Mischler Financial Group’s Primary DCM Team scored a Trifecta during the first week of August with (3) Active Co-Manager underwriting roles on behalf of issuers Intel Corp,, HSBC Holdings plc and Barclays plc. In aggregate, these issuers raised $12.75bil.
Aug 2nd’s $6b 5-part Senior Notes offering from Intel Corp. was the largest offering of the day, and notably included a hand-selected group of diversity-certified broker-dealers alongside Mischler (coordinated by BofA’s fixed income syndicate team) to serve in an active role.
The net proceeds from the offering of the 10-year Green Notes tranche are intended to finance or refinance, in whole or in part, one or more eligible projects. The refinancing of outstanding debt is expected to include the redemption of the $400 million aggregate outstanding principal amount of the 4.10% Altera Senior Notes due November 2023 and the payment of related fees and expenses. Eligible projects: green buildings, energy efficiency, circular economy and waste management, pollution prevention & control, water stewardship, and renewable energy.
On August 4, Team Mischler served as an Active Co-Managers on HSBC Holdings plc’s $4.75b two-part 6nc5 and 11nc10 fixed-to-floating SEC-registered Senior Notes offering.
HSBC held its inaugural D&I Broker-Dealer Luncheon at its US Headquarters in Manhattan. The Luncheon included remarks and comments from HSBC leaders in Global Banking, Equity Capital Markets, Debt Capital Markets, IG Syndicate, Leveraged Finance, Treasury, and ESG Solutions among others. Presentations were followed by Panels and a Networking Session. Fresh on the heels of that wonderful event, HSBC Holdings plc announced and priced a tremendously successful $4.75b two-part 6nc5 and 11nc10 fixed-to-floating SEC-registered Senior Notes offering. The transaction included 11 diverse broker-dealers highlighting HSBC’s embrace of this mandate based upon a value-added proposition.
Finishing up the week, on August 5, Team Mischler was designated by Barclays plc to serve as Active Co-Lead Manager for the bank’s $2b (Ba2/B+/BBB-) SEC registered Fixed Rate Resetting PerpNC7 Junior Subordinated AT1 Notes transaction.
