On June 16, 2020, Loop Capital Markets acted as a co-manager on a six-tranche, $8.925 billion, first mortgage bond offering for Pacific Gas and Electric Company. The notes are rated Baa3 across 2-, 7-, 11-, 20-, and 30-year tranches.
Use of proceeds are earmarked for the reorganization in accordance with the terms and conditions contained in the Plan of Reorganization.
On June 16, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $1.1 billion, senior unsecured bond offering for BorgWarner Inc. The 7-year note is rated Baa1/BBB+.
Use of proceeds are earmarked for repaying existing indebtedness which may include the redemption of 4.625% Senior Notes due 9/15/020 ($250mm o/s) and (ii) upon the successful consummation of the Delphi Transaction, to repay certain amounts outstanding under Delphi Technologies’ $1.25 billion senior secured credit facility; and the remainder for general corporate purposes.
On June 16, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $600 million, senior unsecured bond offering for Welltower Inc. The 10-year note is rated Baa1/BBB+.
Use of proceeds are earmarked for funding of tender offers and to repay advances under its unsecured term loan credit facility and, to the extent any proceeds remain, for general corporate purposes, including investing in health care and senior housing properties.
On June 11, 2020, School District 131 Kane County, Illinois (East Aurora) (the “District”) sold its $11.685 million General Obligation Lease Obligations (Alternate Revenue Source), Series 2020C (the “Obligations”). This third tranche was a continuation of the District’s $51.795 million General Obligation School Bonds and School Refunding Bonds, Series 2020AB that the Firm priced in mid-February 2020. Proceeds of the Obligations were used to (a) pay the costs of leasing the Indian Trail property for school purposes and any alterations, repairs and equipment and (b) pay costs associated with the issuance of the Obligations. The Obligations had an underlying rating of “A1” by Moody’s and were insured by Build America Mutual Assurance Company with a rating of “AA” by S&P.
On June 9, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $100 million, perpetual preferred offering for Associated Banc-Corp. The perpetual preferred is rated Baa3/BB.
Use of proceeds are earmarked for general corporate purposes.
On June 9, 2020, Piedmont Lithium raised $13 million by issuing 2.07 million American Depository Shares at an offering price of $6.30. Loop Capital Markets was a joint bookrunner of the offering.
Piedmont Lithium, an emerging lithium chemicals company focused on the development of its 100%-owned Piedmont Lithium Project in North Carolina, intends to use the net proceeds of the offering to continue development of the project.
On June 9, 2020, Loop Capital Markets acted as a co-manager on a three-tranche, $3.0 billion, senior unsecured bond offering for HP Inc. The notes are rated Baa2/BBB+ across 5- 7- and 10-year tranches.
Use of proceeds are earmarked for funding tender offers and for general corporate purposes.
On June 8, 2020, Loop Capital Markets acted as a co-manager on a 31 year, $700 million, first mortgage bond offering for Northern States Power Co. The bonds are rated Aa3/A+.
Use of proceeds are earmarked for financing or refinancing, in whole or in part, existing and future Eligible Green Expenditures.
On June 8, 2020, Loop Capital Markets acted as a co-manager on a 10 year, $750 million, senior unsecured bond offering for Magna International inc. The bond is rated A3.
Use of proceeds are earmarked for general corporate purposes, which may include capital expenditures and acquisitions.
On July 6, 2020, Loop Capital Markets acted as a co-manager on a two-tranche, $1.5 billion, floating rate, senior unsecured bond offering for Caterpillar Financial Services Corporation The notes are rated A3 across 2- and 3-year tranches.
Use of proceeds are earmarked for general corporate purposes.
