Loop Capital Joint-Bookrunning Lead Manager on San Diego Gas & Electric's $250 million First Mortgage Bond Offering
November 14th, 2011
Loop Capital Markets served as Joint-Bookrunning Lead Manager, along with Bank of America Merrill Lynch, BNP and Morgan Stanley on a successful $250 million, 30-year First Mortgage Bond offering on November 14, 2011.
Despite considerable new issue supply over the preceding week and continuing market headwinds due to Euro Zone concerns, the SD G&E deal was extremely well-received by investors. A 6x oversubscribed order book allowed the bookrunners to limit the allocation of bonds to high quality investors, with a coupon which proved to be the all-time low rate for a 30-year corporate bond.
