Private Placement Calendar

Upcoming Closings

November 15

TIDEWATER INC.: $200 million portion of $500 million issue of senior notes ($300 million portion settled Sept. 30); issue includes $123 million of 4.26% notes, series 2013-A, due Nov. 16, 2020, $250 million of 5.01% notes, series 2013-B, due Nov. 15, 2023 and $127 million of 5.16% notes, series 2013-C, due Nov. 17, 2025; proceeds to refinance borrowings under the company's existing $600 million revolving credit facility, to fund capital expenditures related to ongoing fleet enhancement program and for general corporate purposes; purchasers include United Guaranty Mortgage Indemnity Co., United Guaranty Residential Co., AGC Life Insurance Co., Lexington Insurance Co., Variable Annuity Life Insurance Co., Northwestern Mutual Life Insurance Co., Northwestern Long Term Care Insurance Co., Prudential Insurance Co. of America, Gibraltar Life Insurance Co., Ltd., Prudential Retirement Insurance and Annuity Co., Farmers Insurance Exchange, Mid Century Insurance Co., Nationwide Life Insurance Co., Nationwide Mutual Insurance Co., Nationwide Life and Annuity Insurance Co., New York Life Insurance and Annuity Corp., Institutionally Owned Life Insurance Separate Account (BOLI 30C), New York Life Insurance and Annuity Corp., New York Life Insurance Co., Auto-Owners Insurance Co., Auto-Owners Life Insurance Co., Western and Southern Life Insurance Co., Columbus Life Insurance Co., Integrity Life Insurance Co., Lafayette Life Insurance Co., Wells Fargo Bank, NA, United of Omaha Life Insurance Co., Companion Life Insurance Co., Mutual of Omaha Insurance Co., Life Insurance Co. of the Southwest, Fireman's Fund Insurance Co., Allianz Global Risks US Insurance Co., Woodmen of the World Life Insurance Society, Modern Woodmen of America, American Family Life Insurance Co., Builders Insurance, Physicians Insurance, Federated Rural Electric Insurance Exchange, Pharmacists Life Insurance Co., Fitchburg Mutual Insurance Co., Norfolk & Dedham Mutual Fire Insurance Co., National Mutual Benefit, and Assurity Life Insurance Co., New Orleans-based provider of offshore service vessels and marine support services to the offshore energy industry.

WOODWARD, INC.: $150 million of floating- and fixed-rate senior notes; the weighted average interest rate on the fixed-rate notes is 4.11%; Fort Collins, Colo.-based company, formerly Woodward Governor Co., that designs, manufactures and services control products for the aerospace and energy markets.

November

SENSIENT TECHNOLOGIES CORP.: $75 million of 3.66% senior notes and about €38 million of 3.06% senior notes maturing in 2023; proceeds for future liquidity needs and for debt repayment; purchasers include New York Life Insurance Co., Metropolitan Life Insurance Co. and Prudential Insurance Co. of America; Milwaukee-based manufacturer and marketer of colors, flavors and fragrances.

December 5

VECTREN UTILITY HOLDINGS, INC.: $150 million of 10-year 3.72% senior notes; proceeds to repay debt and for general corporate purposes; subsidiary of Vectren Corp., an Evansville, Ind.-based energy holding company.

December 16

CHESAPEAKE UTILITIES CORP.: $20 million of 3.73% senior notes, series A, due Dec. 16, 2028; $2 million annual principal payments due beginning Dec. 16, 2019; prepayable in whole or in part at any time upon payment of a prepayment premium; proceeds to reduce short-term borrowings under the company's lines of credit and to fund capital expenditures; a Dover, Del.-based diversified utility company.

December 17

CASEY'S GENERAL STORES, INC.: $50 million of 3.75% series B notes due Dec. 18, 2028; annual mandatory principal prepayments required beginning in 2022; make-whole call option at Treasuries plus 50 basis points; proceeds to be used to construct, remodel and acquire stores and for other working capital purposes; purchasers include Prudential Insurance Co. of America, Gibraltar Life Insurance Co., Ltd., Farmers Insurance Exchange, Mid Century Insurance Co., New York Life Insurance Co., New York Life Insurance and Annuity Corp., ING USA Annuity and Life Insurance Co., Reliastar Life Insurance Co., ING Life Insurance and Annuity Co., Reliastar Life Insurance Co. of New York, Security Life Of Denver Insurance Co., Metropolitan Life Insurance Co., General American Life Insurance Co. and Union Fidelity Life Insurance Co.; Ankeny, Iowa-based convenience store operator.

December

QUESTAR GAS CO.: $90 million of 30-year 4.78% notes and $60 million of 35-year 4.83% notes; proceeds to refinance debt and for general corporate purposes; Salt Lake City-based public utility.

2014

February 27

OTTER TAIL POWER CO.: $60 million 4.68% series A senior unsecured notes due Feb. 27, 2029 and $90 million 5.47% series B senior unsecured notes due Feb. 27, 2044; Otter Tail Power may prepay all or any part of the notes at 100% of the principal amount prepaid, together with accrued interest and a make-whole amount; proceeds to retire Otter Tail Power's $40.9 million senior unsecured term loan and to repay short-term debt; J.P. Morgan Securities LLC acted as placement agent; a Fergus Falls, Minn.-based electric utility company.

May 15

CHESAPEAKE UTILITIES CORP.: $50 million of 3.88% senior notes, series B, due May 15, 2029; $5 million annual principal payments due beginning May 15, 2020; prepayable in whole or in part at any time upon payment of a prepayment premium; proceeds to reduce short-term borrowings under the company's lines of credit and to fund capital expenditures; a Dover, Del.-based diversified utility company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.