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Debt Capital Markets
$1.6 Billion

1.5yr FRN, 6yr and 10yr Senior Notes

Co-Manager 02/2025

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C.L. King Co-Manages $1.6 Billion Georgia Power Bond Offering

C.L. King acted as Co-Manager for Georgia Power Company in its $1.6B 3-part offering consisting of $400M (SOFR+28) 1.5yr Floating Notes due 9/15/26, $500M 4.85% 6yr Senior Notes due 3/15/31 and $700M 5.2% 10yr Senior Notes due 3/15/35. Georgia Power Company is a wholly owned subsidiary of Southern Company (NYSE:SO). These issues were rated A3/A/A.

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$1.75 Billion

6NC5 Senior Notes

Co-Manger 02/2025

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

C.L. King acted as Co-Manager for Barclays PLC in its $1.75B 5.367% 6NC5 Fixed-to-Floating Rate Senior Callable Notes due 2/25/31. This was part of a $5B 3-part offering which also included $1.25B 5.086% 4NC3 Fixed-to-Floating Rate Senior Callable Notes due 2/25/29 and $2B 5.785% 11NC10 Fixed-to-Floating Rate Senior Callable Notes due 2/25/36. Barclays PLC (ADR NYSE: BCS).
These issues were rated Baa1/BBB+/A.

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$2 Billion

10yr Tap, 30yr and 40yr First Mortgage Bonds

Co-Manager 02/2025

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C.L. King Co-Manages $2 Billion Florida Power & Light Company Bonds Offering

C.L. King acted as Co-Manager for Florida Power & Light Company in its $2B 3-part offering consisting of $350M Tap of 5.3% 10yr First Mortgage Bonds due 6/15/34, $950M 5.7% 30yr First Mortgage Bonds due 3/15/55 and $700M 5.8% 40yr First Mortgage Bonds due 3/15/65. These issues were rated Aa2/A+/AA-. Florida Power & Light Company is a wholly owned subsidiary of NextEra Energy, Inc. (NYSE:NEE)

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$6.5 Billion

3yr, 5yr, 7yr, 10yr, 30yr and 40yr Senior Notes

Co-Manager 02/2025

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C.L. King Co-Manages $6.5 Billion Eli Lilly Bond Offering

C.L. King acted as Co-Manager for Eli Lilly & Co in its $6.5B 6-part debt offering consisting of $1B 3yr 4.55% Senior Notes due 2/12/28, $1.25B 5yr 4.75% Senior Notes due 2/12/30, $1B 7yr 4.9% Senior Notes due 2/12/32, $1.25B 10yr 5.1% Senior Notes due 2/12/35, $1.25B 30yr 5.5% Senior Notes due 2/12/55, and $750M 40yr 5.6% Senior Notes due 2/12/65 (NYSE:LLY). These issues were rated Aa3/A+.

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$1.9 Billion

Revolving Prime Auto Loan FORDR 2025-1 Class A1-A4 Notes ABS

Co-Manager 02/2025

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C.L. King Co-Manages $1.9 Billion Ford Motor Credit ABS

C.L. King acted as Co-Manager for Ford Motor Credit Company LLC in its $1.9B+ Ford Revolving Prime Auto Loan FORDR 2025-1 Class A1-A4 Notes ABS transaction.
Ford Motor Credit Company LLC is wholly owned by Ford Motor Company (NYSE:F).

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$2.074 Billion

6NC2 Senior Secured Notes

Co-Manager 02/2025

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C.L. King Co-Manages $2.074 Billion DIRECTV High Yield Bond Offering

C.L. King acted as Co-Manager for DIRECTV, Financing LLC / DIRECTV Financing Co-Obligor, Inc. in its $2.074B 6NC2 10% 144A Senior Secured Notes.
The issue is rated B1/BB-/BBB-.

