Private Placement Calendar

Upcoming Closings

January

OWL ROCK CAPITAL CORP.:

• $150 million of 4.75% senior unsecured notes due June 21, 2023, with $138.5 million settled on Dec. 21 and the remaining $11.5 million settling in January;

• Proceeds were used to pay down debt under the company’s senior secured revolving credit agreement and its revolving credit agreement;

• The private business development company is based in New York.

February 7

OTTER TAIL POWER CO.:

• $100 million of 4.07% series 2018A senior unsecured notes due Feb. 7, 2048;

• Make-whole call until Aug. 7, 2047, then a par call;

• J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc. are the agents;

• Proceeds to refinance debt under the company’s revolving credit facilities;

• Otter Tail is a Fergus Falls, Minn.-based electric utility company.

March 22

EMPIRE STATE REALTY OP, LP:

• $160 million of 4.26% series E senior notes due 2030 and $175 million of 4.44% series F senior notes due 2033;

• Prudential Capital Group, AIG Asset Management, MetLife Investment Advisors, LLC and Teachers Insurance and Annuity Association of America are the investors;

• Proceeds used to repay some mortgage debt due 2018 and for other general corporate purposes;

• Based in New York, Empire is a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.

March 31

CORE GOLD INC.:

• $15 million 12% debt facility with Investa Bank SA, which is available for drawing until July 31, 2019;

• Proceeds used for expansion of the Portovelo Plant to increase capacity from 750 tons per day to 2,000 tons per day, to restructure an outstanding loan, for corporate development initiatives and for general working capital, including exploration;

• Core Gold is a gold mining company based in Vancouver, B.C.

MYOVANT SCIENCES LTD.:

• $40 million of term loans due May 1, 2021 with investors arranged through agent Hercules Capital, Inc., with $25 million settled on Oct. 16, 2017 and the remaining $15 million settling on March 31;

• The term loans bear interest at a variable rate equal to the greater of the Prime rate plus 400 bps and 8.25%;

• Prepayments of the loans will have a prepayment charge equal to 3% if the prepayment occurs within the first year, 2% if the prepayment occurs after one year but before two years and 1% if the prepayment occurs after two years;

• Hercules also will receive seven-year warrants for a number of shares equal to 3% of the loan’s principal divided by the exercise price, which will be based on the lowest three-day volume-weighted average price for the three trading days preceding settlement;

• The clinical-stage biopharmaceutical company is based in London.

April 2

QUESTAR GAS CO.:

• $100 million of 3.38% senior notes due April 1, 2030, $50 million of 3.3% senior notes due Nov. 15, 2032 and $100 million of 3.97% senior notes due Nov. 15, 2047;

• Settling in two tranches, with part of the placement settling on Nov. 15 and the remainder of the sale settling on April 2, 2018;

• Questar Gas is a natural gas distributor based in Salt Lake City.

TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.:

• $120 million series 2017A first mortgage obligations due Dec. 12, 2029;

• 3.34% coupon for $60 million tranche 1; settlement Dec. 18;

• 3.39% coupon for $60 million tranche 2; settlement April 12, 2018;

• Proceeds to repay portion of Tri-State’s outstanding commercial paper and for other general corporate purposes;

• Electric utility based in Westminster, Colo.

By June 30, 2018

STRONGBRIDGE BIOPHARMA PLC:

• $50 million six-year 12.5% senior credit facility;

• The company borrowed $40 million on July 17, 2017 and will have access to an additional $10 million by June 30, 2018 upon achievement of certain milestones;

• Credit facility may be prepaid;

• Deal includes seven-year warrants issued to the investor for 394,289 ordinary shares, each exercisable at $7.37;

• CRG LP is the investor;

• Concurrent with the first tranche, CRG also purchased $3 million of ordinary shares at $6.98 per share;

• Proceeds will be used to retire existing debt facility and for general corporate purposes and working capital;

• Strongbridge is a Trevose, Pa., biopharmaceutical company.

By Aug. 14, 2019

OPTINOSE INC., OPTINOSE US, INC. AND OPTINOSE AS:

• $100 million of floating-rate senior secured notes due June 29, 2023, with $50 million of the notes issued by OptiNose US, Inc. and $50 million of the notes issued by OptiNose AS; of the notes, $25 million was issued by OptiNose US, Inc. and $50 million was issued by OptiNose AS on Dec. 29 and the remaining $25 million to be issued by OptiNose US, Inc. between April 1, 2019 and Aug. 14, 2019;

• Notes bear interest at Libor plus 900 basis points with a Libor floor of 1%;

• Proceeds will be used to provide ongoing working capital for the company to support the launch and commercialization of Xhance (fluticasone propionate) nasal spray, 93 mcg, as well as for general corporate purposes;

• OptiNose is a specialty pharmaceutical company based in Yardley, Pa.

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