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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
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
GOVERNMENT PROPERTIES INCOME TRUST:
Plans to use funds from a stock sale, additional debt, including senior notes, mortgage financing and bank debt or proceeds from the sale of properties to fund $1.4 billion acquisition of First Potomac Realty Trust
Acquisition expected to close before end of 2017
Will acquire First Potomac for $11.15 per share in cash plus repayment or assumption of First Potomac debt with cash considering amounting to about $683 million
Government Properties to repay about $418 million of First Potomac debt and assume about $232 million of First Potomac mortgage debt
Government Properties is a Newton, Mass.-based real estate investment trust
First Potomac is a Bethesda, Md.-based real estate investment trust that focuses on industrial properties and business parks in the Washington, D.C., metropolitan area
THERMO FISHER SCIENTIFIC, INC.:
$5.2 billion of debt to fund $7.2 billion acquisition of Pantheon NV
Committed debt financing from Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC
Acquisition to close by end of 2017
Waltham, Mass.-based science technology company
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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