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Investment Grade Calendar
On The Horizon
ALTAGAS LTD.:
Company to price offerings of senior debt, preferred shares and hybrid securities, as well as asset sales.
A $2 billion tranche of bridge facilities allocated to covering asset sales
A $4.9 billion bridge financing facility arranged with JPMorgan Chase Bank, Toronto-Dominion Bank and Royal Bank of Canada
Company to obtain permanent financing through C$400 million private placement of subscription receipts to Omers, Ontarios pension plan for municipal employees, and C$2.1 billion brought subscription receipts offering launched on Jan. 25
Proceeds to finance C$8.4 billion acquisition of energy infrastructure company WGL Holdings, Inc., a deal not contingent on financing
Calgary, Alta.-based North American energy infrastructure company.
ANTHEM INC.:
New debt to fund proposed acquisition of Cigna Corp.
Fully committed financing from Bank of America, Credit Suisse, UBS Investment Bank
Expects $22 billion of term loans and public debt
Indianapolis-based health benefits company
BRITISH AMERICAN TOBACCO PLC:
New bonds, new bank credit lines and cash resources to fund acquisition of Reynolds American Inc.
A $25 billion acquisition facility has been arranged with a syndicate of banks and is comprised of $15 billion and $5 billion bridge loans with one- and two-year maturities, respectively, each with two six-month extensions available at British American Tobaccos option
British American Tobacco intends to refinance the bridge loans through capital market debt issuances
Multinational tobacco company based in London
GREAT PLAINS ENERGY INC.:
Financing expected to include $4.4 billion of new debt
$8,017,000,000 of committed debt financing from Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC and $750 million mandatory preferred convertible equity commitment from Ontario Municipal Employees Retirement System
Proceeds to fund acquisition of Westar Energy Inc.
Closing expected in spring 2017
Kansas City, Mo.-based holding company of electric utilities Kansas City Power & Light and KCP&L Greater Missouri.
TWENTY-FIRST CENTURY FOX, INC.:
Plans about $10 billion of new debt to fund cash offer to acquire Sky plc
Company with subsidiary 21st Century Fox America, Inc. negotiated bridge credit agreement to borrow up to £12.2 billion, which will be replaced with the longer-dated permanent financing of $10 billion before acquisition closes
Credit agreement arranged with joint lead arrangers and bookrunners Goldman Sachs & Co., Deutsche Bank Securities Inc. and JPMorgan Chase Bank, NA
Closing expected by end of 2017
New York-based company operates cable and broadcasting networks and properties.
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