Transactions

C.L. King Co-Manages $400 Million Tucson Electric Power Bond Offering

C.L. King acted as Co-Manager for Tucson Electric Power Company in its $400M 5.2% 10yr Senior Unsecured Notes due 09/15/2034. Tucson Electric Power is a wholly owned subsidiary of Fortis Inc. (NYSE: FTS).
This issue is rated A3/A-.

C.L. King Co-Manages $2.5 Billion Toyota Motor Credit Corp Bond Offering

C.L. King acted as Co-Manager for Toyota Motor Credit Corp in its $2.5B 3-part Medium Term Notes, Series B offering consisting of $750M 4.55% 2yr Fixed Senior Notes due 08/07/26, $750M 2yr (SOFR+77) Floating Rate Notes due 08/07/26 and $1B 4.50% 5yr Fixed Senior Notes due 08/09/29. Toyota Motor Credit Corp is wholly-owned by Toyota Motor Corporation (NYSE: TM).
These issues were rated A1/A+/A+.

C.L. King Co-Manages $1.45 Billion Ford Motor Credit ABS

C.L. King acted as Co-Manager for Ford Motor Credit Company LLC in its $1.45B Ford Credit Prime Auto Lease FORDL 2024-B ABS transaction.
Ford Motor Credit Company LLC is wholly owned by Ford Motor Company (NYSE: F).

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

C.L. King acted as a Co-Manager for Morgan Stanley on its $3.25B 5.320% 11NC10 Fixed to Floating Senior Unsecured Notes due 7/19/35. This was part of a $8B 4-part debt offering which also included a $1.5B 4NC3 4.968% 3a2 Senior Bank Notes due 7/14/28, $1B 4NC3 SOFR+94 3a2 Floating Senior Bank Notes due 7/14/28, and $2.25B 5.042% 6NC5 Fixed to Floating Senior Unsecured Notes due 7/19/30. (NYSE:MS).
These issues were rated Aa3/A+/AA- and A1/A-/A+.

C.L. King Co-Manages $5.5 Billion Goldman Sachs Bond Offering

C.L. King acted as Co-Manager for Goldman Sachs in its $5.5B 2-part debt offering consisting of $2.5B 5.049% 6NC5 Fixed to Floating Senior Unsecured Notes due 7/23/2030 and $3B 5.33% 11NC10 Fixed to Floating Senior Unsecured Notes due 7/23/2035. (NYSE:GS).
These issues were rated A2/BBB+.

C.L. King Co-Manages $2 Billion Wells Fargo’s Preferred Stock Offering

C.L. King acted as Senior Co-Manager for Wells Fargo & Co in its $1,000 par PerpNC5 $2B 6.85% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series FF. The company offered 2,000,000 depositary preferred shares. (NYSE: WFC).
These issues were rated Baa2/BB+/BBB.

C.L. King Co-Manages $9 Billion JPMorgan Bond Offering

C.L. King acted as Co-Manager for JPMorgan Chase & Co in its $9B 4-part offering consisting of $2B 4.979% 4NC3 Fixed Notes due 7/22/28, $750M 4NC3 SOFR+93 Floating Rate Notes due 7/22/28, $2.75B 4.995% 6NC5 Fixed to Floating Notes due 7/22/29 and $3.5B 5.294% 11NC10 Fixed to Floating Notes due 7/22/35. (NYSE: JPM).
These issues were rated A1/A-/AA-.

C.L. King acted as Co-Manager for Enbridge Inc in its $1.2B 2-part debt offering consisting of $500M 7.375% 30.75NC5.5 Series A Jr Sub Notes due 03/15/55 and $700M 7.2% 30NC9.75 Series A Jr Sub Notes due 06/27/54. (NYSE: ENB). These issues were rated Baa3/BBB-/BBB-.

C.L. King Co-Manages $800M Baltimore Gas & Electric Bond Offering

C.L. King acted as Co-Manager for Baltimore Gas and Electric Co in its $800M 2-part offering consisting of $400M 5.3% 10yr Senior Notes due 6/01/34 and $400M 5.65% 30yr Senior Notes due 6/01/54. Baltimore Gas and Electric Co is a wholly-owned subsidiary of Exelon Corporation (NASDAQ: EXC).
These issues were rated A3/A/A.

