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Welcome to CL King

CL King & Associates, founded in 1972, is a self-clearing, service-oriented broker-dealer and investment bank. We deliver investment research, equity and fixed income sales and trading, prime brokerage, investment advisor and clearing services to institutional and high net-worth clients and to other broker-dealers. For corporations, we underwrite securities and provide strategic advice in connection with mergers, acquisitions, strategic alternatives and valuation.

We offer flexible, customizable solutions to the professional investor with the assurance of complete confidentiality and discretion. Our KING operations professionals provide customized, efficient “one-stop” clearing, execution and settlement.

CL King's News & Events

CL King's Best Ideas Conference 2014, September 9, New York City

CL King's 12th Annual Best Ideas Conference will be held September 9 at the Omni Berkshire Place Hotel in New York City.

1/06/2014: CL King Co-Manages Offering of Commonwealth Edison First Mortgage Bonds

CL King was a Co-Manager for Commonwealth Edison’s $650MM offering of First Mortgage Bonds consisting of $300MM of 2.15% Bonds due 2019 and $350MM of 4.7% Bonds due 2044. The issue is rated A3 / A-.

12/11/2013: CL King Co-Manages Pinnacle Foods Stock Offering

CL King acted as Co-Manager in a public offering of 17 million shares of Pinnacle Foods common stock owned by the Blackstone Group. The offering was priced at $26.75 per share and raised $455MM.

CL King announces Mitchell R. Meisler to Head Institutional Equity and Trading

CL King & Associates is pleased to announce that Mitchell R. Meisler will head CL King’s Institutional Equity division as Senior Managing Director, adding responsibility for the research and trading segments of Institutional Equities to his duties as head of Equity Sales.  

According to COO Peter Bulger, “Mitch assumes the position at a time when industry conditions for research-driven models are in flux and surrounded by uncertainty. He will have challenges ahead, challenges we at CL King believe his leadership, sharp intellect and enthusiasm will aid all of us in meeting our goal to achieve the best possible outcomes for our clients.” Click here for more information.

11/8/2013: CL King Co-Manages Senior Notes Offering for American Water Capital

CL King was a Co-Manager for American Water Capital’s $400MM offering of 3.850% Senior Notes due 2024. The issue is rated A-/Baa1. American Water Capital is a subsidiary of NJ-based American Water Works Company.

11/07/2013: CL King Co-Manages Offering of Citigroup Senior Notes

CL King was a Junior Co-Manager for Citigroup’s $1.3B offering of Senior Notes consisting of $500MM of Floating Rate Notes and $800MM of 1.300% Notes both due 2016. The issue is rated A-/Baa2/A.

11/7/2013: CL King Co-Manages Offering of MetLife Senior Notes

CL King was a Co-Manager for MetLife’s $1B offering of 4.875% Senior Notes due 2043. The issue is rated A-/A3.

10/24/2013: CL King Underwrites Citigroup Preferred Stock Offering

CL King acted as an underwriter for Citigroup’s offering of 52 million depository shares priced at $25 per share, raising $1.3B. Each depository share represents a 1/1,000th interest in a share of 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K. The issue is rated B1 / BB- / BB.

9/25/2013: CL King Co-Manages Offering of Southern California Edison First Mortgage Bonds

CL King was a Co-Manager for Southern California Edison’s $1.6B offering of First Mortgage Bonds consisting of $200MM of Floating Rate Notes due 2014, $600MM of 3.50% Notes due 2023, and $800MM of 4.65% Notes due 2043. The issue is rated A / A1 / A+.

9/10/2013: CL King Co-Manages FDIC Offering of Citigroup Subordinated Notes

CL King was a Co-Manager for FDIC’s offering of Citigroup’s $2.42B Subordinated Notes consisting of $1.42B of 5.5% Notes due 2025 and $1B 6.675% Notes due 2043. The issue is rated BBB+/Baa3.

9/4/2013: CL King Co-Manages Offering of San Diego Gas & Electric First Mortgage Bonds

CL King was a Co-Manager for San Diego Gas & Electric’s offering of $450MM 3.60% First Mortgage Bonds due 2023. The issue is rated Aa3/A+

9/4/2013: CL King Co-Manages Offering of Ally Financial Senior Notes

CL King was a Co-Manager for Ally Financial’s $750MM offering of 4.75% Senior Guaranteed Notes due 2018. The issue is rated B+/B1.

