TD Securities

Consolidated Communications Announces Agreement to be Acquired by Searchlight Capital Partners and British Columbia Investment Management Corporation

Retrieved on: 
Monday, October 16, 2023

Under the terms of the Agreement, Searchlight and BCI will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash.

Key Points: 
  • Under the terms of the Agreement, Searchlight and BCI will acquire all of the Consolidated common stock not already owned by Searchlight for $4.70 per share in cash.
  • We also considered capital structure alternatives, analyzing the potential availability, cost and feasibility of injecting additional capital into the business.
  • Following this review, the Special Committee determined this transaction is the best path forward for Consolidated Communications and its shareholders.
  • Morgan Stanley & Co. LLC, Wells Fargo, Mizuho, RBC Capital Markets and TD Securities are also acting as financial advisors to Searchlight.

Berkshire Partners Announces Majority Growth Investment in TowerNorth

Retrieved on: 
Thursday, October 5, 2023

Berkshire Partners today announced it has made a majority growth investment in TowerNorth , a fast-growing independent developer, owner, and operator of critical wireless infrastructure assets in the United States and Europe.

Key Points: 
  • Berkshire Partners today announced it has made a majority growth investment in TowerNorth , a fast-growing independent developer, owner, and operator of critical wireless infrastructure assets in the United States and Europe.
  • “TowerNorth has seen tremendous growth since inception, and we continue to see significant opportunities ahead as the buildout of 5G and successor networks continues,” said Stern, Chief Executive Officer of TowerNorth.
  • TD Securities acted as the sole financial advisor and Husch Blackwell LLP acted as the legal advisor to TowerNorth.
  • Babst Calland and Kirkland & Ellis advised Berkshire Partners.

SLC Management announces new co-heads of Private Fixed Income business

Retrieved on: 
Thursday, October 5, 2023

and TORONTO, Oct. 5, 2023 /PRNewswire/ - SLC Management, the US$273B (C$361B) institutional fixed income and alternatives asset manager, is pleased to announce changes to the firm's Private Fixed Income (PFI) team.

Key Points: 
  • and TORONTO, Oct. 5, 2023 /PRNewswire/ - SLC Management, the US$273B (C$361B) institutional fixed income and alternatives asset manager, is pleased to announce changes to the firm's Private Fixed Income (PFI) team.
  • Sam Tillinghast, Head of Private Fixed Income, SLC Management, has announced his intention to retire, effective December 31, 2023.
  • Liz Thorne, Managing Director, Private Fixed Income and ESG, SLC Management will lead the Corporate Private Placements team and Petra Wendroth, Managing Director, Portfolio Manager, Private Fixed Income, SLC Management, will lead PFI Portfolio Management for clients in the U.S. and Canada.
  • Ms. Wendroth joined SLC Management in 2012, specializing in structuring and underwriting private fixed income investments, including senior middle-market corporate loans and infrastructure transactions as well as managing various private fixed income portfolios.

Essential Utilities Announces Sale of Allegheny County Microgrid and District Energy Projects to Cordia

Retrieved on: 
Tuesday, October 3, 2023

Essential Utilities, Inc. (NYSE: WTRG) today announced a binding agreement to sell its three non-utility microgrid and district energy properties in Allegheny County to Cordia , a sustainability-driven energy solutions provider.

Key Points: 
  • Essential Utilities, Inc. (NYSE: WTRG) today announced a binding agreement to sell its three non-utility microgrid and district energy properties in Allegheny County to Cordia , a sustainability-driven energy solutions provider.
  • The agreement covers innovative microgrids and district energy systems developed by Peoples , Essential’s gas operations subsidiary based in Pittsburgh, where the assets are located.
  • The Allegheny County District Energy system provides efficient and resilient steam and hot water services to six government buildings including the Allegheny County Courthouse and City-County Building, using seven state-of-the-art steam boilers and one domestic water heater.
  • "We are honored to have the opportunity to acquire the cutting-edge microgrid and district energy systems from Essential Utilities,” said Cordia CEO Earl Collins.

Sunrun Closes $715 million Senior Securitization of Residential Solar & Battery Systems and Raises $253 million of Additional Subordinated Financing

Retrieved on: 
Thursday, September 28, 2023

"We are pleased with Sunrun's record-setting transaction, placing the largest ever residential solar securitization for the industry and subsequently raising additional non-recourse financings, ” said Danny Abajian, Sunrun’s Chief Financial Officer.

