Investment Grade Calendar

Week of April 24

KAISER PERMANENTE:

• 3(a)4 tax-exempt series 2017 bonds due May 1, 2022, May 1, 2027 and May 1, 2047 (/AA-/A+)

• Green bond tranche

• Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC (actives)

• Barclays, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC. (passives)

• Managed care consortium based in Oakland, Calif.

On The Horizon

ALTAGAS LTD.:

• Company to price offerings of senior debt, preferred shares and hybrid securities, as well as asset sales.

• A $2 billion tranche of bridge facilities allocated to covering asset sales

• A $4.9 billion bridge financing facility arranged with JPMorgan Chase Bank, Toronto-Dominion Bank and Royal Bank of Canada

• Company to obtain permanent financing through C$400 million private placement of subscription receipts to Omers, Ontario’s pension plan for municipal employees, and C$2.1 billion brought subscription receipts offering launched on Jan. 25

• Proceeds to finance C$8.4 billion acquisition of energy infrastructure company WGL Holdings, Inc., a deal not contingent on financing

• Calgary, Alta.-based North American energy infrastructure company

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

BRITISH AMERICAN TOBACCO PLC:

• New bonds, new bank credit lines and cash resources to fund acquisition of Reynolds American Inc.

• A $25 billion acquisition facility has been arranged with a syndicate of banks and is comprised of $15 billion and $5 billion bridge loans with one- and two-year maturities, respectively, each with two six-month extensions available at British American Tobacco’s option

• British American Tobacco intends to refinance the bridge loans through capital market debt issuances

• Multinational tobacco company based in London

CARDINAL HEALTH, INC.:

• $4.5 billion new senior notes

• Proceeds to help finance $6.1 billion cash acquisition of Medtronic’s patient care, deep vein thrombosis and nutritional insufficiency businesses

• Company to issue notes prior to acquisition closing in first quarter of Cardinal Health’s fiscal year 2018

• Dublin, Ohio-based pharmaceuticals and medical products provider

SUNCORP-METWAY LTD.:

• Dollar-denominated notes

• Roadshow in U.S. and Asia markets

• Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and UBS Securities LLC (roadshow arrangers)

• Brisbane, Australia-based banking and financial services company

TWENTY-FIRST CENTURY FOX, INC.:

• Plans about $10 billion of new debt to fund cash offer to acquire Sky plc

• Company with subsidiary 21st Century Fox America, Inc. negotiated bridge credit agreement to borrow up to £12.2 billion, which will be replaced with the longer-dated permanent financing of $10 billion before acquisition closes

• Credit agreement arranged with joint lead arrangers and bookrunners Goldman Sachs & Co., Deutsche Bank Securities Inc. and JPMorgan Chase Bank, NA

• Closing expected by end of 2017

• New York-based company operates cable and broadcasting networks and properties

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