROP, so that portions of those maturities sold during the ROP could also be repriced in the IOP. Final yields were reduced from the ROP by 10 to 17 bps and the Firm was able to achieve the tightest spreads for NYW. After the final repricing, NYW received $3.8 billion in orders from a broad investor base with the transaction being more than 6.7x oversubscribed. The refunding generated $185.1 million, or 25.8% PV savings, $203.3 million of cashflow savings, and a TIC of 1.21% for NYW.

Loop Capital Markets acts as co-manager on a $25 billion senior unsecured bond offering for Verizon

On March 10, 2021, Loop Capital Markets acted as a co-manager on a nine-tranche, $25 billion senior unsecured bond offering for Verizon. The bonds are rated Baa1/BBB+/A- across 3- 5- 7- 10- 20- 30- 40-year tranches.

Use of proceeds are earmarked for general corporate purpose which may include the completion of previously announced acquisitions, the acquisition of spectrum licenses and, depending on market and other conditions, the repayment of outstanding indebtedness.

Loop Capital Markets participates as co-manager on SJW Group’s $61 million common stock offering

On March 9, 2021, Loop Capital Markets served as a co-manager on SJW Group’s offering of $61 million of common stock. SJW Group intends to use the net proceeds from this offering to repay indebtedness and for general corporate purposes.

Loop Capital Markets acts as co-manager on a $1 billion senior unsecured bond offering for AmFam Holdings, Inc.

On March 8, 2021, Loop Capital Markets acted as a co-manager on a two-tranche, $1 billion, senior unsecured bond offering for AmFam Holdings, Inc. The bonds are rated Baa1/BBB across 10- and 30-year tranches.

Use of proceeds are earmarked for repaying debt.

Loop Capital Markets acts as co-dealer manager on a $8.25 billion debt exchange for Union Pacific Corporation

On March 8, 2021, Loop Capital Markets acted as a co-dealer manager on a $1.75 billion exchange bond offering. The new notes will be due in 2036 and 2071.

Loop Capital Markets acts as co-agent on a $100 million private placement offering for Aqua Ohio

On March 4, 2021, Loop Capital Markets acted as a co-agent on a $100 million, private placement offering for Aqua Ohio. The private placement is due in 2031 and 2051.

Loop Capital Markets participates as co-manager on the $300 million initial public offering of special purpose acquisition company (“SPAC”) Atlantic Coastal Acquisition Corp.

On March 4, 2021, Atlantic Coastal Acquisition Corp. raised $300 million in an initial public offering by issuing 30 million units at an offering price of $10.00 per unit. Each of the 30 million units has an offering price of $10.00 and consists of one share of Class A common stock and one-third of one Redeemable Warrant.

Atlantic Coastal Acquisition Corp. intends to deposit all the net proceeds from this offering into a trust account. The proceeds will not be released until the earliest to occur of: the completion of an initial business combination, the redemption of the public shares issued in this offering if unable to complete an initial business combination within 24 months from the closing of this offer, and the redemption of any public shares properly submitted in connection with a shareholder vote to approve an amendment to the amended and restated memorandum and articles of association that would modify the substance and timing of the obligation to redeem 100% of the public shares if Atlantic Coastal Acquisition Corp. does not complete an initial business combination within the completion window.

Loop Capital Markets acts as co-manager on a $400 million senior unsecured sustainability bond offering for Aflac Incorporated

On March 3, 2021, Loop Capital Markets acted as a co-manager on a $400 million, senior unsecured sustainability bond offering for Aflac Incorporated. The 5-year senior unsecured sustainability bond is rated A3/A-.

Use of proceeds are earmarked for eligible sustainability investments.

Loop Capital Markets acts as co-manager on a €1.50 billion bond offering for Eaton Capital

On March 3, 2021, Loop Capital Markets acted as a co-manager on a two-tranche, €1.50 billion bond offering for Eaton Capital. The bonds are rated Baa1/A-/BBB+ across 5- and 9-year tranches.

Use of proceeds are earmarked for general corporate purpose.