Key Points: 
  • "We are pleased with Sunrun's record-setting transaction, placing the largest ever residential solar securitization for the industry and subsequently raising additional non-recourse financings, ” said Danny Abajian, Sunrun’s Chief Financial Officer.
  • The $440mm Class A-1 notes were marketed in a public asset backed securitization whereas the $275mm Class A-2 notes were privately placed.
  • The spread of 240bps represents an improvement of 25bps from Sunrun’s 2023-1 asset backed securitization in May 2023.
  • In connection with including these seasoned assets in the financing, Sunrun also repaid $255 million in total debt, including senior and subordinated term loans maturing in 2024 and 2029, respectively.

Bell announces closing of amendments to its securitization program to add sustainability-linked pricing

Retrieved on: 
Wednesday, September 27, 2023

MONTRÉAL, Sept. 27, 2023 /PRNewswire/ - Bell Canada (Bell) announced today that it has amended its existing Cdn $2.3 billion securitization program to add sustainability-linked pricing.

Key Points: 
  • MONTRÉAL, Sept. 27, 2023 /PRNewswire/ - Bell Canada (Bell) announced today that it has amended its existing Cdn $2.3 billion securitization program to add sustainability-linked pricing.
  • "We are pleased to announce the closing of amendments to our securitization program to add sustainability-linked pricing.
  • Bell selected these two targets as they collectively cover the vast majority of Bell's total carbon footprint.
  • Bell has also received an A- score in the 2022 CDP annual ranking, demonstrating our leadership in climate transparency and action.

Danny Salinas Joins Cantor Fitzgerald as Chief Financial Officer

Retrieved on: 
Monday, September 18, 2023

NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Cantor Fitzgerald, L.P., ("Cantor") a leading global financial services firm, today announced the appointment of Danny Salinas as Cantor's new Global Chief Financial Officer.

Key Points: 
  • NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Cantor Fitzgerald, L.P., ("Cantor") a leading global financial services firm, today announced the appointment of Danny Salinas as Cantor's new Global Chief Financial Officer.
  • Mr. Salinas will assume all internal and external financial responsibilities for Cantor's consolidated businesses.
  • Howard W. Lutnick, Chairman and Chief Executive Officer, commented on today's announcement, "We are excited about Danny joining Cantor's executive leadership team.
  • Prior to joining Cantor, Mr. Salinas held various executive positions for over a decade at TD Bank Group, including most recently as a Chief Financial Officer at TD Securities.

Sunrun Prices Record-Setting $715 million Senior Securitization of Residential Solar & Battery Systems

Retrieved on: 
Thursday, September 14, 2023

“The capital markets continue to recognize the high quality of Sunrun’s residential solar assets, and the company’s industry-leading performance as an originator and servicer.

Key Points: 
  • “The capital markets continue to recognize the high quality of Sunrun’s residential solar assets, and the company’s industry-leading performance as an originator and servicer.
  • This latest securitization sets new records, representing the largest securitization in Sunrun’s history and also the largest across the entire residential solar industry.
  • The $440mm Class A-1 notes were marketed in a public asset backed securitization whereas the $275mm Class A-2 notes were privately placed.
  • The spread of 240bps represents an improvement of 25bps from Sunrun’s 2023-1 asset backed securitization in May 2023.

Capital Power announces a C$350 million medium term note offering

Retrieved on: 
Tuesday, September 12, 2023

EDMONTON, Alberta, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital Power”) (TSX:CPX) announced today that it has priced a public offering in Canada of unsecured medium term notes in the aggregate principal amount of C$350 million (the “Offering”).

Key Points: 
  • EDMONTON, Alberta, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital Power”) (TSX:CPX) announced today that it has priced a public offering in Canada of unsecured medium term notes in the aggregate principal amount of C$350 million (the “Offering”).
  • The net proceeds of the Offering will be used to repay, redeem or refinance existing indebtedness, including indebtedness under Capital Power’s credit facilities, or for general corporate purposes.
  • The notes to be issued and sold under the Offering have been rated BBB- by S&P Global Ratings and BBB (low) by DBRS Limited.
  • Capital Power undertakes no obligation to update or revise any forward-looking information except as required by law.

Essential Properties Realty Trust, Inc. Announces Pricing of Upsized Public Offering of Common Stock

Retrieved on: 
Thursday, September 14, 2023

Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today the pricing of an underwritten public offering of 10,440,000 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $23.00 per share.

Key Points: 
  • Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today the pricing of an underwritten public offering of 10,440,000 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $23.00 per share.
  • The offering was upsized from the previously announced offering size of 8,700,000 shares of common stock, and the offering is expected to close on September 18, 2023, subject to customary closing conditions.
  • Wells Fargo Securities, BofA Securities, Citigroup, and Mizuho are acting as the joint book-running managers for the offering.
  • Stifel, Huntington Capital Markets, Raymond James, and Wolfe Capital Markets and Advisory are acting as co-managers of the offering.