Private Placement Calendar

Upcoming Closings

June 24

GLOBAL WATER RESOURCES, INC.:

• $28.75 million of 4.28% series A 12-year notes;

• $86.25 million of 4.58% series B 20-year notes;

• Series A notes have a bullet payment due June 15, 2028;

• Series B notes have interest-only payments for first five years, followed by $3.8 million annual principal payments thereafter, made semiannually, with first payment of $1.9 million due Dec. 15, 2021;

• Proceeds to refinance existing long-term debt of $107 million and to pay associated prepayment penalties of $3.2 million;

• Phoenix-based owner and operator of water, wastewater and recycled water utilities.

June 30

UGI UTILITIES, INC.:

• $100 million of 2.95% senior notes, series A, due June 30, 2026;

• Interest is payable semiannually on June 30 and Dec. 30;

• Priced on March 31;

• Proceeds will be used to refinance existing debt and for other general corporate purposes;

• King of Prussia, Pa.-based holding company that distributes, stores, transports and markets energy products and related services through its subsidiaries.

June

ARTHUR J. GALLAGHER & CO.:

• $275 million of senior notes in three tranches;

• Due between 2026 and 2031;

• A weighted average interest rate of 4.47%;

• Itasca, Ill.-based insurance brokerage and risk management services company.

July 6

MEGGITT PLC:

• $600 million of seven- and 10-year senior notes with 23 U.S.-based investors;

• Transaction has a weighted average maturity of 8.5 years and an all-in funding cost of 3.46%;

• Proceeds will be used to refinance bilateral credit facilities secured in 2015;

• U.K.-based global engineering group.

July 7

TERRENO REALTY CORP.:

• $50 million of 10-year 3.99% senior notes;

• KeyBank Capital Markets Inc. and MUFG acted as joint lead placement agents;

• San Francisco-based company that acquires, owns and operates real estate.

July 12

OAKTREE CAPITAL GROUP, LLC:

• $100 million of 3.69% senior notes due 2031;

• To be issued by indirect subsidiary Oaktree Capital Management, LP;

• Proceeds will be used to pay down a portion of the company’s $250 million term loan due 2021;

• Los Angeles-based asset management firm.

July 14

JABIL CIRCUIT, INC.:

• $300 million of 4.9% senior secured notes due June 14, 2023;

• Proceeds to repay $312 million of 7Ύ% senior notes due July 15, 2016;

• St. Petersburg, Fla.-based electronic product solutions company.

July 20

LTC PROPERTIES, INC.:

• $40 million of 3.99% senior unsecured notes due 2031;

• Purchaser is an insurance company;

• Westlake Village, Calif.-based real estate investment trust focused on the purchase of long-term care and other health-care facilities.

August 11

EQUITY ONE, INC.:

• $100 million of 3.91% series B senior notes due 2026;

• Spread of 230 basis points above 10-year Treasury yield;

• Make-whole call at Treasuries plus 50 bps;

• Proceeds to pay down outstanding amounts on the company’s $600 million revolving credit facility, for redevelopment projects and for general corporate purposes;

• Miami Beach, Fla.-based owner, developer and operator of shopping centers.

August 15

DENTSPLY INTERNATIONAL INC.:

• CHF 58 million of 1.01% series I senior notes due Aug. 15, 2026;

• €40 million of 2.25% series J senior notes due Aug. 15, 2026;

• €66 million of 2.25% series K senior notes due Aug. 15, 2026;

• CHF 140 million of 1.17% series L senior notes due Aug. 15, 2028;

• CHF 65 million of 1.33% series M senior notes due Aug. 15, 2031;

• York, Pa.-based manufacturer and distributor of dental and other consumable medical device products.

August

DCT INDUSTRIAL TRUST:

• $80 million of 3.75% senior notes due 2024;

• $90 million of 3.92% senior notes due 2026;

• $80 million of 4.02% senior notes due 2028;

• Proceeds to repay borrowings under the company’s senior revolving line of credit, other senior notes and for general corporate purposes;

• Denver-based real estate investment trust.

September 30

UGI UTILITIES, INC.:

• $200 million of 4.12% senior notes, series B, due Sept. 30, 2046;

• Interest is payable semiannually on March 30 and Sept. 30;

• Priced on March 31;

• Proceeds will be used to refinance existing debt and for other general corporate purposes;

• King of Prussia, Pa.-based holding company that distributes, stores, transports and markets energy products and related services through its subsidiaries.

October 28

CASEY’S GENERAL STORES, INC.:

• $50 million of 3.72% series D senior notes due Oct. 28, 2031;

• Make-whole call at Treasuries plus 50 bps;

• Mandatory prepayments of principal of $5 million on Oct. 28, 2025 and $8 million on each of Oct. 28, 2026, Oct. 28, 2027, Oct. 27, 2028, Oct. 29, 2029 and Oct. 28, 2030;

• Proceeds for store constructions, remodels and acquisitions and for other working capital purposes;

• Purchasers include Prudential Arizona Reinsurance Term Co., Zurich American Life Insurance Co., Pensionskasse des Bundes Publica, New York Life Insurance Co., New York Life Insurance and Annuity Corp., New York Life Insurance and Annuity Corp. Institutionally Owned Life Insurance Separate Account (BOLI 3-2), New York Life Insurance and Annuity Corp. Institutionally Owned Life insurance Separate Account (BOLI 3), Voya Retirement Insurance and Annuity Co., ReliaStar Life Insurance Co., Voya Insurance and Annuity Co., Security Life of Denver Insurance Co., ReliaStar Life Insurance Co. of New York, Union Fidelity Life Insurance Co., Metropolitan Life Insurance Co., MetLife Insurance K.K., General American Life Insurance Co., and MetLife Insurance Co. USA;

• Ankeny, Iowa-based convenience store operator.

October 31

UGI UTILITIES, INC.:

• $100 million of 4.12% senior notes, series C, due Oct. 31, 2046;

• Interest is payable semiannually on April 30 and Oct. 31;

• Priced on March 31;

• Proceeds will be used to refinance existing debt and for other general corporate purposes;

• King of Prussia, Pa.-based holding company that distributes, stores, transports and markets energy products and related services through its subsidiaries.

December 7

T-MOBILE USA, INC.:

• $2 billion of 5.3% senior notes due March 15, 2021;

• Purchaser is major stockholder Deutsche Telekom AG;

• Priced on March 6;

• Proceeds will be used first for acquisitions of low-bank spectrum, second for debt refinancing and lastly for general corporate purposes;

• A direct, wholly owned subsidiary of T-Mobile US, Inc., a Bellevue, Wash.-based wireless telecommunications company.

April 28, 2017

CHESAPEAKE UTILITIES CORP.:

• $70 million of 3.25% shelf notes due April 30, 2032;

• Principal payments of $1.75 million are required beginning on July 31, 2022;

• Interest is payable quarterly beginning on July 31, 2017;

• Proceeds will be used to reduce short-term borrowings under the company’s revolving credit facility, lines of credit and/or to fund capital expenditures;

• Dover, Del.-based natural gas supplier.

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