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$5 Billion

3yr FXD & FRN, 5yr,7yr, 10yr and 30yr Senior Notes

Jr. Co-Manager 01/2025

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C.L. King Co-Manages $5 Billion NextEra Energy Capital Holdings Bond Offering

C.L. King acted as Jr. Co-Manager for NextEra Energy Capital Holdings, Inc. in its $5B 6-part offering including $1B 3yr 4.85% Fixed Senior Notes due 02/04/28, $500M 3yr (SOFR+80) Floating Rate Notes due 02/04/28, $1B 5yr 5.05% Fixed Senior Notes due 03/15/30, $750M 7yr 5.3% Fixed Senior Notes due 03/15/32, $1B 10yr 5.45% Fixed Senior Notes due 03/15/35 and $750M 30yr 5.9% Fixed Senior Notes due 03/15/55. NextEra Energy Capital Holdings, Inc. is a wholly owned subsidiary of NextEra Energy, Inc (NYSE: NEE).
These issues were rated Baa1/BBB+/A-.

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$3 Billion

$1,000 par PerpNC5 Fixed Rate Reset Non-Cumulative Preferred Stock, Series OO

Co-Manager 01/2025

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C.L. King Co-Manages $3 Billion JPMorgan’s Preferred Stock Offering

C.L. King acted as Co-Manager for JPMorgan Chase & Co. in its $1,000 par PerpNC5 $3B 6.5% Fixed Rate Reset Non-Cumulative Preferred Stock, Series OO. The company offered 3,000,000 depositary preferred shares. (NYSE: JPM). This issue was rated BBB/BBB+.

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$1.9 Billion

$1,000 par PerpNC5 Fixed Rate Reset Non-Cumulative Preferred Stock, Series Z

Co-Manager 01/2025

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C.L. King Co-Manages $1.9 Billion Goldman Sachs’ Preferred Stock Offering

C.L. King acted as Co-Manager for The Goldman Sachs Group, Inc. in its $1,000 par PerpNC5 $1.9B 6.85% Fixed Rate Reset Non-Cumulative Preferred Stock, Series Z. The company offered 1,900,000 depositary preferred shares. (NYSE: GS). This issue was rated Ba1/BB+/BBB-.

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$3 Billion

11NC10 Fixed to Floating Senior Unsecured Notes

Co-Manager 01/2025

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

C.L. King acted as a Co-Manager for Morgan Stanley on its $3B 5.587% 11NC10 Fixed to Floating Senior Unsecured Notes due 1/18/36. This was part of a $8B 4-part debt offering which also included a $2B 5.016% 4NC3 Fixed to Floating 3a2 Senior Bank Notes due 1/12/29, $500M 4NC3 SOFR+90 3a2 Floating Senior Bank Notes due 1/12/29, and $2.5B 5.23% 6NC5 Fixed to Floating Senior Unsecured Notes due 1/15/31. (NYSE:MS).
These issues were rated Aa3/A+/AA- and A1/A-/A+.

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$1.5 Billion

10yr and 30yr First Mortgage Bonds

Co-Manager 01/2025

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C.L. King Co-Manages $1.5 Billion Southern California Edison Bond Offering

C.L. King acted as Co-Manager for Southern California Edison Company in its $1.5B 2-tranche debt offering consisting of $850M 5.45% 10yr First Mortgage Bonds due 3/1/35 and $650M 5.9% 30yr First Mortgage Bonds due 3/1/55. Southern California Edison is a wholly owned subsidiary of Edison International (NYSE: EIX). These issues were rated A2/A-/A-.

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$3 Billion

4-part 2yr FXD, FRN and 5yr FXD, FRN Senior Notes

Co-Manager 12/2024

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C.L. King Co-Manages $3 Billion TD Bank Bond Offering

C.L. King acted as Co-Manager for The Toronto-Dominion Bank in its $3B 4-tranche debt offering consisting of $1.1B 4.568% 2yr Fixed Senior Unsecured Notes due 12/17/26, $550M 2yr SOFR+62 Floating Senior Unsecured Notes due 12/17/26, $1B 4.783% 5yr Fixed Senior Unsecured Notes due 12/17/29 and $350M 5yr SOFR+103 Floating Senior Unsecured Notes due 12/17/29 (NYSE:TD). This issue was rated A2/A-/AA-.

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$600 Million

10yr Senior Unsecured Notes

Co-Manager 12/2024

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C.L. King Co-Manages $600 Million Public Service Co of Oklahoma Bond Offering

C.L. King acted as Co-Manager for Public Service Company of Oklahoma in its $600M 5.2% 10yr Senior Unsecured Notes due 01/15/2035. Public Service Company of Oklahoma is a subsidiary of American Electric Power Company (NASDAQ: AEP). This issue was rated Baa1/BBB+/A-.