8/22/2013: CL King Analysts Rank at the Top in StarMine Awards

CL King Analysts Rank No. 1 for Restaurants, Textiles & Apparel, and Specialty Retail; Firm No. 3 in U.S. for Stock Picks and Earnings Accuracy

 

StarMine, a division of Thomson Reuters, announced its 2013 Awards of Excellence this morning. Out of 91 firms considered in the survey, CL King & Associates was ranked as the Third Most Productive U.S. firm.

The following CL King Analysts were honored:

Morry Brown, No. 1 Estimator, Specialty Retail.

Mike Gallo, No. 1 Stock Picker, Restaurants.

Steve Marotta, No. 1 Stock Picker, Textiles, Apparel and Luxury Goods

Ross Taylor, No. 3 Stock Picker, Healthcare Equipment & Supplies.

To view the full press release click here

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8/12/2013: CL King Participates in Integrys Energy Group Notes Offering

CL King participated in the Selling Group for Integrys Energy Group $400MM 6% Junior Subordinated Notes due 2073.

7/24/2013: CL King Participates in Customers Bancorp Senior Notes Offering

CL King participated in the Selling Group for Customers Bancorp $55MM 6.375% Senior Notes due 2018.

7/18/2013: CL King Co-Manages Offering of Citigroup Senior Notes

 

CL King was a Junior Co-Manager for Citigroup’s $2.5B offering of Senior Notes consisting of $1B of Floating Rate Notes and $1.5B of 1.70% Notes both due 2016. The issue is rated Baa2/A-/A.

6/10/2013: CL King Underwrites Apollo Preference Securities Offering

CL King was an underwriter in Apollo’s offering of 5.4 million shares of 6.875% Preference Securities with a $25 par value, resulting in total proceeds of $135MM (before expenses). 

6/6/2013: CL King Co-Manages GM Common Stock Offering

 

CL King acted as Co-Manager in a public offering of 50 million shares of GM common stock by the U.S. Department of the Treasury and the UAW Retiree Medical Benefits Trust. The offering was priced at $34.41 per share and raised $1.7B.

 

6/5/2013: CL King Underwrites Allstate Preferred Stock Offering

CL King acted as an underwriter for Allstate’s offering of 10 million shares of non-cumulative preferred with a $25 par value, resulting in total proceeds to Allstate of $250MM (before expenses).

5/9/2013: CL King Boasts WSJ Master Stock Pickers

The Wall Street Journal reports CL King analysts Jim Barrett and Mike Gallo rank among the top analysts on the Street in its annual Best on the Street competition for 2012.

Jim Barrett was ranked No. 2 out of 108 in the Heavy Machinery and Materials sector. This is the second time Jim has been named one of the Best on the Street by the survey, having been ranked No. 2 in 2007. Director of Research at CL King since 2005, Jim joined the company in 2002.

Michael Gallo, CFA, was ranked No. 2 out of 34 in the Restaurant sector in the 2012 survey. This is Mike’s third top ranking in this sector since 2005. He has been with CL King since 2000.

4/25/2013: CL King Co-Manages Citi Preferred Offering

CL King acted as Junior Co-Manager for Citigroup’s $1.25B offering of $1,000 per share preferred stock. The issue is rated BB.

3/28/2013: CL King Co-Manages Pinnacle Foods IPO

 

CL King acted as co-manager in the offering of 29,000,000 primary shares of common stock at $20 per share, raising $580MM. Pinnacle Foods begins NYSE trading under the ticker symbol “PF” today.

3/19/2013: CL King Acts as Junior Co-Manager on Citigroup Preferred Stock Offering

CL King acted as Junior Co-Manager for Citigroup’s offering of 20,000,000 depository shares priced at $25 per share, raising $500MM. Each depository share represents a 1/1,000th interest in a share of perpetual 5.80% Noncumulative Preferred Stock, Series C. The issue is rated B1/BB/BB.

3/5/2013: Peter Bulger, Senior Managing Director and COO, Announces Promotions

To Senior Vice President:

  • Gregg A. Miller, Compliance
  • Jason C. Freed, Investment Banking
  • Thomas Hallisey, Securities Operations/Stock Loan

To Vice President:

  • Carrie A. Kane, Securities Operations/Stock Loan
  • Andrea Burriesci, Professional & Prime Brokerage Services
2/20/2013: CL King Co-Manages Morgan Stanley Bond Offering

CL King co-managed the two 3-year tranches of Morgan Stanley’s $4.5B 3-part bond offering of 3- and 10-year maturities. The issue is rated A-/Baa1.

