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, Ontario’s 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

AMAZON.COM, INC.:

• Benchmark multi-tranche senior notes

• Estimated deal size $10 billion-$15 billion area

• Rule 144A, Regulation S

• Fixed income investor calls Aug. 14

• BofA Merrill Lynch, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC (arrangers)

• Amazon.com to acquire Whole Foods Market Inc. for $13.7 billion in cash

• Seattle-based online commerce company

E*TRADE FINANCIAL CORP.:

• Senior notes in two parts due 2022 and 2027

• Proceeds used to help redeem all of the company’s $540 million of 5.375% senior notes due 2022 and all of its $460 million of 4.625% senior notes due 2023

• Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are bookrunners

• New York online brokerage firm

HYDRO ONE LTD.:

• $2.4 billion of five-, 10- and 30-year notes

• Proceeds to help finance acquisition of Avista Corp.

• Closing expected in second half of 2018

• Toronto-based electric utility

PEMBINA PIPELINE CORP.:

• C$600 million two-part add-on to its senior unsecured medium-term notes, comprised of existing C$350 million of 2.99% series 8 notes due Jan. 22, 2024 and C$250 million of 4.74% series 9 notes due Jan. 21, 2047

• Settlement is expected Aug. 16

• Proceeds used to repay short-term debt under the company’s credit facilities, for Pembina's capital program and for other general corporate purposes

• Calgary, Alta., transportation and midstream service provider for the energy industry

PHILIP MORRIS INTERNATIONAL INC.:

• Floating-rate senior notes due 2021

• Fixed income investor calls Aug. 10-11

• Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Societe Generale CIB (bookrunners)

• New York producer of cigarette and tobacco products

VMWARE, INC.:

• Senior notes

• BofA Merrill Lynch and J.P. Morgan Securities LLC (bookrunners)

• Proceeds will be used to fund a $1 billion share repurchase program through Aug. 31, 2018, to repay in full two promissory notes with a combined principal of $1.23 billion and for general corporate purposes.

• Palo Alto, Calif., virtualization solutions provider

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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