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Private Placement Calendar
Upcoming Closings
March 1
F&C INVESTMENT TRUST PLC
£50 million of 2.06% senior notes due 2037, £45 million of 1.96% senior notes due 2056 and £45 million of 1.87% senior notes due 2061
Proceeds to refinance debt, for investments and for other general corporate purposes
London-based investment fund
March 15
CHESAPEAKE UTILITIES CORP.
$50 million of 2.95% senior notes due March 15, 2042
Metropolitan Life Insurance Co. and MetLife Investment Management, LLC and their affiliates (investors)
Proceeds to reduce short-term borrowings under the companys revolving credit facility and/or to fund capital expenditures
Dover, Del.-based energy company
March 31
BABYLON HOLDINGS LTD.
$100 million more of five-year notes sold at par; interest accumulates at 8% for the first two years, 10% for the third year and 12% in the fourth and fifth years; plus warrants for 878,750 shares
AlbaCore Partners II Investment Holdings D DAC, AlbaCore Partners III Investment Holdings DAC and AlbaCore Strategic Investments LP (investors)
Proceeds for general corporate purposes
London-based developer of health care software
April 18
SAFEHOLD OPERATING PARTNERSHIP LP
$475 million of 3.98% series 2022A senior notes due Jan. 15, 2052 at a spread of Treasuries plus 180 bps and guaranteed by Safehold Inc. in up to two closings
Proceeds to repay borrowings under an unsecured revolving credit facility and for general corporate purposes
New York-based real estate investment trust
April 20
EASTGROUP PROPERTIES, LP and EASTGROUP PROPERTIES, INC.
$150 million of 3% senior notes due April 20, 2032, guaranteed by some EastGroup subsidiaries
Ridgeland, Miss.-based real estate investment trust company
May 20
OTTER TAIL POWER CO.
$90 million of 3.77% series 2022A notes due May 20, 2052
J.P. Morgan Securities, LLC and Wells Fargo Securities, LLC (agents)
Proceeds to refinance debt and for general corporate purposes
Fergus Falls, Minn.-based electric utility company
August 16
ARTISAN PARTNERS HOLDINGS LP
$90 million of 3.1% series F senior notes due Aug. 16, 2032
BofA Securities, Inc. and Citigroup Global Markets, Inc. (agents)
Proceeds to refinance companys series C notes
Milwaukee-based independent investment management firm
September 29
EDINBURGH INVESTMENT TRUST PLC
£35 million 2.26% note due 2037, £35 million 2.49% note due 2047 and £30 million 2.53% note due 2057 as part of a £120 million private placement of senior unsecured notes to settle in four parts, with the single tranche of $20 million 2.53% note due in 2051 having settled on Oct. 7, 2021
Edinburgh, U.K.-based investment trust company
October 20
KIRBY CORP.
$60 million of 3.46% senior notes, series A, due Jan. 19, 2033, as part of a $300 million of fixed-rate senior notes in two parts, with the remaining $240 million settling Jan. 19, 2023
Proceeds used with operational cash to repay 3.29% senior notes due Feb. 27, 2023
Houston-based transporter of petrochemical products
December
MITIE GROUP PLC
£120 million of U.S. private placement notes with eight-, 10- and 12-year maturities at an average coupon of 2.94%
Pricoa Private Capital and NYL Investors LLC are the investors
London-based facilities management company
January 19, 2023
KIRBY CORP.
$240 million of 3.51% senior notes, series B, due Jan. 19, 2033, as part of a $300 million of fixed-rate senior notes in two parts, with the remaining $60 million having settled Oct. 20, 2022
Proceeds used with operational cash to repay 3.29% senior notes due Feb. 27, 2023
Houston-based transporter of petrochemical products
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