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Investment Grade Calendar
On The Horizon
AETNA INC.:
• Senior notes to help finance acquisition of Humana Inc.
• Health care benefits company based in Hartford, Conn.
ALGONQUIN POWER & UTILITIES CORP.:
• Long-term debt
• Proceeds will be used to acquire Empire District Electric Co. and subsidiaries in an all-cash transaction valued at $2.4 billion
• Closing is expected in the first quarter of 2017
• Financing could include U.S. and Canadian debt issuance
• Algonquin is an oil and gas explorer based in Calgary, Alta.
ANTHEM INC.:
• New debt to fund proposed acquisition of Cigna Corp.
• Fully committed financing from Bank of America, Credit Suisse, UBS Investment Bank
• Expects $22 billion of term loans and public debt
• Indianapolis-based health benefits company
EMERA INC.:
• Long-term debt
• Proceeds will be used to fund its acquisition of TECO Energy Inc.
• Tampa, Fla.-based TECO Energy is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico
• Halifax, N.S.-based Emera invests in electricity generation, transmission and distribution as well as gas transmission and utility energy services
FORTIS INC.:
• $2 billion of debt in the U.S. market
• Proceeds will be used for its $11.3 billion acquisition of ITC Holdings Corp.
• Closing is expected to occur in late 2016
• Fortis is a St. John's, Newfoundland-based investor-owned gas and electric distributor
TRANSCANADA CORP.:
• Acquisition of Columbia Pipeline Group Inc.
• $10.3 billion of senior unsecured bridge credit facilities in place with a syndicate of lenders
• Transaction is valued at about $13 billion
• Expected to close in second half of 2016
• TransCanada is a natural gas and oil pipeline and storage company based in Calgary, Alta. Houston-based Columbia Pipeline owns and operates natural gas pipelines
TYCO INTERNATIONAL FINANCE SA:
• $4 billion bridge and term loan commitment letters
• 3.5-year senior unsecured term loan facility
• Initial interest under both term and bridge loans Libor plus 125 bps to Libor plus 175 bps
• Citigroup Global Markets Inc. (arranger)
• To fund Tyco International plc merger with Johnson Controls, Inc.
• Merger agreement allows either party to terminate transaction if merger not completed by Oct. 24
• Tyco International is a Cork, Ireland-based security systems company
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