KeyBanc Capital Markets has helped companies place debt through private syndication for multiple needs ranging from capital expenditures to M&A. Recent successes include:
- KeyBanc Capital Markets acted as Joint Lead Placement Agent for DTE Gas Company, a subsidiary of DTE Energy Company. DTE Gas is a natural gas utility that engages in the purchase, storage, transmission, gathering, distribution, and sale of natural gas in Michigan. The company issued $50 million of 3.640% First Mortgage Bonds due 2023, $70 million of 3.740% First Mortgage Bonds due 2025, and $50 million of 3.940% First Mortgage Bonds due 2028 with spreads of T+100 bps, T+110 bps and T+130 bps, respectively. This represents the second transaction in the last 12 months on which KeyBanc Capital Markets acted as Lead Placement Agent for DTE Gas (formerly known as Michigan Consolidated Gas Company). KeyBanc Capital Markets placed $145 million (85%) of the $170 million transaction, placing bonds with 5 of the 6 investors.
- In November 2013, KeyBanc Capital Markets acted as Sole Placement Agent for Green Mountain Power Corp and Vermont Gas Systems, Inc., both owned by Gaz Métro Inc. Green Mountain Power issued $12 million of 4.07% First Mortgage Bonds due 2029, $20 million of 4.39% First Mortgage Bonds due 2034 and $43 million of 4.89% First Mortgage Bonds due 2043. The notes priced at a spread of T+105 bps, T+110 bps and T+105 bps, respectively. Vermont Gas Systems issued $35 million of Senior Notes maturing on January 30, 2044. The notes priced at a spread of T+130 bps.