Transactions

C.L. King Co-Manages $2 Billion Ford Motor Credit High Yield Bond Offering

C.L. King acted as Co-Manager for Ford Motor Credit Co LLC, in its $2B 2-part Senior Unsecured Notes offering including 2.30% $1.25B due 2/10/25 and 2.90% $750M due 2/10/29.

C.L. King Co-Manages $8 Billion Merck Bond Offering

C.L. King acted as Co-Manager for Merck & Co in its $8B 5-part Senior Unsecured Notes offering including 1.70% $1.5B due 6/10/27, 1.90% $1B due 12/10/28, 2.15% $2B due 12/10/31, 2.75% $2B due 12/10/51, and 2.90% $1.5B due 12/10/61. (NYSE: MRK).  This issue is rated A1/A+

C.L. King Co-Manages $258.75 Million Patrick Industries Convertible Offering

C.L. King acted as Co-Manager for Patrick Industries, Inc. in its 1.75% $258.75M 144A Convertible Senior Notes offering due 2028. (NASDAQ: PATK).

This issue is rated B3/B+.

C.L. King Joint-Leads $2 Billion Bank of America Sustainability Bond Offering

C.L. King acted as Joint Book-Running Manager for Bank of America Corporation in its $2B 1.53% 4nc3 Senior Unsecured Sustainability Bond Offering due 12/6/25.   (NYSE: BAC). This issue is rated A2/A-.

C.L. King Co-Manages $1.15 Billion Duke Energy Florida Bond Offering

C.L. King acted as Co-Manager for Duke Energy Florida LLC in its $1.15B 2-part First Mortgage “Green” Bonds offering including 2.40% $650M due 12/15/31 and 3.00% $500M due 12/15/51. (NYSE: DUK).

This issue is rated A

C.L. King Co-Manages $1.25 Billion Barclays Bond Offering

C.L. King acted as Co-Manager for Barclays PLC in its $1.25B 2.294% 11NC10 Fixed Rate Resetting Senior Notes offering due 11/24/32.  This was part of a $4B 3-part Senior Unsecured Notes offering including $1.75B 2.279% 6nc5 Notes due 11/24/27 and $1B 3.33% 21nc20 Notes due 11/24/42. (NYSE: BCS).

This issue is rated Baa2/BBB/A.

C.L. King Co-Manages $1 Billion Ford Motor Credit ABS

C.L. King acted as Co-Manager for Ford Motor Credit Company LLC in its $1B Ford Credit Auto Owner Trust 2021-REV2 1.53% Class A Senior Notes offering due 5/15/34.

This was part of a transaction which also included associated 144A/Reg S subordinated $41.2M 1.91% Class B Notes due 5/15/34, $41.2M 2.11% Class C Notes due 5/15/34 and $27.5M 2.6% Class D Notes due 5/15/34.

The Class A notes were rated Aaa/AAA, the Class B notes were rated Aa1/AA, the Class C notes were rated A1/A and the Class D notes were rated Baa3/BBB.

C.L. King Co-Manages $1 Billion Citigroup Bond Offering

C.L. King acted as Co-Manager for Citigroup Inc in its $1B 1.281% 4nc3 "Social" Fixed to Floating Rate Senior Notes offering due 11/03/25.  This was part of a $4B 3-part Senior Unsecured Notes offering including 2.520% $1.75B 11nc10 Notes due 11/03/32 and 2.904% $1.25B 21nc20 Notes due 11/03/42. (NYSE: C).

C.L. King Co-Manages $3.25 Billion Bank of America Bond Offering

C.L. King acted as Co-Manager for Bank of America Corporation in its $3.25B 2.572% 11nc10 Fixed to Floating Rate Senior Notes offering due 10/20/32. (NYSE: BAC).   This issue is rated A2/A-.

C.L. King Co-Manages $700 Million Pershing Square Holdings Bond Offering

C.L. King acted as Co-Manager for Pershing Square Holdings, Ltd. in its 3.25% $700M 144A/3c7/Reg S 10yr Senior Unsecured Notes due 10/01/31.

This was part of a dual currency Seni

C.L. King Co-Manages $2 Billion Lowe’s Bond Offering

C.L. King acted as Co-Manager for Lowe's Companies Inc. in its $2B 2-part Senior Unsecured Notes offering including 1.70% $1B due 9/15/28 and 2.80% $1B due 9/15/41. (NYSE: LOW). This issue is rated Baa1/BBB+.