C.L. King Co-Manages $550M New York Life Bond Offering

C.L. King acted as Co-Manager for New York Life Global Funding in its $550M 5.00% 5yr FA backed domestic MTNs due 6/06/29. New York Life Global Funding is a special purpose statutory trust, and the notes are backed by funding agreements issued by New York Life Insurance Company.
These issues were rated Aaa/AA+/AAA.

C.L. King Co-Manages $3.25 Billion HSBC Holdings Bond Offering

C.L. King acted as a Co-Manager for HSBC Holdings PLC in its $3.25B 2-tranche debt offering consisting of $1.85B 5.597% 4NC3 Fixed to Floating Senior Unsecured Notes due 5/17/28 and $1.4B 8NC7 Fixed to Floating Senior Unsecured Notes due 5/17/32 (NYSE:HSBC).
These issues were rated A3/A-/A+.

C.L. King Co-Manages $750 Million Southern California Edison Bond Offering

C.L. King acted as Co-Manager for Southern California Edison Company in its $750M 5.45% 7yr First Mortgage Bonds due 6/1/31. Southern California Edison is a wholly-owned subsidiary of Edison International (NYSE: EIX).
This issue was rated A2/A-/A-.

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

C.L. King acted as Co-Manager for Goldman Sachs in its $5B 2-part debt offering consisting of $2.5B 5.727% 6NC5 Fixed to Floating Senior Unsecured Notes due 4/25/2030 and $2.5B 5.851% 11NC10 Fixed to Floating Senior Unsecured Notes due 4/25/2035. (NYSE:GS).
These issues were A2/BBB+/A.

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

C.L. King acted as Junior Co-Manager for Citibank, NA in its $1B 2yr SOFR+59 Floating Rate Bank Notes offering due 4/30/26. This was part of a $5B 3-part 3a2 debt offering which also included a $2B 5.438% 2yr Senior Bank Notes due 4/30/26 and $2B 10yr 5.570% Senior Bank Notes due 4/30/34. Citibank NA is a wholly owned subsidiary of Citigroup Inc. (NYSE:C).
These issues were rated Aa3/A+/A+.

C.L. King Co-Manages $875 Million Verizon ABS

C.L. King acted as Co-Manager for Verizon Communications Inc. in its $875M Device Payment Plan VZMT 2024-3 ABS transaction. Verizon Master Trust is an indirect wholly owned subsidiary of Verizon Communications Inc. (NYSE:VZ).

C.L. King Co-Manages $9 Billion JPMorgan Bond Offering

C.L. King acted as Co-Manager for JPMorgan Chase & Co in its $9B 4-part offering consisting of $2.5B 5.571% 4NC3 Fixed to Floating Notes due 4/22/28, $750M 4NC3 SOFR+92 Floating Rate Notes due 4/22/28, $2.75B 5.581% 6NC5 Fixed to Floating Notes due 4/22/30 and $3B 5.766% 11NC10 Fixed to Floating Notes due 4/22/35. (NYSE: JPM).
These issues were rated A1/A-/AA-.

C.L. King Co-Manages $4.25 Billion Wells Fargo Bond Offering

C.L. King acted as Co-Manager for Wells Fargo & Co in its $4.25B 2-part offering consisting of $3.25B 5.707% 4NC3 Fixed to Floating Notes due 4/22/28 and $1B 4NC3 SOFR+107 Floating Rate Notes due 4/22/28. (NYSE: WFC).
These issues were rated A1/BBB+/A+.

C.L. King Co-Manages $3.5B Enbridge Bond Offering

C.L. King acted as Co-Manager for Enbridge Inc in its $3.5B 4-part debt offering consisting of $750M 5.25% 3yr Senior Notes due 04/05/27, $750M 5.3% 5yr Senior Notes due 04/05/29, $1.2B 5.625% 10yr Senior Notes due 04/05/34 and $800M 5.95% 30yr Senior Notes due 04/05/54. (NYSE: ENB).
These issues were rated Baa2/BBB+/BBB+.

C.L. King Co-Manages $1.55 Billion Ford Motor Credit ABS

C.L. King acted as Co-Manager for Ford Motor Credit Company LLC in its $1.55B Ford Prime Auto Loan FORDO 2024-A ABS transaction.
Ford Motor Credit Company LLC is wholly owned by Ford Motor Company (NYSE: F).

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

C.L. King acted as Co-Manager for AEP Transmission Co LLC in its 5.15% $450M Senior Unsecured Notes due 4/01/34. AEP Transmission Co is a subsidiary of American Electric Power Company (NASDAQ: AEP).
This issue is rated A2/BBB+/A.