On September 15, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $750 million, junior subordinated bond offering for Southern Company. The 30 year junior subordinated bond is rated Baa1/A-.
Use of proceeds are earmarked for redeeming previous bonds and repaying a previous term loan. Any remaining net proceeds will be used for other general corporate purposes.
On September 15, 2020 announced the results of early tenders in its 3 pools of Exchange Offers and priced the New Notes which will be due in 2053. Loop Capital Markets acted as a dealer-manager on the exchange offer.
On September 14, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $300 million, floating rate senior bond offering for Southern California Gas. The 3 year floating rate senior bond is rated A2/A+.
Use of proceeds are earmarked for general corporate purposes, including repayment of commercial paper.
On September 11, 2020, TWC Tech Holdings II raised $600 million in an initial public offering by issuing 60 million units at an offering price of $10.00 per unit. Each of the 60 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. Loop Capital Markets served as a co-manager on the deal.
TWC Tech 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 the completion window, and the redemption of any public shares properly submitted in connection with a stockholder vote to amend the amended and restated certificate of incorporation to modify the substance and timing of the obligation to redeem 100% of the public shares if TWC Tech Holdings II does not complete an initial business combination within the completion window.
On September 9, 2020, Loop Capital Markets acted as a co-manager on a two-tranche, $1 billion,senior unsecured bond offering for Duke Energy Corporation. The notes are rated Baa1/BBB+across 5- and 10 year tranches.
Use of proceeds are earmarked for repaying outstanding commercial paper, a term loan due March 2021 and general corporate purposes.
On September 9, 2020, Loop Capital Markets acted as a co-manager on a two-tranche, $1.75 billion, medium-term bond offering for Caterpillar Financial Services. The notes are rated A3/A across 3- and 7 year tranches.
Use of proceeds are earmarked for general corporate purposes.
On September 9, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $1 billion, fixed-floating rate bond offering for JPMorgan & Chase. The 7-year senior unsecured bond is rated A3/A+.
Use of proceeds are earmarked for funding eligible green projects.
On September 8, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $675 million, first mortgage bond offering for Entergy Arkansas. The 31 year first mortgage bond is rated A2/A.
Use of proceeds are earmarked for refinancing and general corporate purposes.
On September 8, 2020, Loop Capital Markets acted as a co-manager on a one-tranche, $600 million, senior unsecured bond offering for Kimberly-Clark Corporation. The 7 year senior unsecured bond is rated A2/A.
Use of proceeds are earmarked for the acquisition of Softex Indonesia
On September 2, 2020, the Columbus City School District (the “District”), sold its $36.645 million Various Purpose Taxable Refunding Bonds, Series 2020 (General Obligation – Unlimited Tax). The Bonds were rated Aa2 (Stable) / AA (Stable) by Moody’s and S&P, respectively. Bond proceeds were used to advance refund a portion of the District’s outstanding Series 2012, 2014 and 2014A General Obligation Bonds and to pay costs of issuance for the Bonds. The transaction had an overall subscription of 3.5x and due to strong investor interest, the Firm was able to tighten spreads up to seven basis points along the yield curve. The refunding generated the District $3.678 million of Net Present Value Savings or 7.784% of the refunded par amount.
