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Published on 11/26/2014 in the Prospect News Investment Grade Daily.

Investment Grade Calendar

On The Horizon

ACTAVIS PLC

• New debt to help fund the acquisition of Allergan, Inc.

• Actavis is a pharmaceutical company with headquarters in Dublin

• Irvine, Calif.-based Allergan is a multi-specialty health-care company

BECTON, DICKINSON & CO.

• Planned $7.7 billion offering of new debt that includes senior notes, commercial paper and a $1 billion term loan

• Goldman Sachs & Co.

• Proceeds will be used to help 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.

LABORATORY CORP. OF AMERICA HOLDINGS

• $13.9 billion of new debt to fund the acquisition of Covance Inc.

• Burlington, N.C.-based LabCorp develops diagnostic technologies through genomic testing

RENAISSANCERE HOLDINGS LTD.

• An incremental $300 million of senior notes to help fund the $1.9 billion acquisition of Platinum Underwriters Holdings, Ltd.

• Property catastrophe reinsurer based in Pembroke, Bermuda

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 company’s 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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