Issuer: | Aristotle Holding Inc.
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Size/Structure: | $4.1 billion of notes priced Nov. 14 in four tranches (Baa3/BBB+/BBB), includes $900 million of 2.75% three-year notes at 240 bps; $1.25 billion of 3.5% five-year notes at 260 bps; $1.25 billion of 4.75% 10-year notes at 280 bps; and $700 million of 6.125% 30-year bonds at 305 bps
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Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC
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Proceeds: | Pay a portion of the cash consideration payable to the stockholders of Medco Health Solutions, Inc.
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• Notable because Aristotle was one of the few BBB names coming in at that size and financing at one of the more difficult periods of the year
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GILEAD SCIENCES INC.
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Issuer: | Gilead Sciences Inc.
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Size/Structure: | $3.7 billion of notes priced in four tranches (Baa1/A-) on Dec. 6, includes $750 million of 2.4% three-year notes at 205 bps, $700 million 3.05% five-year notes at 215 bps, $1.25 billion 4.4% 10-year notes at 235 bps, and $1 billion 5.65% 30-year bonds at 260 bps
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Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC
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Proceeds: | Pay a portion of the cash consideration for a tender offer and $11.1 billion merger with Pharmasset, Inc. along with related fees and expenses
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• Notable because of its new issue concessions between 50 bps and 75 bps and because it performed well and tightened in trading
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XYLEM INC. and EXELIS INC.
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Issuer: | ITT Corp. spinoffs Xylem Inc. and Exelis Inc.
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Size/Structure: | Xylem was $1.2 billion in two tranches (Baa2/BBB/BBB), including $600 million of 3.55% five-year notes at 265 bps and $600 million of 4.875% 10-year notes at 280 bps; Exelis was $650 million in two tranches (Baa3/BBB/BBB+), including $250 million 4.25% 10-year notes at 335 bps and $400 million of 5.55% 30-year bonds at 350 bps; both priced on Sept. 15.
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Bookrunners: | Xylem's were J.P. Morgan Securities LLC, RBS Securities Inc., Wells Fargo; Exelis' were Barclays Capital Inc., Citigroup Global Markets Inc., JPMorgan
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Proceeds: | General corporate purposes and to pay a special cash distribution to parent company ITT
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• Notable because it was a good talking point trade. The Exelis trade didn't go well at all and Xylem went so well. It was an interesting dynamic
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COCA-COLA CO.
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Issuer: | Coca-Cola Co.
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Size/Structure: | $2 billion of notes in two tranches (Aa3/A+/A+) priced Aug. 3, including $1 billion of 1.8% five-year notes at 57 bps and $1 billion of 3.3% 10-year notes at 72 bps
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Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co.
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Proceeds: | To fund a note exchange offer
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• Notable for its use of proceeds involving its bottle business in Europe
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GOOGLE INC.
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Issuer: | Google Inc.
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Size/Structure: | $3 billion of notes (Aa2/AA-) in three parts, priced on May 16, including $1 billion of 1.25% three-year notes at 33 bps, $1 billion of 2.125% five-year notes at 43 bps and $1 billion of 3.625% 10-year notes at 58 bps
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Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC
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Proceeds: | To repay commercial paper and for general corporate purposes
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• Notable because it was the company's inaugural debt sale
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VERIZON COMMUNICATIONS INC.
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Issuer: | Verizon Communications, Inc.
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Size/Structure: | $6.25 billion of notes (A3/A-/A) priced in five tranches on March 23 including $1 billion of three-year floaters priced at Libor plus 61 bps, $1.5 billion of 1.95% three-year notes at 85 bps, $1.25 billion of 2% five-year notes at 105 bps, $1.5 billion of 4.6% 10-year notes at 135 bps and $1 billion of 6% 30-year bonds priced at 165 bps
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Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc., Wells Fargo Securities LLC
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Proceeds: | To repay commercial paper and for general corporate purposes
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• Notable because of its size
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TRANSOCEAN INC.
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Issuer: | Transocean Inc.
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Size/Structure: | $2.5 billion of notes (Baa3/BBB-/BBB-) in three tranches on Nov. 30, including $1 billion of 5.05% five-year notes at 410 bps, $1.2 billion of 6.375% 10-year notes at 430 bps and $300 million of 7.35% 30-year bonds at 430 bps
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Bookrunners: | Barclays Capital Inc., Credit Suisse Securities, Mitsubishi UFJ Securities (USA) Inc.
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Proceeds: | About $659 million used to fund the expected repurchase of series B convertible notes that holders may require repurchase of in December. Proceeds may also be used to refinance outstanding commercial paper as it comes due
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• Notable because it performed well despite its low BBB credit ratings, coming in 50 bps to 60 bps in trading before it blew back out slightly
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INTEL CORP.
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Issuer: | Intel Corp.
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Size/Structure: | $5 billion of notes (A1/A+) in three parts on Sept. 14, including $1.5 billion of 1.95% five-year notes at 110 bps, $2 billion of 3.3% 10-year notes at 135 bps and $1.5 billion of 4.8% 30-year bonds at 160 bps
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Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co.
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Proceeds: | Repurchase common stock and for general corporate purposes
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• Notable because it was the company's inaugural debt sale
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