Transactions

C.L. King Co-Manages $7 Billion Morgan Stanley Bond Offering

C.L. King acted as Co-Manager for Morgan Stanley, Inc in its $2B 3.62% 3NC2 Fixed Senior Rate Notes due 4/17/25 and $500M (SOFR+116.5) 3NC2 Floating Rate Notes due 4/17/25. These issues are rated A1/BBB+.

This was part of a $7B 4-part Senior Unsecured Notes offering which also included $2.5B 6NC5 Floating Rate Senior Notes due 4/20/28 4.21% and $2B 5.297% 15NC10 Fixed to Floating Rate Notes due 4/20/27

C.L. King Co-Manages $8.5 Billion JPMorgan Chase & Co Bond Offering

C.L. King acted as Co-Manager for JPMorgan Chase & Co. in its $8.5B 4-part offering consisting of $3B 4.080% 4NC3 Fixed to Floating Rate Notes due 4/26/26, $500M (SOFR+132) 4NC3 Fixed Rate Notes due 4/26/26, $3B 4.323% 6NC5 Fixed to Floating Rate Notes due 4/26/28, and $2B 11NC10 Fixed to Floating Rate Notes due 4/26/33.

This issue is rated A1/BBB+.

C.L. King Co-Manages $500 Million Wendy’s WBS

C.L. King acted as Placement Agent for Wendy’s Funding, LLC in its $500M 144A/Reg S Series 2022-1 2-part Senior Secured Notes transaction including $100M 4.236% Notes, Class A-2-I due 3/2052 and $400M 4.535% Notes, Class A-2-II due 3/2052. These issues were rated BBB.

C.L. King Co-Manages $525 Million Ameren Missouri Bond Offering

C.L. King acted as Co-Manager for Union Electric Company, doing business as Ameren Missouri in its $525M 3.9% 30yr First Mortgage Green Bonds offering due 4/1/52. (NYSE:AEE).

This issue is rated A2/A/A

C.L. King Co-Manages $900 Million Duke Energy Progress Bond Offering

C.L. King acted as Co-Manager for Duke Energy Progress, LLC in its $900M 2-part offering consisting of $500M 3.40% 10yr Sustainable First Mortgage Bonds due 4/1/32 and $400M 4.0% 30yr Sustainable First Mortgage Bonds due 4/1/52. (NYSE:DUK)

This issue is rated Aa3/A

C.L. King Co-Manages $2.25 Billion Citigroup Bond Offering

C.L. King acted as Senior Co-Manager for Citigroup Inc in its $2.25B 2-part $500M 4NC3 Floating Rate Senior Notes due 3/17/26 (SOFR+152.8) and $1.75B 3.29% 4NC3 Fixed to Floating Rate Senior Notes due 3/17/26. This was part of a $5.25B 3-part Senior Unsecured Notes offering including $3B 3.785% 11NC10 Fixed to Floating Rate Senior Notes due 3/17/33. (NYSE: C).

This issue is rated A3/BBB+

C.L. King Co-Manages $400 Million Avista Bond Offering

C.L. King acted as Co-Manager for Avista Corporation in its $400M 4.0% 30yr senior notes offering due 4/1/52.

This issue is rated A3/A-.

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

C.L. King acted as Co-Manager for Mondelez International, Inc. in its $2B 3-part senior notes offering consisting of $500M 2.125% 2yr notes due 3/17/24, $750M 2.625% 5yr notes due 3/17/27 and $750M 3.0% 10yr notes due 3/17/32. (NASDAQ:MDLZ).  This issue is rated Baa1/BBB

C.L. King Co-Manages $3.5 Billion Wells Fargo Bond Offering

C.L. King acted as Co-Manager for Wells Fargo & Co in its $3.5B 3.35% 11NC10 Fixed to Floating Rate senior notes offering due 3/2/33. (NYSE:WFC).

This issue is rated A1/BBB+.

