Eastern Energy: Co-managed $1.2 Billion Notes Offering
Deal News | Jan 13, 2025 | Loop Capital Markets LLC
On January 13, 2025, Loop Capital Markets served as a co-manager in a major financial transaction involving Eastern Energy Gas Holdings, LLC. They co-managed a senior unsecured notes offering totaling $1.2 billion, a critical funding initiative broken into two tranches with 10- and 30-year maturities. The securities were given favorable credit ratings of Baa1 by Moody's and A- by Standard & Poor's, underscoring the financial health and market confidence in Eastern Energy Gas Holdings. The primary objective of this financing effort is to enhance the company's capital structure for general corporate purposes and a broader recapitalization strategy.
Sectors
- Finance
- Energy
Geography
- United States – The companies involved, Loop Capital Markets and Eastern Energy Gas Holdings, are U.S. based entities, indicating the geographical focus of this financial activity.
Industry
- Finance – Loop Capital Markets' involvement in managing a significant bond offering places it within the financial services industry, focusing on investment banking.
- Energy – Eastern Energy Gas Holdings' business focus suggests involvement in the energy sector, particularly with gas holdings and distribution.
Financials
- $1.2 billion – The total amount raised in the senior unsecured notes offering.
- Baa1/A- – The credit ratings assigned to the notes, indicating investment grade quality.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Loop Capital Markets LLC | Co-Manager | Company | An investment banking company that served as the co-manager for the bond offering. |
| Eastern Energy Gas Holdings, LLC | Issuer | Company | A gas holding company that issued the $1.2 billion in senior unsecured notes. |