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Investment Grade Calendar
Nov. 3 Week
COUNCIL OF EUROPE DEVELOPMENT BANK
$1 billion of global bonds (Aa1/AA+/) talked in the mid-swaps plus 3 bps area
Credit Agricole, HSBC Securities, Morgan Stanley & Co. LLC, TD Securities.
Financing and development institution for social projects in Europe is based in Paris
BANK NEDERLANDSE GEMEENTEN NV
Planned 18-month notes talked in the mid-swaps minus 1 bp area
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Nomura
Local government funding agency is based in the Hague, the Netherlands
FANNIE MAE
Benchmark Notes due Nov. 26, 2019 talked in the 20 bps area over Treasuries
Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
Government-backed mortgage lender is based in Washington, D.C.
On The Horizon
ALBEMARLE CORP.
$1.5 billion of senior notes to help finance acquisition of Rockwood Holdings, Inc.
Baton Rouge, La.-based Albemarle is a manufacturer of polymers and fine chemicals.
Princeton, N.J.-based Rockwood is a specialty chemicals and advanced materials company and is a wholly owned subsidiary Rockwood Specialties Group, Inc.
BECTON, DICKINSON & CO.
New unsecured notes
Goldman Sachs & Co.
Proceeds will be used to fund the cash portion of its $12.2 billion acquisition of CareFusion Corp.
Medical technology and supply company based in Franklin Lakes, N.J.
ENDURANCE SPECIALTY HOLDINGS LTD.
Planned debt offering to help fund the proposed acquisition of Aspen Insurance Holdings Ltd.
Morgan Stanley & Co. LLC
Pembroke, Bermuda-based property and casualty insurance and reinsurance provider
FIDELITY NATIONAL FINANCIAL INC.
$1.4 billion of debt, including longer-term bonds
To fund majority of cash portion of acquisition of majority of common shares of Lender Processing Services, Inc.
Jacksonville, Fla.-based provider of title service, mortgage and diversified services.
REYNOLDS AMERICAN INC.
New debt of $9 billion, along with excess cash of $500 million, divestiture net proceeds of $4.4 billion, stock issued to Lorillard of $6.6 billion and proceeds from the companys largest shareholder BAT of $4.7 billion; to finance $27.4 billion acquisition of Lorillard, Inc.
Expected in the first half of 2015
Lorillard is a Greensboro, N.C.-based cigarette maker. Reynolds American is a Winston-Salem, N.C.-based manufacturer and seller of cigarettes and other tobacco products.
SELECT INCOME REIT
New notes to help fund acquisition of Cole Corporate Income Trust for about $3 billion
Select Income owns properties that are primarily net leased to single tenants and is based in Newton, Mass.
SOUTHWESTERN ENERGY CO.
Possible debt to help fund acquisition of assets in West Virginia and Pennsylvania from Chesapeake Energy Corp., depending on market conditions
Houston-based oil and gas company
WISCONSIN ENERGY CORP.
$1.5 billion of debt
To fund the acquisition of Integrys Energy Group Inc.
Gas and electric company based in Milwaukee
ZIMMER HOLDINGS INC.
Proposed offering of senior notes
Proceeds will be used to help fund the acquisition of Biomet, Inc.
Warsaw, Ind.-based developer and marketer of reconstructive and spinal implants, trauma and related orthopedic surgical products.
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