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Private Placement Calendar
Upcoming Closings
November 19
TATE & LYLE PLC:
$100 million of 3.31% notes due in 2029 and $100 million of 3.41% notes due in 2031
Proceeds to refinance debt, extending the companys debt maturity profile, and for general corporate purposes
Agribusiness based in London
December 2
TERRENO REALTY CORP.:
$100 million 3.14% 10-year senior notes
Proceeds to pay down existing loans and for other corporate purposes
San Francisco-based company acquires, owns and operates industrial real estate
December 6
ROANOKE GAS CO.:
$10 million of 3.6% 10-year notes
Prudential Investment Management is the investor
Proceeds to finance a portion of Roanoke's capital budget
Utility subsidiary of RGC Resources, Inc., a Roanoke, Va., supplier of natural gas
December
DELMARVA POWER & LIGHT CO.:
$75 million of 4.14% first mortgage bonds due Dec. 12, 2049
The electric and natural gas utility is based in Wilmington, Del.
SSP GROUP PLC:
$66.5 million of 4.06% notes due in July 2026, $66.5 million of 4.25% notes due in December 2027, $66.5 million of 4.35% notes due in December 2029 and 58.5 million of 2.11% notes due in July 2031
Settling in July and December
Proceeds for debt repayment and general corporate purposes
The operator of food and beverage concessions is based in London
February 25, 2020
OTTER TAIL POWER CO.:
$10 million 3.22% senior notes due Feb. 25, 2030, $10 million 3.62% senior notes due Feb. 25, 2040 and $15 million 3.92% senior notes due Feb. 25, 2050, all part of seven-tranche offering of notes that totaled $175 million.
Proceeds will be used for general corporate purposes
Fergus Falls, Minn.-based electric utility company
March 2, 2020
DERMIRA INC.:
$50 million to settle by March 2, 2020 of $125 million 10.75% senior secured term loan facility due Dec. 3, 2023
$35 million settled on Dec. 3, 2018; $40 million to settle by July 1, 2019
$100 million of 4.31% first mortgage bonds due Nov. 1, 2048
Athyrium Opportunities III Acquisition LP is the investor
The skin condition drug developer is based in Menlo Park, Calif.
May 2020
NATIONAL EXPRESS GROUP PLC:
$509 million equivalent of senior secured notes in a five-tranche private placement, which will be conducted in dollars, British pounds and euros
Fixed-rate notes will have maturities ranging between seven and 12 years and a weighted average coupon of 1.92%
Notes will settle in two closings in May 2020 and June 2020
Proceeds will be used to repay the existing £225 million bond and 250 million floating-rate note maturing in mid-2020
Public transport group that operates bus and coach services in the United Kingdom, continental Europe/North Africa and North America and rail services in the United Kingdom, based in Birmingham, England
June 2020
NATIONAL EXPRESS GROUP PLC:
$509 million equivalent of senior secured notes in a five-tranche private placement which will be conducted in dollars, British pounds and euros
Fixed-rate notes will have maturities ranging between seven and 12 years and a weighted average coupon of 1.92%
Notes will settle in two closings in May 2020 and June 2020
Proceeds will be used to repay the existing £225 million bond and 250 million floating-rate note maturing in mid-2020
Public transport group that operates bus and coach services in the United Kingdom, continental Europe/North Africa and North America and rail services in the United Kingdom, based in Birmingham, England
August 20, 2020
OTTER TAIL POWER CO.:
$40 million 3.22% senior notes due Aug. 20, 2030, part of seven-tranche offering of notes that totaled $175 million.
Proceeds will be used for general corporate purposes
Fergus Falls, Minn.-based electric utility company
September 2021
BAZALGETTE TUNNEL LTD. (TIDEWAY):
£75 million of 2.418% notes due 2041
Proceeds used for general corporate purposes
London-based Bazalgette Tunnel is the company established to construct the Thames Tideway Tunnel in London
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