Equity Origination

BB&T Capital Markets bankers are interested in your long-term success—not just the transaction.

Our Equity Origination team provides the expertise and market intelligence to assist with structuring and optimal distribution of all equity and equity-linked securities, including IPOs, fully marketed and overnight follow-on offerings, at-the-market offerings (ATMs), convertible debt and preferred stock, and private investments in public entities (PIPEs). We collaborate with our industry investment bankers, Institutional Sales & Trading team and BB&T Scott & Stringfellow Private Client Group to help you articulate your story to investors and price your equity transaction fairly and effectively. Our goal is to demystify the entire deal-cycle process for you and your board, create the highest possible level of demand among long-term investors, and to position your company in the market for long-term ownership with investors who will grow with you.

Our effectiveness has made us the go-to firm for a broad array of middle market and larger companies. In one sector alone—the Automotive Aftermarket—BB&T Capital Markets has managed every public equity offering from 2009 through the end of 2012.

Our corporate services desk provides a full array of services to our corporate clients including 144 sales, stock buybacks and various equity strategies tailored to the specific needs of holders of closely held stocks.

 

We have helped our middle market clients bring more than $34 billion in public stock offerings to market since 2003

  • Noble Energy Inc. (NYSE: NBL)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration & production company in the first quarter of 2015, in an equity offering worth $997,500,000. The Company intends to use the net proceeds from the offering to repay all borrowings under its credit facility and for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 3,150,000 shares at the public offering price to cover over-allotments, if any.

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  • Health Care REIT, Inc. (NYSE: HCN)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2015, helping to raise $1,476,025,000 for our client. The Company intends to use net proceeds from this offering to repay advances under its primary unsecured credit facility and for general corporate purposes, including investing in health care and senior housing properties. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 2,550,000 shares.

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  • Macquarie Infrastructure Company LLC (NYSE: MIC)

    BB&T Capital Markets’ Energy Group completed a transaction for an energy infrastructure holding company in the first quarter of 2015, in an equity offering worth $425,000,000. The Company intends to use the net proceeds from the offering to finance the cash consideration for the acquisition of Bayonne Energy Center from ArcLight Capital Partners, and for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 796,900 shares at the public offering price to cover over-allotments, if any.

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  • Omega Healthcare Investors, Inc. (NYSE: OHI)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2015, helping to raise $399,000,000 for our client. The Company intends to use the net proceeds from this offering to redeem outstanding senior notes due 2020, repay outstanding borrowings under its revolving credit facility and for general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 1,425,000 shares at the public offering price to cover over-allotments, if any.

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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 first quarter of 2015, helping to raise $75,000,000 in gross proceeds for our client. The Company has applied the fixed-rate, senior notes (“Notes”) for listing on the NYSE to trade under the symbol “TCCB.” 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. The Company has granted the underwriters an option to purchase up to an additional 450,000 notes to cover over-allotments, if any.

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  • Senior Housing Properties Trust (NYSE: SNH)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2015, helping to raise $559,400,000 for our client. The Company intends to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes, including funding future acquisitions. The Company has granted the underwriters a 30-day option to purchase an additional 4,050,000 shares at the public offering price to cover over-allotments, if any.

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  • Southwestern Energy Company (NYSE: SWN)

    BB&T Capital Markets Energy Group completed a transaction for an oil & gas exploration and production company, in the first quarter of 2015, in a mandatory convertible preferred stock offering worth $1,500,000,000. The Company intends to use the net proceeds from the offering in conjunction with proceeds from a common equity offering, to repay amounts outstanding under the Company’s $4.5 billion bridge loan. This credit facility was established to fund the acquisition of Marcellus and Utica Shale assets from Chesapeake Energy Corp, a transaction that closed in December 2014. In connection with the offering, The Company expects to grant the underwriters a 30-day option to purchase up to 225,000 additional preferred shares.

