Private Placement Calendar

Upcoming Closings

February

DEXUS PROPERTY GROUP: $200 million (A$225 million) notes; maturities of 10, 11 and 13 years, with an average duration of 12 years; average U.S. margin of 170 basis points; proceeds to fund ongoing financing requirements including fund-through developments at 480 Queen Street in Brisbane and Kings Square in Perth; Sydney, Australia-based industrial property owner and manager.

March 13

NEW JERSEY NATURAL GAS CO.: $125 million of senior notes issued as $70 million of 3.58% series A notes due March 13, 2024 and $55 million of 4.61% series B notes due March 13, 2044; proceeds for general corporate purposes, including to refinance or retire debt and to fund capital expenditure requirements; notes will be secured until the release date by an equal amount of first mortgage bonds; prepayable at any time at a make-whole prepayment price; Wall, N.J.-based subsidiary of New Jersey Resources Corp., which provides natural gas services and renewable energy to the New England area.

March 26

UGI UTILITIES, INC.: $175 million of 4.98% senior notes due March 26, 2044; proceeds to refinance existing debt and for other general corporate purposes; the notes have a make-whole call at Treasuries plus 50 basis points; UGI is a subsidiary of King of Prussia, Pa.-based holding company UGI Corp.

April 8

KEYERA CORP.: C$75 million of 5.34% notes due April 8, 2029; proceeds to pay down existing credit facilities and to fund ongoing capital expenditure program; Calgary, Alta., natural gas midstream operator.

May 15

CHESAPEAKE UTILITIES CORP.: $50 million of 3.88% senior notes, series B, due May 15, 2029; $5 million annual principal payments due beginning May 15, 2020; prepayable in whole or in part at any time upon payment of a prepayment premium; proceeds to reduce short-term borrowings under the company's lines of credit and to fund capital expenditures; a Dover, Del.-based diversified utility company.

June 30

PRIMARY HEALTH PROPERTIES LLC subsidiary PHP Bond Finance plc: £10,000,200 portion of £70 million placement of floating-rate secured bonds due 2025; interest rate is Libor plus 220 bps; via arranger Debt Capital Markets LLP; £59,999,800 portion of placement settled Nov. 4; proceeds to be used to maintain and develop property and/or to repay debt; London-based provider of primary health-care facilities.

June

HAMMERSON plc: two tranches of fixed-rate seven-, 10- and 12-year notes totaling $443 million with nine U.S. institutions; notes are denominated in dollars, British pounds sterling and euros, with the dollar portion being swapped to fixed euro; the weighted average coupon is 3.6%; the weighted average maturity is nine years; the equivalent nominal value is £277 million; BofA Merrill Lynch, JPMorgan and Barclays are the agents; proceeds will be used to partly refinance upcoming bond maturities including €480 million of 4.875% eurobonds due 2015; London-based real estate investment trust.

August 5

SAN JOSE WATER CO.: $50 million of 5.14% senior notes, series L, due 2044, purchasers John Hancock Life Insurance Co. (U.S.A.) and John Hancock Life Insurance Co. of New York; the notes have a make-whole call at Treasuries plus 50 basis points; a wholly owned subsidiary of SJW Corp., an investor-owned public utility based in San Jose, Calif.

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