Private Placement Calendar

Upcoming Pricings

CLEAVER-BROOKS, INC.:

• $40 million of five-year senior notes;

• The notes will be secured by a third-priority lien on all of the company’s present and future assets that secure its existing 8Ύ% senior secured notes due 2019 and its asset-based revolver;

• Proceeds, together with other capital sources, are expected to be used to fund the previously disclosed acquisition by Cleaver-Brooks of a related business;

• Thomasville, Ga.-based provider of boiler room products.

Upcoming Closings

June 30

FORTIS INC.:

• $213 million of senior notes priced on March 28;

• Weighted average term to maturity of about 11 years;

• Weighted average coupon of 3.85%;

• Via Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC as joint placement agents;

• Proceeds to refinance debt, including the $150 million of 5.74% senior notes maturing on Oct. 30, 2014 and C$125 million of 5.56% debentures of a subsidiary maturing on Sept. 15, 2014, and for general corporate purposes, including the repayment of U.S.-dollar drawings on the company’s committed credit facility;

• St. John’s, Newfoundland-based investor-owned gas and electric distributor.

PRIMARY HEALTH PROPERTIES LLC subsidiary PHP Bond Finance plc:

• £10,000,200 portion of £70 million placement of floating-rate secured bonds due 2025;

• Interest rate is Libor plus 220 bps;

• Via arranger Debt Capital Markets LLP;

• £59,999,800 portion of placement settled Nov. 4;

• Proceeds to be used to maintain and develop property and/or to repay debt;

• London-based provider of primary health-care facilities.

XCITE ENERGY RESOURCES LTD.:

• $140 million issuance of two-year senior secured bonds and new shares;

• Coupon is 12% payable in cash plus 3% payable in kind or in cash;

• Proceeds to refinance $80 million of 12.5% unsecured loan notes due Dec. 25, 2014, to fund the Bentley field development work program and for general corporate purposes;

• Pareto Securities acted as the manager and bookrunner of the bond issue;

• A subsidiary of Xcite Energy Ltd., a Tortola, Virgin Islands-based oil exploration and development company.

June

HAMMERSON PLC:

• Two tranches of fixed-rate seven-, 10- and 12-year notes totaling $443 million with nine U.S. institutions;

• Notes are denominated in dollars, British pounds sterling and euros, with the dollar portion being swapped to fixed euro;

• Weighted average coupon is 3.6%;

• Weighted average maturity is nine years;

• The equivalent nominal value is £277 million;

• BofA Merrill Lynch, JPMorgan and Barclays are the agents;

• Proceeds will be used to partly refinance upcoming bond maturities including €480 million of 4.875% eurobonds due 2015;

• London-based real estate investment trust.

July 1

STAG INDUSTRIAL, INC.:

• $50 million of 4.98% 12-year senior notes, series B;

• The notes have a make-whole call at Treasuries plus 50 basis points;

• Purchasers include American Republic Insurance Co., United Insurance Co. of America, Mutual Savings Life Insurance Co., Catholic United Financial, Catholic Life Insurance Union, Colorado Bankers Life Insurance Co., Farm Bureau Life Insurance Co. of Michigan, Fidelity Life Association, Dearborn National Life Insurance Co., Great Western Insurance Co., MTL Insurance Co., Trustmark Insurance Co., Vantis Life Insurance Co., Allianz Life Insurance Co. of North America, AXA Equitable Life Insurance Co., MONY Life Insurance Co. of America, Guardian Life Insurance Co. of America, Guardian Insurance & Annuity Co., Inc. and Prima Mortgage Investment Trust, LLC;

• Boston-based real estate company.

July 30

KAYNE ANDERSON MLP INVESTMENT CO.:

• $30 million of 2.88% series II notes due 2019;

• $30 million of 3.46% series JJ notes due 2021;

• Proceeds to refinance existing debt, to make new portfolio investments and for general corporate purposes;

• Houston-based non-diversified, closed-end management company.