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  • Southwestern Energy Company (NYSE: SWN)

    BB&T Capital Markets Energy Group completed a transaction for an oil & gas exploration and production company, in the first quarter of 2015, in a common equity offering worth $600,000,011. The Company intends to use the net proceeds from the offering in conjunction with proceeds from a concurrent mandatory convertible preferred shares offering, to repay amounts outstanding under the Company’s $4.5 billion bridge loan. This credit facility was established to fund the acquisition of Marcellus and Utica Shale assets from Chesapeake Energy Corp, a transaction that closed in December 2014. In connection with the offering, The Company expects to grant the underwriters a 30-day option to purchase up to 3,913,043 additional common shares.

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  • Bluerock Residential Growth REIT, Inc. (NYSE: BRG)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2015, helping to raise $50,000,000 for our client. The Company intends to use net proceeds from this offering to fund future acquisitions, fund the Company’s remaining commitment to its Alexan Blaire House Property, and for general corporate and working capital purposes. The Company has granted the underwriters a 30-day option to purchase an additional 600,000 shares at the public offering price to cover over-allotments, if any.

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  • Oxford Lane Capital Corporation (NASDAQ GS: OXLC)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a registered closed-end management investment company in the fourth quarter of 2014, helping to raise $25,000,000 in gross proceeds for our client. The preferred shares trade on the NASDAQ GS under the symbol “OXLCN.” The Company intends to use the net proceeds from this offering to acquire investments in accordance with its investment objective and strategies and for general working capital purposes. The Company has granted the underwriters a 30-day option to purchase an additional 150,000 shares at the public offering price to cover over-allotments, if any.

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  • Continental Building Products, Inc. (NYSE: CBPX)

    BB&T Capital Markets’ Commercial and Industrial Group completed a transaction for a gypsum wall board manufacturer and distributor in the fourth quarter of 2014, helping to raise $118,738,000 for our client. This transaction represents a partial liquidation of the interests of the company’s private equity sponsors, Lone Star Funds. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,050,000 shares.

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  • Covenant Transportation Group, Inc. (NASDAQ GS: CVTI)

    BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a leading U.S. transportation provider in the fourth quarter of 2014, helping to raise over $65 million for our client. The Company intends to use the net proceeds from this offering for repayment of indebtedness under its equipment installment notes and capital lease obligations, as well as general corporate purposes. Total gross proceeds include the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 396,000 shares.

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  • Axalta Coating Systems, Ltd. (NYSE: AXTA)

    BB&T Capital Markets’ Automotive Aftermarket Group served as a co-manager in Axalta Coating Systems’ $975 million initial public offering. Axalta is a portfolio company of The Carlyle Group.

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  • THL Credit, Inc. (NASDAQ GS: TCRD)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the fourth quarter of 2014, helping to raise $45,000,000 in gross proceeds for our client. The Company has applied the fixed-rate, senior notes (“Notes”) for listing on the NASDAQ GS to trade under the symbol “TCRX.” The Company intends to use the net proceeds from this offering for general corporate purposes, which include investing in debt and equity securities, repayment of any outstanding indebtedness, acquisitions and other general corporate purposes. The Company has granted the underwriters an option to purchase up to an additional 270,000 Notes to cover over-allotments, if any.

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  • National Retail Properties, Inc. (NYSE: NNN)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2014, helping to raise $208,449,000 for our client. The Company intends to use net proceeds from this offering to repay outstanding indebtedness under the Company’s credit facility. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 712,500 shares.

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  • Western Gas Partners, LP (NYSE: WES)

    BB&T Capital Markets Energy Group completed a transaction for a gas gathering and processing MLP, in the fourth quarter of 2014, in an equity offering worth $531,375,000. The Partnership intends to use the net proceeds from the offering to fund a portion of the cash purchase price of the acquisition of Nuevo Midstream, LLC. In connection with the offering, The Partnership expects to grant the underwriters a 30-day option to purchase up to 1,125,000 additional common units.

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D. Reid BurfordHead of Corporate Equity ServicesEquity Capital Markets804-782-8700email Download My vCardView Bio
Michael EssexManaging Director Equity Capital Markets Origination804-780-3229email Download My vCardView Bio
Eric WatsonSyndicate ManagerEquity Capital Markets804-780-3228email Download My vCardView Bio