On February 22, 2021, Loop Capital Markets acted as a co-manager on a two-tranche, $1.75 billion, medium term bond offering for Caterpillar Financial Services Corporation. The bonds are rated A3/A/A across 2- and 5-year tranches.
Use of proceeds are earmarked for general corporate purpose.
On February 18, 2021, Loop Capital Markets acted as a co-manager on a three-tranche, $337 million, senior secured recovery bond offering for Southern California Edison (SCE). The bonds are rated Aaa/AAA/AAA across 12- 19- and 24-year tranches.
Use of proceeds are earmarked for reimbursing SCE for previously incurred recovery costs, including the retirement of related debt.
On February 16, 2021, Loop Capital Markets acted as a co-manager on a two-tranche, $2 billion, senior bond offering for Mizuho Financial Group Inc. The bonds are rated A1/A- across 6- and 11-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On February 10, 2021, Loop Capital Markets acted as a co-manager on a one-tranche, $800 million, fixed to floating bond offering for Goldman Sachs. The 5-year fixed to floating bond is rated A2/BBB+.
On February 10, 2021, Loop Capital Markets acted as a co-manager on a one-tranche, $750 million, senior unsecured bond offering for Ford Motor Credit Company LLC. The 7 year senior unsecured bond is rated Ba2/BB+.
Use of proceeds are earmarked for general corporate purpose.
On February 9, 2021, Loop Capital Markets acted as a co-manager on a one-tranche, €600 million, senior unsecured bond offering for Becton Dickinson. The 15-year senior unsecured bond is rated Baa3/BBB/BBB-.
Use of proceeds are earmarked for repaying the $600 million 0.174% Euro Notes.
On February 9, 2021, Loop Capital Markets acted as a co-manager on a one-tranche, $1 billion, fixed to floating bond offering for JPMorgan Chase & Co. The 4-year fixed to floating bond is rated A2/A.
Use of proceeds are earmarked for funding eligible social projects.
On February 8, 2021, Loop Capital Markets acted as a co-manager on a one-tranche, $1 billion, senior unsecured bond offering for Becton Dickinson. The 10-year senior unsecured bond is rated Baa3/BBB/BBB-.
Use of proceeds are earmarked for repaying the entire $1.0 billion aggregate principal amount outstanding of the 3.125% Notes due 2021.
On February 3, 2021, the Washington Health Care Facilities Authority (the “Authority”) and Seattle Care Cancer Alliance (“SCCA”) sold its $37.605 million Revenue Bonds, Series 2021 with Loop Capital Markets serving as private placement agent. The Bonds were rated A2 / A+ by Moody’s and Fitch, respectively. Bond proceeds were used to (i) finance, refinance or reimburse a portion of the costs of acquisition, construction, remodeling renovating and equipping of certain health care facilities owned and operated by SCCA, including reimbursing SCCA for a portion of the costs, (ii) redeem all the outstanding the Public Finance Authority’s $36.650 million Taxable Revenue Bonds, Series 2018A (Seattle Proton Center, LLC) and (iii) pay costs of issuance related to the Bonds.
Loop Capital Markets developed a marketing plan catered to SCCA, targeting 35 investors consisting of purchasers of the Series 2018A bonds and top holders of Seattle Cancer Care Alliance’s debt. All nine investors who submitted orders received allotments. Due to strong investor interest, the Firm was able to tighten spreads between 3 and 10 basis points along the curve between pre-pricing and final pricing. The Authority and SCCA achieved an All-In TIC of 2.843% with Net Present Value Savings of $11.813 million.
On February 2, 2021, Loop Capital Markets acted as a co-manager on a three-tranche, $9.825 billion, senior bond offering for Boeing. The bonds are rated Baa2/BBB- across 2- 3- and 5-year tranches.
Use of proceeds are earmarked for repaying borrowings.