July 31

ALLIANCE TRUST PLC:

• £100 million fixed-rate 15-year notes with a coupon of 4.28%;

• Principal repayment date is July 31, 2029;

• Proceeds will be used to retire £100 million of the company's existing £380 million gearing, all of which is currently short-term funding;

• A Dundee, Scotland-based investment and savings business.

July

ABP ACQUISITIONS UK LTD.:

• $235 million of floating-rate senior secured guaranteed notes in four tranches with eight-, nine-, 10- and 15-year maturities;

• £115 million of floating-rate senior secured guaranteed notes in two tranches with nine- and 15-year maturities;

• Proceeds for intra-group lending and to refinance debt;

• London-based port operator.

August 5

SAN JOSE WATER CO.:

• $50 million of 5.14% senior notes, series L, due 2044;

• Purchasers are John Hancock Life Insurance Co. (U.S.A.) and John Hancock Life Insurance Co. of New York;

• The notes have a make-whole call at Treasuries plus 50 basis points;

• A wholly owned subsidiary of SJW Corp., an investor-owned public utility based in San Jose, Calif.

August 15

PORTLAND GENERAL ELECTRIC CO.;

• $100 million 4.39% first mortgage bonds due 2045;

• Sold to institutional investors;

• Sale subject to company meeting certain earnings coverage and security provisions;

• Portland, Ore.-based energy provider.

August 22

INTERNATIONAL TRANSMISSION CO.:

• $25 million of 4.27% first mortgage bonds, series F, due 2044;

• Proceeds to refinance debt, to partially fund capital expenditures or for general corporate purposes;

• Subsidiary of ITC Holdings Corp., a Novi, Mich.-based independent electric transmission company.

September 3

OAKTREE CAPITAL MANAGEMENT, LP:

• $50 million of 3.91% senior notes due 2024;

• $100 million of 4.01% senior notes due 2026;

• $100 million of 4.21% senior notes due 2029;

• Proceeds will be used for working capital and general corporate purposes;

• Subsidiaries Oaktree Capital I, LP, Oaktree Capital II, LP and Oaktree AIF Investments, LP are guarantors;

• Los Angeles-based asset management firm.

September 15

FORTIS INC.:

• $287 million of senior notes priced on March 28;

• Weighted average term to maturity of about 11 years;

• Weighted average coupon rate of 3.85%;

• Via Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC as joint placement agents;

• Proceeds to refinance debt, including the $150 million of 5.74% senior notes maturing on Oct. 30, 2014 and C$125 million of 5.56% debentures of a subsidiary maturing on Sept. 15, 2014, and for general corporate purposes, including the repayment of U.S.-dollar drawings on the company’s committed credit facility;

• St. John’s, Newfoundland-based investor-owned gas and electric distributor.

October 1

STAG INDUSTRIAL, INC.:

• $50 million of 4.98% 10-year senior notes, series A

• The notes have a make-whole call at Treasuries plus 50 basis points;

• Purchasers include American Republic Insurance Co.; United Insurance Co. of America; Mutual Savings Life Insurance Co.; Catholic United Financial; Catholic Life Insurance Union; Colorado Bankers Life Insurance Co.; Farm Bureau Life Insurance Co. of Michigan; Fidelity Life Association; Dearborn National Life Insurance Co.; Great Western Insurance Co.; MTL Insurance Co.; Trustmark Insurance Co.; Vantis Life Insurance Co.; Allianz Life Insurance Co. of North America; AXA Equitable Life Insurance Co.; MONY Life Insurance Co. of America; The Guardian Life Insurance Co. of America; The Guardian Insurance & Annuity Co., Inc.; and Prima Mortgage Investment Trust, LLC.

• Boston-based real estate company.

October 15

PORTLAND GENERAL ELECTRIC CO.;

• $100 million 4.44% first mortgage bonds due 2046;

• Sold to institutional investors;

• Sale subject to company meeting certain earnings coverage and security provisions;

• Portland, Ore.-based energy provider.

November 17

PORTLAND GENERAL ELECTRIC CO.;

• $80 million 3.51% first mortgage bonds due 2024;

• Sold to institutional investors;

• Sale subject to company meeting certain earnings coverage and security provisions;

• Portland, Ore.-based energy provider. 1

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