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Published on 12/31/2012 in the Prospect News Investment Grade Daily.

Outlook 2013: Notable investment-grade corporate deals of 2012

KRAFT FOODS GROUP INC.

Issuer:Kraft Foods Group Inc.
Size/structure:$6 billion in four tranches of notes due 2015, 2017, 2022, 2042 (Baa2/BBB/BBB-) priced on May 30, 2012 via Rule 144A and Regulation S
Bookrunners:Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, RBS Securities Inc.
• Notable because it was a big liability management trade, funding a spinoff of Kraft's grocery business
ABBVIE INC.
Issuer:AbbVie Inc.
Size/structure:$14.7 billion of senior notes (Baa1/A/) in six tranches priced on Nov. 5 via Rule 144A and Regulation S
Bookrunners:Barclays, Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., Societe Generale
• Notable because of its size and being a large M&A trade with proceeds to complete separation from Abbott Laboratories
HEINEKEN NV
Issuer:Heineken NV
Size/structure:$3.25 billion of notes (Baa1/BBB+/) in tranches due 2015, 2017, 2023 and 2042 on Oct. 2 via Rule 144A and Regulation S
Bookrunners:Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
• Notable because Heineken only had one U.S. dollar bond outstanding and its previous trade - $750 million of 10-year notes on March 29, 2012 - wasn't very big
GENERAL ELECTRIC CO.
Issuer:General Electric Co.
Size/structure:$7 billion of notes (Aa3/AA+/) due 2015, 2022, 2042 on Oct. 1
Bookrunners:Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.(active), Goldman Sachs & Co., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC (passive)
• Notable because GE usually does most of its funding through GE Capital Corp. and because of its size
INTEL CORP.
Issuer:Intel Corp.
Size/structure:$6 billion of senior notes (A1/A+/) in four maturities on Dec. 4
Bookrunners:Bank of America Merrill Lynch, J.P. Morgan Securities LLC
• Notable because of the use of proceeds for common stock share repurchases
COSTCO WHOLESALE CORP.
Issuer:Costco Wholesale Corp.
Size/structure:$3.5 billion of senior notes (A1/A+/A+) in notes due 2015, 2017, 2019 priced on Nov. 28
Bookrunners:Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Guggenheim
• Notable because of the use of proceeds to pay a special $7 cash dividend on common stock

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