C.L. King Co-Manages $700 Million AutoNation Bond Offering

C.L. King acted as Co-Manager for AutoNation Inc. in its $700M 3.85% 10yr senior notes offering due 3/1/32. (NYSE:AN).

This issue is rated Baa3/BBB-.

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

C.L. King acted as Co-Manager for Citigroup Inc in its $3B 2-part senior notes offering consisting of $2.5B 3.07% 6NC5 Fixed to Floating Rate notes due 2/24/28 and $500M 6NC5 Floating Rate notes due 2/24/28 (SOFR+128). (NYSE: C).  This issue is rated A3/BBB+.

C.L. King Co-Manages €750 Million Mastercard Bond Offering

C.L. King acted as Co-Manager for Mastercard Incorporated in its €750M 1.0% 7yr senior notes offering due 2/22/29. (NYSE:MA).

This issue is rated A1/A+.

C.L. King Co-Manages $325 Million Tucson Electric Power Bond Offering

C.L. King acted as Co-Manager for Tucson Electric Power Company in its $325M 3.25% 10yr senior notes offering due 5/15/32. Tucson Electric Power Company is a wholly owned subsidiary of Fortis Inc. (NYSE:FTS).

This issue is rated A3/A-.

C.L. King Co-Manages $1.5 Billion Enbridge Bond Offering

C.L. King acted as Co-Manager for Enbridge Inc. in its $1.5B 3-part senior notes offering consisting of $400M 2.15% 2yr notes due 2/16/24, $600M 2yr Floating Rate notes due 2/16/24 (SOFR+63) and $500M 2.5% 3yr notes due 2/14/25. (NYSE:ENB).  This issue is rated Baa1/BBB+.

C.L. King Acted as Selling Group Member on US Bancorp’s $450 Million Preferred Stock Offering

C.L. King acted as Selling Group Member for U.S. Bancorp in its $450M 4.5% PerpNC5 Non-Cumulative Preferred Stock, Series O, offering of 18,000,000 depositary shares with an offering price of $25 per share.

The issue is rated A3/BBB/BBB+.

C.L. King Co-Manages $250 Million Xometry Convertible Offering

C.L. King acted as Co-Manager for Xometry, Inc. in its 1.0% $250M 144A Convertible Senior Notes offering due 2027. (NASDAQ: XMTR).

This issue is not rated.

C.L. King Acted as Co-Manager on Bank of America’s $700 Million Preferred Stock Offering

C.L. King acted as Co-Manager for Bank of America in its $700M 4.75% PerpNC5 Non-Cumulative Preferred Stock, Series SS, offering of 28,000,000 depositary shares with an offering price of $25 per share.

The issue is rated Baa3/BBB-/BBB.

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

C.L. King acted as Jr. Co-Manager for Citigroup Inc in its $3B 3.057% 11NC10 Fixed to Floating Rate Senior Notes offering due 1/25/33. This was part of a $5.5B 3-part Senior Unsecured Notes offering including $500M 4NC3 Floating Rate Social Notes due 1/25/26 (SOFR+69.4) and $2B 2.014% 4NC3 Social Notes due 1/25/26. (NYSE: C).

This issue is rated A3/BBB+.

C.L. King Co-Manages $2.5 Billion Florida Power & Light Bond Offering

C.L. King acted as Jr. Co-Manager for Florida Power & Light Company in its $2.5B 2-part senior notes offering. Consisting of $1B 2NC6mo Floating Rate Notes due 1/12/24 (SOFR+38) rated A1/A/A+ and $1.5B 2.45% 10yr First Mortgage Bonds due 2/3/32 rated Aa2/A+/AA-.

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

C.L. King Co-Manages $2.6 Billion Toyota Motor Bond Offering

C.L. King acted as Co-Manager for Toyota Motor Credit Corp in its $2.6B 4-part Senior Unsecured Notes offering including $300M Floating Rate Notes due 1/13/25 (SOFR+32), 1.45% $1.15B due 1/13/25, 1.90% $750M due 1/13/27, and 2.40% $400M due 1/13/32.

This issue is rated A1/A+.