Investment Grade Calendar

Feb. 15 Week

FEDERAL HOME LOAN BANKS

• $3 billion of two-year global notes, $2 billion of five-year global notes

• Bookrunners include Barclays, Deutsche Bank Securities Inc., Wells Fargo Securities LLC, TD Securities (USA) LLC

• FHLBanks are 12 government-sponsored funding providers

On The Horizon

AETNA INC.:

• Senior notes to help finance acquisition of Humana Inc.

• Health care benefits company based in Hartford, Conn.

ALGONQUIN POWER & UTILITIES CORP.

• Long-term debt

• Proceeds will be used to acquire Empire District Electric Co. and subsidiaries in an all-cash transaction valued at $2.4 billion

• Closing is expected in the first quarter of 2017

• Financing could include U.S. and Canadian debt issuance

• Algonquin is an oil and gas explorer based in Calgary, Alta.

ANTHEM INC.:

• New debt to fund proposed acquisition of Cigna Corp.

• Fully committed financing from Bank of America, Credit Suisse, UBS Investment Bank

• Expects $22 billion of term loans and public debt

• Indianapolis-based health benefits company

EMERA INC.:

• Long-term debt

• Proceeds will be used to fund its acquisition of TECO Energy Inc.

• Tampa, Fla.-based TECO Energy is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico

• Halifax, N.S.-based Emera invests in electricity generation, transmission and distribution as well as gas transmission and utility energy services

FORTIS INC.

• $2 billion of debt in the U.S. market

• Proceeds will be used for its $11.3 billion acquisition of ITC Holdings Corp.

• Closing is expected to occur in late 2016

• Fortis is a St. John's, Newfoundland-based investor-owned gas and electric distributor

INTERNATIONAL BUSINESS MACHINES CORP.

• Senior notes

• Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC

• Proceeds will be used for general corporate purposes

• The information technology and computer company is based in Armonk, N.Y.

MITSUBISHI UFJ FINANCIAL GROUP INC.

• Senior notes in fixed- and floating-rate tranches

• Investor call Nov. 12, roadshow begins Feb. 15 week

• Morgan Stanley & Co. LLC, MUFG, J.P. Morgan Securities LLC

• Proceeds will be used to fund the operations of MUFG through loans

• Tokyo-based financial services company

NEWELL RUBBERMAID INC.

• $8.7 billion of debt securities

• To help fund the acquisition of Jarden Corp.

• Newell Rubbermaid is an Atlanta-based consumer and commercial products marker. Jared is a Boca Raton, Fla.-based consumer products company

TYCO INTERNATIONAL FINANCE SA:

• $4 billion bridge and term loan commitment letters

• 3.5-year senior unsecured term loan facility

• Initial interest under both term and bridge loans Libor plus 125 bps to Libor plus 175 bps

• Citigroup Global Markets Inc. (arranger)

• To fund Tyco International plc merger with Johnson Controls, Inc.

• Merger agreement allows either party to terminate transaction if merger not completed by Oct. 24

• Tyco International is a Cork, Ireland-based security systems company

WESTERN DIGITAL CORP.:

• $5.1 billion in investment-grade senior secured notes and high-yield senior unsecured notes, portions to be determined

• BofA Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and RBC Capital Markets LLC

• To help fund the acquisition of SanDisk Corp. and refinance existing debt at both companies

• Western Digital is an Irvine, Calif.-based digital storage solutions company; SanDisk is a Milpitas, Calif.-based provider of flash storage solutions

• Expected first quarter of 2016

OGLETHORPE POWER CORP.:

• $250 million of first mortgage bonds in early to mid-2016

• Electric supply cooperative based in Tucker, Ga.

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