C.L. King Joint-Leads $2 Billion Wal-Mart Inaugural Green Bond Offering

C.L. King acted as Joint Book-Running Manager for Walmart Inc. in its Inaugural 1.80% $2B 10yr Green Bonds due 9/22/31.
This was part of a $7B 5-part Senior Unsecured Notes offering including 1.05% $1.25B 5yr Notes due 9/17/26, 1.50% $1.25B 7yr Notes due 9/22/28, 2.50% $1B 20yr Notes due 9/22/41, and 2.65% $1.5B 30yr Notes due 9/22/51. (NYSE: WMT). This issue is rated Aa2/AA.

C.L. King Co-Manages Dual Currency Eli Lilly Bond Offerings

C.L. King acted as Co-Manager for Eli Lilly and Company in both its 3-part €1.8B Senior Notes offering including 0.5% €600M 12yr Notes due 9/14/33, 1.125% €500M 30yr Notes due 9/14/51, and 1.375% €700M 40yr Notes due 9/14/61 and also as Co-Manager in its 1.625% £250M 22yr Senior Notes due 9/14/43. (NYSE: LLY).
These issues are rated A2/A+.

C.L. King Co-Manages $5 Billion Intel Bond Offering

C.L. King acted as Co-Manager for Intel Corp in its $5B 5-part Senior Unsecured Notes offering including 1.60% $1B due 8/12/28, 2.00% $1.25B due 8/12/31, 2.80% $750M due 8/12/41, 3.05% $1.25B due 8/12/51, and 3.20% $750M due 8/12/61. (NASDAQ: INTC). This issue is rated A1/A+.

C.L. King Co-Manages $2 Billion Raytheon Technologies Bond Offering

C.L. King acted as Co-Manager for Raytheon Technologies Corp in its $2B 2-part Senior Notes offering including 1.90% $1B Senior Unsecured Notes due 9/1/31 and 2.82% $1B Senior Unsecured Notes due 9/1/51. (NYSE: RTX). This issue is rated Baa1/A-.

C.L. King Co-Manages $450 Million AEP Transmission Bond Offering

C.L. King acted as Co-Manager for AEP Transmission Co in its 2.75% $450M Senior Unsecured Notes due 8/15/51. AEP Transmission Co is a subsidiary of American Electric Power Company (NASDAQ: AEP). This issue is rated A2/A-/A-.

C.L. King Co-Manages $2 Billion CCO Holdings High Yield Bond Offering

C.L. King acted as Co-Manager for CCO Holdings LLC / CCO Holdings Capital Corp, in its $2B 144a/Reg S 4.25% 12.5nc6.5 Senior Notes offering due 2034. This issue is rated B1/BB.

C.L. King Participates in $1.78 Billion NextEra Energy Private Placement

C.L. King acted as Placement Agent for Nextera Energy’s 2-part offering of Florida Pipeline Holdings, LLC’s $1.513B 17yr fully amortizing senior secured 4(a)(2) notes, Series A due 2038 and Florida Pipeline Funding, LLC’s $260M 7yr non-amortizing senior secured 4(a)(2) notes, Series A due 2028.
Florida Pipeline Holdings, LLC is an indirect wholly owned subsidiary and Florida Pipeline Funding, LLC is a wholly-owned subsidiary of Nextera Energy (NYSE: NEE).
Florida Pipeline Holdings, LLC issue is rated BBB and Florida Pipeline Funding, LLC. issue is rated BB+.

C.L. King Co-Manages $1 Billion Ford Motor High Yield Bond Offering

C.L. King acted as Co-Manager for Ford Motor Credit Co LLC, in its $1B SEC registered 3.625% 10y NCL Senior Notes offering due 6/17/2031. This issue is rated Ba2/BB+/BB+.

C.L. King Co-Manages $1.1 Billion Wendy’s WBS

C.L. King acted as Co-Manager for Wendy’s Funding, LLC in its $1.1B 144A/Reg S Series 2021-1 2-part Senior Secured Notes transaction including $450M 2.37% Notes, Class A-2-I due 6/2051 and $650M 2.775% Notes, Class A-2-II due 6/2051. These issues were rated BBB.