Transactions

C.L. King Acted as Co-Manager Bank of America’s $1.1 Billion Preferred Stock Offering

C.L. King acted as Co-Manager for Bank of America in its $1.1B 4.375% 20 year Perpetual NC5 Non-Cumulative Preferred Stock, Series NN, offering of 44,000,000 depositary shares at an offering price of $25 per share.

The issue is rated Baa3/BBB-/BBB.

C.L. King Co-Manages $4 Billion T-Mobile Bond Offering

C.L. King acted as Co-Manager for T-Mobile in its $4B 4-part Senior Secured Notes offering including $500M tap of 2.05% notes due 2/15/28, $750M tap of 2.55% notes due 2/15/31, $1.25B 3.00% notes due 2/15/41 and $1.5B 3.30% notes due 2/15/51.
This issue is rated Baa3/BBB-/BBB-.

C.L. King Co-Manages $800 Million San Diego Gas & Electric’s Bond Offering

C.L. King acted as Co-Manager for San Diego Gas & Electric in its $800M 1.70% First Mortgage Bonds, Series VVV, due 10/01/30.
This issue is rated A2/A/A. San Diego Gas & Electric is a wholly-owned subsidiary of Sempra Energy (NYSE: SRE).

C.L. King Co-Manages $1 Billion Barclays PLC’s Bond Offering

C.L. King acted as Co-Manager for Barclays PLC in its $1B 15nc10 3.564% Fixed Rate Resetting Subordinated Callable Notes due 9/23/35.
This issue is rated Baa3/BB+/BBB+

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

C.L. King acted as Co-Manager for Southern Company in $1.25Bn $1,000 Par 4.00% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 1/15/51.
This issue is rated Baa3/BBB/BBB-.

C.L. King Co-Manages $400 Million Arizona Public Service Bond Offering

C.L. King acted as Co-Manager for Arizona Public Service in its $400mm 2.65% Senior Notes ”Green Bond” due 9/15/50. This issue is rated A2/A-/A-. Arizona Public Service is a subsidiary of Pinnacle West Capital Corporation (NYSE: PNW)

C.L. King Co-Manages Alabama Power $600 Million Bond Offering

C.L. King acted as Co-Manager for Alabama Power Company on its $600mm Series 2020A 1.45% Senior Unsecured Notes due 9/15/30. This issue is rated A1/A/A+. Alabama Power Company is a subsidiary of Southern Company (NYSE: SO).

C.L. King Co-Manages $2.5 Billion GM Financial Bond Offering

C.L. King acted as Co-Manager for GM Financial in its $2.5bn 3-part Senior Notes offering including $1.25bn 1.70% notes due 8/18/23, $900mm 2.70% notes due 8/20/27, and $350mm Tap of 3.60% notes due 6/21/30.

This issue is rated Baa2/BBB/A-.

C.L. King acted as Joint Book-Running Manager for Duke Energy Progress’ $700 Million Bond Offering

C.L. King acted as Joint Book-Running Manager for Duke Energy Progress on its $700mm Series A Floating Rate Senior Notes due 2/18/22, priced at 3mL+18.

This issue is rated A2/A-. Duke Energy Progress is a subsidiary of Duke Energy Corp (NYSE: DUK).

C.L. King Co-Manages $10 Billion Alphabet Bond Offering

C.L. King acted as Co-Manager for Alphabet Inc. in its $10bn 6-part Senior Notes offering including $1bn 0.45% notes due 8/15/25, $1bn 0.80% notes due 8/15/27, $2.25bn 1.10% notes due 8/15/30, $1.25bn 1.90% notes due 8/15/40, $2.5bn 2.05% notes due 8/15/50 and $2bn 2.25% notes due 8/15/60. The 5s, 10s & 30s were sustainability tranches.

This issue is rated Aa2/AA+.

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

C.L. King acted as Jr. Co-Manager for Florida Power & Light Company in its $1.25bn Floating Rate Notes due 7/28/23. This issue is rated A1/A/A+.

Florida Power & Light Company is a wholly-owned subsidiary of NextEra Energy Inc.(NYSE:NEE)

C.L. King Co-Manages $11 Billion AT&T Bond Offering

C.L. King acted as Co-Manager for AT&T Inc. in its $11bn 5-part Senior Notes offering including $2.25bn 1.65% notes due 2/1/28, $2.5bn 2.25% notes due 2/1/32, $2.5bn 3.10% notes due 2/1/43, $2.25bn 3.30% notes due 2/1/52 and $1.5bn 3.50% notes due 2/1/61.

This issue is rated Baa2/BBB/A-.

C.L. King Co-Manages $4.75 Billion Bank of America Bond Offering

C.L. King acted as Jr. Co-Manager for Bank of America in its $4.75bn 2-part Series N Medium-Term Notes offering including $2.75bn 1.898% Fixed-to-FRN due 7/23/31 and $2bn Tap of 2.676% Fixed-to-FRN due 6/19/41. 

This issue is rated A2/A-/A+.

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

C.L. King acted as Co-Manager for Mondelez International in raising $1Bn 0.625% Senior Notes due 7/01/22.

This issue is rated Baa1/BBB.

C.L. King Co-Manages $500 Million Duke Energy Bond Offering

C.L. King acted as Jr. Co-Manager for Duke Energy Florida, LLC in $500mm First Mortgage Bonds, 1.75% Series due 6/01/30.

This issue is rated A1/A.

C.L. King Underwrites Tax-Exempt DEDA Gas Facilities Revenue Refunding Bonds

C.L. King acted as Underwriter on $78.4MM Delaware Economic Development Authority Gas Facilities Refunding Revenue Bonds(2020 Series A) due 01/01/2031 for the Delmarva Power & Light project.

Delmarva Power & Light is a subsidiary of Exelon Corporation (NYSE:EXC). This issue is rated A2/A.

C.L. King Co-Manages $12.5 Billion AT&T Bond Offering

C.L. King acted as Co-Manager for AT&T Inc. in its $12.5bn 5-part Senior Notes offering including $2.5bn 2.30% notes due 6/1/27, $3bn 2.75% notes due 6/1/31, $2.5bn 3.50% notes due 6/1/41, $3bn 3.65% notes due 6/1/51 and $1.5bn 3.85% notes due 6/1/60.

This issue is rated Baa2/BBB/A-.

C.L. King Underwrites Tax-Exempt Pollution Control Revenue Refunding Bonds

C.L. King acted as Underwriter for The Pollution Control Financing Authority of Salem County’s $23.15mm Pollution Control Revenue Refunding Bonds (Series 2020) due 06/01/2029 for the Atlantic City Electric Company project.

Atlantic City Electric Company is a subsidiary of Exelon Corporation (NYSE:EXC). This issue is rated A2/A.

C.L. King Co-Manages $1.15 Billion Lockheed Martin Bond Offering

C.L. King acted as Co-Manager for Lockheed Martin Corporation in its $1.15bn 2-part Senior Unsecured Notes offering including 1.85% $400mm notes due 6/15/30 and 2.8% $750mm notes due 6/15/50.

This issue is rated A3/A-/A-.

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

C.L. King acted as Jr. Co-Manager for NextEra Energy Capital Holdings Inc. in its $2bn 2.25%, Debentures, Series due 6/1/30.

This issue is rated Baa1/BBB+/A-.