Financial Services Group

The BB&T Capital Markets Financial Services Group provides community banks & thrifts, business development companies and other specialty finance companies with a full range of capabilities and services, including public and private equity and debt origination and issuance, buy- and sell-side merger & acquisition advisory, fairness opinions, valuations and other advisory services.

While much of our business is focused on middle-market clients, our extensive service platform regularly participates in transactions with some of the nation’s largest financial institutions.

 

Our Financial Services team raised more than $1.5 billion for business development groups and advised five banks on M&A transactions in a recent 12-month span

  • Tidewater Finance Company

    On June 13, 2014, BB&T Capital Markets closed a $150 million subprime auto loan securitization for Tidewater Finance Company (“Tidewater”). The transaction provides Tidewater with fixed-rate, term financing for its loan portfolio at a very attractive pricing level. The proceeds of the transaction will be used to pay down Tidewater’s credit line and will create additional capacity for Tidewater’s future originations. This transaction was very well received by the market and was oversubscribed due to large investor demand. This transaction represents the third securitization in which BB&T Capital Markets has served as the sole-lead bookrunner for Tidewater since 2010.

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  • Triangle Capital Corporation (NYSE: TCAP)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the third quarter of 2014, helping to raise $132,773,250 in gross proceeds for our client. The Company intends to use the net proceeds from this offering to make investments within its objectives and strategies and for general working capital purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 645,000 shares.

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  • UBS AG

    On August 11, 2014, BB&T Capital Markets served as a co-manager for a $4.5 billion offering of notes by UBS AG (Stamford Branch). The offering consisted of four tranches, including a $2.5 billion offering of 2.375% Notes due 2019; a $1.25 billion offering of 1.375% Notes due 2017; a $500 million offering of floating rate notes due 2019 and a $250 million offering of floating rate notes due 2017.

  • Branch Banking & Trust Company

    On August 7, 2014, BB&T Capital Markets served as a lead manager for a $750 million offering of three-year bank notes by Branch Banking & Trust Company. The notes, Series I in BB&T’s bank notes program, bear a coupon of 1.35%. This is the second bank notes offering by BB&T in 2014, after a $1.3 billion offering in February of this year

  • Citigroup

    On August 7, 2014, BB&T Capital Markets served as a junior co-manager for a $1.5 billion offering of senior notes by Citigroup. The offering consisted of two tranches, $1.25 billion of 1.55% Senior Unsecured Notes due 2017 and $250 million of floating rate notes due 2017.

  • WellPoint, Inc.

    On August 7, 2014, BB&T Capital Markets served as a co-manager for a $2.7 billion, four-tranche offering of senior notes by WellPoint, Inc. The offering consisted of $850 million of 2.25% Notes due 2019; $800 million of 3.50% Notes due 2024; $800 million of 4.65% Notes due 2044; and $250 million of 4.85% Notes due 2054.

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  • Hercules Technology Growth Capital, Inc. (NYSE: HTGC)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the third quarter of 2014, helping to raise $100,000,000 in gross proceeds for our client. The Company intends to list the fixed-rate, senior notes (“Notes”) on the NYSE to trade under the symbol “HTGX.” The Company intends to use the net proceeds from this offering to fund investments in debt and equity securities in accordance with investment objectives and for general corporate purposes.

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  • Capitala Finance Corporation (NASDAQ GS: CPTA) (Notes Symbol: CLA)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the second quarter of 2014, helping to raise $113,437,500 in gross proceeds for our client. The fixed-rate, senior notes (“Notes”) have been approved for listing on the NYSE and will trade under the symbol “CLA.” The Company intends to use the net proceeds from this offering to make investments within its objectives and strategies and for general working capital purposes. Total gross proceeds includes the partial exercise of the underwriters’ over-allotment option, through which they purchased an additional 537,500 Notes.

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Our Areas of Expertise

Business Development Companies (BDCs)

Our group includes investment bankers involved with the industry since inception, knowledgeable retail and institutional brokers, bank lending, and industry-leading research coverage

Community Banks & Thrifts

We provide regulated financial institutions with a full suite of products and services, including equity and debt capital raising and merger and acquisition advisory, complemented by industry-leading community bank equity research and sales & trading.

Specialty Finance

Our commitment to specialty sectors includes, but is not limited to, insurance brokers, underwriters and service providers; specialty lenders; mortgage companies and financial management firms.