2/14/2013: CL King Co-Manages Citigroup Bond Offering

CL King acted as Junior Co-Manager for Citigroup’s offering of $1.5B 3.375% senior notes due 2023. The issue is rated Baa2/A-/A.

2/11/2013: CL King Co-Manages Offering of Kellogg Senior Notes

CL King co-managed Kellogg’s $650MM offering of Senior Notes consisting of $250MM of Floating Rate Notes due 2015 and $400MM of 2.75% Notes due 2023. The issue is rated Baa1/BBB+/BBB+.

2/5/2013: CL King Co-Manages Offering of Citigroup Sub Debt Held by U.S. Treasury

CL King co-managed the offering of $894MM of 4.05% Subordinated Notes due 2022. Citigroup will not receive any of the proceeds from the sale of the notes by Treasury. Issue is rated Baa3/BBB+/BBB+.

1/29/2013: CL King Co-Manages SoCal Edison Trust Preference Securities Offering

CL King acted as co-manager for Southern California Edison Trust's (SCE) offering of 16 million shares of 5.10% Preference Securities with a $25 par value, resulting in total proceeds of $400MM before expenses. SCE is rated A3/BBB+.

1/03/2013: CL King Selected to Fannie Mae ACCESS Program

CL King, a leading woman-owned investment bank, was approved by Fannie Mae to be a member of its prestigious ACCESS program. The ACCESS program provides opportunities for MWBE broker-dealers to underwrite Fannie Mae securities. Fannie Mae is the nation’s largest mortgage buyer. CL King applies it’s peer-leading capital base and robust fixed income distribution platform to increase liquidity in Fannie Mae’s securities.  Already, CL King has underwritten two issues since last November.

12/17/2012: CL King is Co-Manager on AT&T Bond Exchange

CL King acted as Co-Manager on AT&T’s $5B offering to exchange new debt and cash for portions of 17 series of outstanding notes. The exchange offer extends certain maturities and creates interest payment savings for AT&T. The new bonds mature 2042 and 2045. AT&T is rated A2/A-.

12/14/2012: CL King is Co-Lead Manager on AIG Stock Offering

CL King acted as Co-Lead manager in a public offering of 234.2 million shares of AIG common stock by the U.S. Department of the Treasury. The offering was priced at $32.50 per share and raised $7.6B, bringing to a close the U.S. Department of Treasury’s ownership of AIG.

12/12/2012: CL King Advised FSNA on Acquisition of Advantage Rent-A-Car from Hertz

Franchise Services of North America (“FSNA”) acquired Simply Wheelz, a Delaware limited liability company and the holding company of the Advantage Rent-A-Car brand (“Advantage”), and certain other divested assets from Hertz.  FSNA’s purchase of Advantage facilitated Hertz’s $2.3B acquisition of Dollar Thrifty Automotive Group, announced on August 27, 2012.  CL King acted as financial advisor to FSNA.

11/2/2012: CL King Underwrites Verizon Bond Offering

CL King underwrote a portion of Verizon’s four-part $4.5B issue of Senior Notes due November 2015, 2017, 2022 and 2042. Proceeds will be used to repay existing debt prior to maturity. The issue is rated A3/A-/A.

9/27/2012: CL King Acts as Co-Manager on MetLife Bond Offering

CL King acted as Co-Manager for MetLife’s two-part $1B offering of Series C Senior Debentures consisting of $500MM of 1.756% senior debentures due December 15, 2017 and $500MM of 3.048% senior debentures due December 15, 2022. Proceeds will be used to fund the contractual purchase of MetLife common stock by holders of the 40 million common equity units issued in November 2010 in connection with the company’s acquisition of Alico. The issue is rated A3/A-.

9/10/2012: CL King Acts as Junior Co-Manager on AIG Stock Offering

CL King acted as junior co-manager in a public offering of 636.9 million shares of AIG common stock by the U.S. Department of the Treasury. The offering was priced at $32.50 per share and raised $20.7 billion, reducing the U.S. Department of Treasury’s interest in AIG from 53% to 16%.

 

8/13/2012: CL King Co-Manages PG&E Bond Offering

CL King acted as Co-Manager for Pacific Gas and Electric Company’s two-part $750MM senior notes offering consisting of $400MM of 2.45% senior notes due 2022 and $350MM of 3.75% senior notes due 2042. Proceeds will be used for general corporate purposes. The issue is rated A3/BBB.

