Private Placement Calendar

Upcoming Closings

November 15

QUESTAR GAS CO.:

• $100 million of 3.38% senior notes due April 1, 2030, $50 million of 3.3% senior notes due Nov. 15, 2032 and $100 million of 3.97% senior notes due Nov. 15, 2047;

• Settling in two tranches, with part of the placement settling on Nov. 15 and the remainder of the sale settling on April 2, 2018;

• Questar Gas is a natural gas distributor based in Salt Lake City.

November 15

CONSUMERS ENERGY CO.:

• $60 million of 3.18% bonds due 2032, $210 million of 3.52% bonds due 2037 and $30 million of 3.86% bonds due 2052;

• Barclays, Deutsche Bank Securities Inc., Comerica Securities, Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Williams Capital Group LP are the agents;

• Consumers Energy is an electric and gas utility based in Jackson, Miss.

November 21

PORTLAND GENERAL ELECTRIC CO.:

• $225 million of 3.98% first mortgage bonds, with $75 million due 2048 issued at pricing on Aug. 2 and $150 million due 2047 settling Nov. 21;

• Portland General Electric is a Portland, Ore.-based energy provider.

November 28

ALEXANDER & BALDWIN, INC.:

• $50 million nine-year 4.04% shelf notes sold through a rate lock commitment under a second amended and restated note purchase and private shelf agreement with Prudential Capital Group;

• Proceeds will be used to pay down the company’s revolving line of credit and for general corporate purposes;

• Alexander & Baldwin's business includes transportation, real estate and agribusiness industries primarily in Hawaii. The company is based in Honolulu.

November 29

VECTREN UTILITY HOLDINGS, INC.:

• $100 million of 3.93% guaranteed senior notes, series B, due Nov. 29, 2047;

• Guaranteed by subsidiaries Indiana Gas Co., Inc., Southern Indiana Gas and Electric Co. and Vectren Energy Delivery of Ohio, Inc.;

• Make-whole call at Treasuries plus 50 bps until 90 days prior to maturity, then callable at par;

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

• Parent company Vectren Corp. is an Evansville, Ind.-based energy holding company.

Fourth Quarter of 2017

UNITIL CORP. subsidiaries:

• Northern Utilities, Inc. will issue $20 million of 3.52% notes due 2027 and $30 million of 4.32% notes due 2047;

• Fitchburg Gas and Electric Light Co. will issue $10 million of 3.52% notes due 2027 and $15 million of 4.32% notes due 2047;

• Granite State Gas Transmission, Inc. will issue $15 million of 3.72% notes due 2027;

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

• Unitil is a gas and electric utility based in Hampton, N.H.

January 16

SOUTH JERSEY INDUSTRIES, INC.:

• $100 million of notes, comprised of $25 million of series 2017A-1 3.22% notes due Aug. 16, 2024, settled Aug. 16; $25 million of series 2017B-1 3.46% notes due Aug. 16, 2027, settled Aug. 16; $25 million of 3.32% series 2017A-2 senior notes due Jan. 16, 2025, settling Jan. 16, 2018; and $25 million of 3.56% series 2017B-2 senior notes due Jan. 16, 2028 settling Jan. 16, 2018;

• Make-whole call at Treasuries plus 50 bps until 90 days prior to maturity, then callable at par;

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

• Hammonton, N.J.-based South Jersey Industries is a publicly held energy services holding company for a natural gas utility and other non-regulated companies.

March 31

MYOVANT SCIENCES LTD.:

• $40 million of term loans due May 1, 2021 with investors arranged through agent Hercules Capital, Inc., with $25 million settled on Oct. 16, 2017 and the remaining $15 million settling on March 31;

• The term loans bear interest at a variable rate equal to the greater of the Prime rate plus 400 bps and 8.25%;

• Prepayments of the loans will have a prepayment charge equal to 3% if the prepayment occurs within the first year, 2% if the prepayment occurs after one year but before two years and 1% if the prepayment occurs after two years;

• Hercules also will receive seven-year warrants for a number of shares equal to 3% of the loan’s principal divided by the exercise price, which will be based on the lowest three-day volume-weighted average price for the three trading days preceding settlement.

• The clinical-stage biopharmaceutical company is based in London.

April 2

QUESTAR GAS CO.:

• $100 million of 3.38% senior notes due April 1, 2030, $50 million of 3.3% senior notes due Nov. 15, 2032 and $100 million of 3.97% senior notes due Nov. 15, 2047;

• Settling in two tranches, with part of the placement settling on Nov. 15 and the remainder of the sale settling on April 2, 2018;

• Questar Gas is a natural gas distributor based in Salt Lake City.

By June 30, 2018

STRONGBRIDGE BIOPHARMA PLC:

• $50 million six-year 12.5% senior credit facility;

• The company borrowed $40 million on July 17, 2017 and will have access to an additional $10 million by June 30, 2018 upon achievement of certain milestones;

• Credit facility may be prepaid;

• Deal includes seven-year warrants issued to the investor for 394,289 ordinary shares, each exercisable at $7.37;

• CRG LP is the investor;

• Concurrent with the first tranche, CRG also purchased $3 million of ordinary shares at $6.98 per share;

• Proceeds will be used to retire existing debt facility and for general corporate purposes and working capital;

• Strongbridge is a Trevose, Pa., biopharmaceutical company.

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