On August 3, 2020, Loop Capital Markets acted as a co-manager on a six-tranche, $10 billion, senior unsecured bond offering for Alphabet Inc. The notes are rated Aa2/AA+ across 5- 7- 10- 20- 30- and 40-year tranches.
Use of proceeds are earmarked for general corporate purposes which may include the repayment of outstanding debt sustainability tranches: To finance or refinance, in whole or in part, one or more new or existing Eligible Projects, as defined in the preliminary prospectus supplement.
On July 31, 2020, CC Capital and Neuberger Berman’s sponsored SPAC, CC Neuberger Principal Holdings II, raised $828 million in an initial public offering by issuing 82.8 million units at an offering price of $10.00 per unit. Each of the 82.8 million units has an offering price of $10.00 and consists of one share of Class A common stock and one-fourth of one Redeemable Warrant. Loop Capital Markets served as a co-manager on the deal.
CC Neuberger Principal Holdings II 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 offering, and the redemption of the public shares properly submitted in connection with a shareholder vote to approve an amendment to CC Neuberger Principal Holdings II’s amended and restated memorandum and articles of association that would affect the substance or timing of its obligation to provide for the redemption of its public shares in connection with an initial business combination or to redeem 100% of its public shares if an initial business combination doesn’t occur.
On July 29, 2020, Loop Capital Markets acted as a co-manager on an eleven-tranche, $290 million, single-family rental pass-through certificates deal for Amherst Residential LLC. The final distribution date for the certificates is 2025 and the ratings are as follows: Class A – AAA/Aaa, Class B – AAA/Aa3, Class C – AA/A3, Class D – A/Baa3, Class E-1 – BBB/NR, Class E-2 – BBB/NR, Class F – BB/NR, Class G – B/NR, Class H – NR/NR, Class I – NR/NR.
On July 27, 2020, Loop Capital Markets acted as a co-manager on a five-tranche, $11 billion, senior unsecured bond offering for AT&T. The notes are rated Baa2/A- across 8- 12- 23- 32- and 41-year tranches.
Use of proceeds are earmarked for general corporate purposes, including funding the cash consideration for concurrent tender offers of certain debt securities issued by AT&T made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated July 27, 2020.
On July 23, 2020, Loop Capital Markets acted as a co-manager on a two-tranche, $4.75 billion, floating rate bond offering for Bank of America Corporation. The notes are rated A2/A+ across 11- and 21-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On July 22, 2020, Vista Equity Partners Management LLC-backed Jamf Holding Corp. raised $538 million in an initial public offering by issuing 20.7 million shares at an offering price of $26.00. Loop Capital Markets served as a co-manager on the initial public offering.
Jamf, an enterprise management solution for Apple products, intends to use the net proceeds from this offering to repay indebtedness and for general corporate purposes.
On July 22, 2020, Bill Ackman and Pershing Square Capital Management’s sponsored SPAC, Pershing Square Tontine Holdings, raised $4 billion in an initial public offering by issuing 200 million units at an offering price of $20.00 per unit. Each of the 200 million units has an offering price of $20.00 and consists of one share of Class A common stock and one-ninth of one Redeemable Warrant. Loop Capital Markets served as a co-lead manager on the deal.
Pershing Square Tontine Holdings intends to deposit all the net proceeds from this offering into a trust account located in the United States.
The proceeds will not be released until the earliest to occur of: the completion of an initial business combination, the redemption of any shares of the Class A Common Stock issued in this offering that are properly submitted in connection with a stockholder vote to amend the amended and restated certificate of incorporation, and the redemption of the shares of Class A Common Stock issued in this offering if unable to complete an initial business combination.
On July 21, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $500 million, senior unsecured offering for Charter Communications Holdings, LLC. The 11 year senior unsecured bond is rated B1/BB.
Use of proceeds are earmarked for general corporate purposes, including to repay certain indebtedness under the Issuers’ existing senior notes and to fund potential buybacks of Class A common stock of Charter or common units of Charter Holdings.
On July 20, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $500 million, diversity and inclusion offering for Toyota Motor Credit Corporation. The 2 year diversity and inclusion bond is rated A1/A+.
Use of proceeds are earmarked for general corporate purposes.
On July 15, 2020, GoHealth, a marketplace for Medicare and Health Insurance plans, raised $914 million in an initial public offering by issuing 43.5 million shares at an offering price of $21.00. Loop Capital Markets served as a co-manager on the initial public offering.
The company intends to use the net proceeds from this offering to purchase newly-issued LLC interests from an associated entity and for merger-related expenses.