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$2.5 Billion

21NC20 Fixed to Floating Senior Unsecured Notes

Co-Manager 11/2024

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

C.L. King acted as Co-Manager for JPMorgan Chase & Co. in its $2.5B 5.534% 21NC20 Fixed to Floating Senior Unsecured Notes due 11/29/45. (NYSE: JPM). This issue was rated A1/A/AA-.

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$1.1 Billion

Device Payment Plan VZMT 2024-8 ABS

Co-Manager 11/2024

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C.L. King Co-Manages $1 Billion Verizon ABS

C.L. King acted as Co-Manager for Verizon Communications Inc. in its $1B Device Payment Plan VZMT 2024-8 ABS transaction. Verizon Master Trust is an indirect wholly owned subsidiary of Verizon Communications Inc. (NYSE:VZ).

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$3 Billion

21NC20 Fixed to Floating Senior Unsecured Notes

Co-Manager 11/2024

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C.L. King Co-Manages $3 Billion Goldman Sachs Bond Offering

C.L. King acted as Co-Manager for The Goldman Sachs Group, Inc. in its $3B 5.561% 21NC20 Fixed to Floating Senior Unsecured Notes due 11/19/2045 (NYSE:GS). This issue was rated A2/BBB+/A.

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$6.5 Billion

5-part 4NC3 FTF & FRN, 6NC5 FTF & FRN and 11NC10 T2 Sub Notes

Co-Manager 11/2024

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C.L. King Co-Manages $6.5 Billion HSBC Holdings Bond Offering

C.L. King acted as a Co-Manager for HSBC Holdings PLC in its $6.5B 5-tranche debt offering consisting of $1.5B 5.13% 4NC3 Fixed to Floating Senior Unsecured Notes due 11/19/28, $500M 4NC3 SOFR+104 Floating Senior Unsecured Notes due 11/19/28, $2.25B 5.286% 6NC5 Fixed to Floating Senior Unsecured Notes due 11/19/30, $500M 6NC5 SOFR+129 Floating Senior Unsecured Notes due 11/19/30 and $1.75B 5.874% 11NC10 Tier 2 Sub Notes due 11/18/35 (NYSE:HSBC). These issues were rated A3/A-/A+ and Baa1/BBB/A-.

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$2.2 Billion

3NC2 3a2 Social Fixed to Floating Senior Bank Notes

Jr. Co-Manager 11/2024

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C.L. King Co-Manages $4.25 Billion Citibank NA Bond Offering

C.L. King acted as Jr. Co-Manager for Citibank NA in its $2.2B 4.876% 3NC2 3a2 Social Fixed to Floating Senior Bank Notes due 11/19/27. This was part of a $4.25B 3-part debt offering which also included $800M 3NC2 SOFR+71.2 3a2 Social Floating Senior Bank Notes due 11/19/27 and $1.25B 5.592% 10NC5 Sub Fixed Rate Reset Notes due 11/19/34. Citibank NA is a wholly owned subsidiary of Citigroup Inc. (NYSE:C). These issues were rated Aa3/A+/A+ and Baa2/BBB/BBB+.

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$3.5 Billion

11NC10 Fixed Subordinated Notes

Co-Manager 10/2024

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C.L. King Co-Manages $3.5 Billion Bank of America Bond Offering

C.L. King acted as Co-Manager for Bank of America Corp in its $3.5B 5.518% 11NC10 Fixed Subordinated Notes due 10/25/2035. (NYSE: BAC).This issue was rated A3/BBB+/A.

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$2.3 Billion

3-part 3yr FXD & FRN and 8NC7 FTF Senior Notes

Co-Manager 10/2024

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C.L. King Co-Manages $2.3 Billion State Street Bond Offering

C.L. King acted as Co-Manager for State Street Corporation in its $2.3B 3-part debt offering of $1.2B 4.33% 3yr Senior Unsecured Notes due 10/22/2027, $300M 3yr SOFR+64 Floating Rate Senior Unsecured Notes due 10/22/2027 and $800M 4.675% 8NC7 Fixed to Floating Rate Senior Unsecured Notes due 10/22/2032. (NYSE: STT). These issues were rated A1/A/AA-.

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