On July 9, 2024, Loop Capital Markets acted as a co-manager on a $1 billion convertible securities offering (including the green shoe) for Welltower OP LLC. The notes have a 5-year tenor.
Use of proceeds are earmarked for general corporate purposes.
On July 8, 2024, Loop Capital Markets acted as a co-manager on a three-tranche, $3.8 billion fixed/floating rate senior callable notes offering for Banco Santander, S.A. The bonds are rated A2/A+/A across 4- and 7-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On June 27, 2024, Loop Capital Markets acted as a co-manager a two-tranche, $1.5 billion fixed-to-fixed reset rate senior callable notes 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 June 26, 2024, Loop served as a Bookrunning Senior Manager for the City of Los Angeles’ $1.54 Billion 2024 Tax and Revenue Anticipation Notes (tax-exempt, Non-AMT) – rated MIG 1 and SP-1+ by Moody’s and S&P, respectively. Proceeds of the notes will be used to provide effective cash flow management for revenues and expenditures of the City’s General Fund for Fiscal Year 2024-25 and make the City’s Fiscal Year 2024-25 annual contribution payments to the Los Angeles Fire and Police Pension Plan and the Los Angeles City Employees’ Retirement System.
The TRANs sale was accomplished in the wake of a high-volume week (over $11.7 billion of competing new issue supply), competing products like VRDB and CP with rates around 4%, and during a time where the municipal market lacked direction (MMD had 6 consecutive sessions with no change up until pricing). Our desk’s aggressive posture – from pre-marketing to pricing, spot-on assessment of the market, and the Firm’s robust marketing efforts resulted in over $1.6 billion in orders (1.1x subscription). Ultimately, the City achieved a yield of 3.42%.
On June 26, 2024, Loop Capital Markets served as a co-manager on a $869 million follow-on stock offering (including the green shoe) for Birkenstock Holding plc.
Selling shareholders will receive all of the net proceeds from the offering.
On June 25, 2024, Loop Capital Markets acted as a senior co-manager on a $600 million senior unsecured notes offering for Choice Hotels International, Inc. The 10-year bond is rated Baa3/BBB-.
Use of proceeds are earmarked for general corporate purposes, working capital and debt repayment.
On June 24, 2024, Loop Capital Markets acted as a co-manager on a three-tranche, $2.3 billion fixed/floating rate notes offering for Canadian Imperial Bank of Commerce. The bonds are rated A2/A-/AA- across 3- and 5-year tranches.
Use of proceeds are earmarked for general corporate purposes.
On June 24, 2024, Loop Capital Markets acted as a co-manager on a two-tranche, $1.5 billion senior unsecured notes offering for Waste Management, Inc. The bonds are rated A3/A-/A- across 3- and 7-year tranches.
Use of proceeds are earmarked for general corporate purposes and debt repayment.
On June 24, 2024, Loop Capital Markets acted as a co-manager on a $1.2 billion junior subordinated notes offering for Enbridge Inc. The 30-year bonds are rated Baa3/BBB-/BBB-.
Use of proceeds are earmarked for general corporate purposes, debt repayment, capital expenditures and acquisition financing.
On June 18, 2024, Loop Capital Markets was mandated as an active book-runner on a $500 million senior unsecured notes offering for The Allstate Corporation. The 5-year bond is rated A3/BBB+. This transaction marks Allstate’s first trip to the USD bond market in 2024, the fourth time Loop Capital has served as an active book-runner on ALL’s bond issuances.
Use of proceeds are earmarked for general corporate purposes.