8/13/2012: CL King Co-Manages GM Financial Bond Offering

CL King co-managed GM Financial’s $1B issue of 4.75% Senior Notes due 2017. The offering was a 144A/Regulation S with registration rights. Proceeds will be used for general corporate purposes. The issue is rated Ba3/BB-.

8/7/12: CL King Co-Manages Ally Bond Offering

CL King co-managed Ally Financial’s $600MM re-opening of 4.625% Senior Guaranteed Notes due 2015. Proceeds will be used for general corporate purposes, including the retirement of outstanding indebtedness. The issue is rated B1/B+/BB-.

8/6/12: CL King Co-Manages Prudential Bond Offering

CL King co-managed Prudential Financial’s $1B issue of 5.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2042. Proceeds will be used for general corporate purposes and to redeem outstanding medium-term notes. The issue is rated Baa3/BBB+.

8/1/12: CL King Co-Manages Citigroup Bond Offering

CL King acted as Co-Manager for Citigroup’s offering of $1.25B 2.25% senior notes due 2015. The issue is rated Baa2/A-/A.

6/29/12: CL King Advises RS Water Holdings

CL King advises RS Water Holdings on its acquisition of the Culligan Dealerships in Dallas and Houston. CL King acted as financial advisor to RS Water Holdings and originated this water industry transaction. Terms are not disclosed.

6/14/12: CL King Co-Manages Offering of TARP Preferred Stock Positions Held by Treasury

CL King acted as Co-Manager for the U.S. Treasury Department’s sale of 280,604 shares of preferred stock in seven financial institutions. The sale generated $245MM in aggregate net proceeds and represents part of the Treasury’s strategy for winding down its remaining TARP bank investments

5/21/12: John R. Moore, CFA, Eric Larson, CFA, and Michael G. Lally Join CL King

Albany, New York -- CL King & Associates, Inc. a premier, full-service investment boutique known for its 40-year expertise in providing money management, equity, fixed-income, and prime brokerage products and services, has announced the hiring of professionals in its equity research and sales trading ranks. Read More

5/18/2012: CL King Co-Manages Facebook’s Initial Public Offering

CL King was one of 33 banks chosen globally to underwrite Facebook’s (NASDAQ: FB) offering of 421,233,615 shares of common stock at $38 per share, resulting in total proceeds of $16B,  before expenses.

 

5/11/2012:CL King Underwrites So. California Edison Trust Preference Securities Offering

CL King acted as Underwriter for Southern California Edison Trust's (SCE) offering of 19,000,000 5.625% Preference Securities with a $25 face value, resulting in total proceeds of $475MM before expenses.  The issue is rated Baa2/BBB-/BBB+.

4/16/2012: CL King Co-Manages Lowe’s Senior Notes Offering

CL King acted as Co-Manager for Lowe’s three-part $2B senior notes issue consisting of $500MM of 1.625% notes due in 2017, $750MM of 3.12% notes due 2022 and $750MM of 4.65% notes due 2042. Proceeds will be used for general corporate purposes. The issue is rated A3/A-.

4/10/2012: CL King Co-Manages DFC Global Corp’s Convertible Notes Offering

CL King acted as Co-Manager for DFC Global Corp’s $230MM issue of 3.25% senior convertible notes due 2017. Proceeds will be used to repay outstanding amount under existing credit facility and for general corporate purposes. The issue is rated B+.

4/3/12: Barrett on CNBC: Spike in Gun Ownership a Plus for SWHC, RGR

Jim Barrett, Managing Director/Director of Research was interviewed by CNBC for its segment "Guns: Ammo for Your Portfolio?" about CL King's Buy-rated stocks Smith & Wesson Holding Corporation (SWHC) and Sturm, Ruger & Company, Inc. (RGR).

To see the video, click here >

2/27/12: CL King Co-Manages Citigroup Bond Offering

CL King co-managed a Citigroup $500MM five-year floating rate senior note issue due March 2017. The issue is rated A3/A-/A.

 

2/9/12: CL King Co-Manages Ally Financial Bond Offering

CL King co-managed Ally Financial’s $1B issue of 5.50% Senior Notes due 2017. Proceeds will be used for general corporate purposes, including the retirement of outstanding debt. The issue is rated B1/B+/BB-.