On June 28, 2021, Loop Capital Markets acted as a co-manager on a two-tranche $800 million (FABN) for Brighthouse Financial Global Funding. The bonds are rated A3/A+ across 2- and 7-year tranches.
Use of proceeds are earmarked to purchase the Relevant Funding Agreement from BLIC which BLIC will use for general corporate purposes.
On June 23, 2021, Loop Capital Markets acted as a co-manager on a $500 million senior unsecured bond offering for Welltower Inc. The 10-year bond is rated Baa1/BBB+.
Use of proceeds are earmarked for general corporate purposes, including repayment of debt and investing in health care and seniors housing properties.
On June 23, 2021, Loop Capital Markets acted as a co-manager on a two-tranche $2.50 billion Fixed/Floating rate bond offering for JPMorgan Chase & Co. The bonds are rated A2/AA- across 4-year tranches.
Use of proceeds are earmarked f0r general corporate purposes which may include investments in subsidiaries, payments of dividends, and extensions of credit to JP Morgan Chase & Co. subsidiaries. Proceeds may also contribute to financing possible acquisitions or business expansion.
On June 22, 2021 Loop Capital Markets acted as a co-manager on a $1 billion senior unsecured bond offering for Ford Motor Credit Company LLC. The 10-year bond is rated Ba2/BB+.
Use of proceeds are earmarked to Ford Credit general funds and will be available for the purchase of receivables, loans, and for use in connection with the retirement of debt.
On June 22, 2021 Loop Capital Markets acted as a co-manager on a two-tranche $450 million (FMB) offering for Ameren Illinois Company. The bonds are rated A1/A across 2- and 30-year tranches.
Use of proceeds are earmarked to repay a portion of Ameren Illinois Company’s short-term debt and for general corporate purposes.
On June 22, 2021, Loop Capital Markets served as a co-manager on a $440 million (IPO) for First Advantage Corporation.
Use of proceeds are earmarked to repay $200 million in outstanding indebtedness and for general corporate purposes.
On June 21, 2021, Loop Capital Markets acted as a co-manager on a 3-tranche $2.50 billion senior unsecured bond offering for Martin Marietta Materials, Inc. The bonds are rated Baa3/BBB/BBB- across 2-, 10-, and 30-year tranches.
Use of proceeds are earmarked for general corporate.
On June 9, 2021, Loop Capital Markets acted as a co-manager on a $500 million Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock offering for DTCC.
Use of proceeds are earmarked to fund the redemption of all of the outstanding shares of Series C Preferred Stock and for general corporate purposes.
On June 9, 2021, Loop Capital Markets acted as a co-manager on a 3-tranche $1.375 billion first and refunding mortgage bond offering for Southern California Edison Company. The bonds are rated A3/A-/BBB+ across 1-, 10-, and 30-year tranches.
No more than 50% of proceeds from the Sustainability bond tranches will be used to finance or refinance existing eligible projects; the remainder will be used for future eligible projects.
On June 9, 2021, Loop Capital Markets remarketed on behalf of Williams College (the “College”) the $50.470 million Massachusetts Development Finance Agency Variable Rate Revenue Bonds, Williams College Issue, Series N (2011). The Bonds were rated Aa1 / AA+ by Moody’s and S&P, respectively. The College elected to remarket the Bonds into a new 4-year mandatory hard put to (i) lower interest cost while maintaining optionality within the portfolio and (ii) retain an optimal debt mix. Market conditions were favorable with 12 straight weeks of positive municipal fund flows, heightened reinvestment and redemption cash in June compared to prior months, and the 4-year MMD 11 basis points (“bps”) lower than the previous remarketing in February 2021.
Upon release of the Preliminary Remarketing Circular, the Firm began the pre-marketing process and conducted an investor analysis, identifying 13 underrepresented investors and Massachusetts-domiciled buyers as potential investor targets. The Firm received orders from eight existing holders, three underrepresented investors, four Massachusetts-domiciled investors and nine top higher education institutional investors. Due to strong investor subscription with $725 million in going away orders from 20 accounts, the College achieved one of the lowest spreads for higher education put bond financings at 11 bps, a 14 bp reduction compared to the College’s Series I remarketing in February at 25 bps.
