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Nationwide Presence
Our New York City office is the latest expansion in our coast-to-coast operations.
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Extensive Capabilities
BB&T Capital Markets strives to build long-term relationships, delivering tailored solutions to meet your goals.
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What Our Clients Say
“BB&T was definitely the right choice. We are thrilled with the exceptional service, advice and execution we received.”—Leslie Cedar, board chair of Longhorn Village sponsor Texas Exes, Austin, Texas
With the backing of one of the largest financial institutions in the United States, BB&T Capital Markets brings deep industry expertise and a full slate of client-focused services to middle market firms. We invite you to experience the difference we can bring to your business.
W. Rufus Yates
President and CEOBB&T Securities-
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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Arizona Public Service Company
On January 7, 2015, BB&T Capital Markets served as a co-manager for a $250 million offering of 2.20% Senior Notes due 2020 by Arizona Public Service Co. Proceeds from the transaction are being used to repay amounts outstanding under the issuer’s commercial paper program. This deal represents BB&T’s first bond business with APS.
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Ventas Realty
On January 7, 2015, BB&T Capital Markets served as a co-manager for a two-tranche offering of senior notes by Ventas Realty, L.P. The offering consisted of a $600 million offering of 3.50% notes due 2025 and a $300 million offering of 4.375% notes due 2045. Proceeds from the transaction are being used for general corporate purposes, including consideration for acquisitions.
Real Estate
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Halperns’ Steak and Seafood Company
On January 7, 2015, Halperns’ Steak and Seafood Company, an Atlanta-based leading specialty distributor of high-quality meats and seafood, was acquired by Gordon Food Service, the largest family-operated broadline foodservice distributor in North America. Terms of the transaction were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to Halperns’ Steak and Seafood Company. Regarding the deal, Howard Halpern, Chairman of Halperns’ Steak and Seafood Company, stated: “It is remarkable what we have accomplished at Halperns’ in less than 10 years, and a testament to the talent of each and every member of the Halperns’ team. We are thoroughly convinced that Gordon Food Service is the ideal fit for Halperns’, and are very excited to join the Gordon family to continue our growth story.” Jim Gordon, CEO of Gordon Food Service, added, “We are thrilled to welcome Halperns’ Steak and Seafood to Gordon Food Service. Halperns’ focus on consultative selling and its reputation as the premier center-of-plate specialty protein distributor aligns with Gordon Food Service’s commitment to delivering exceptional products and service to our customers. We look forward to working with Halperns’ employees, customers, and suppliers in continuing to grow this great business.”
Read MoreFood & Agribusiness
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MainStreet BankShares, Inc. (OTCBB: MREE)
On January 1, 2015, MainStreet BankShares, Inc. (OTCBB: MREE) (“MainStreet”), a bank holding company, was acquired by American National Bankshares Inc. (Nasdaq: AMNB) (“American National”) in a transaction valued at approximately $26.5 million. Shareholders of MainStreet common stock will receive 0.482 shares of American National common stock and $3.46 in cash for each share of MainStreet they own. As of the close of business on December 31, 2014, the per share acquisition price equaled approximately $15.42, or approximately 105% of MainStreet’s September 30, 2014 book value and approximately 25.7x MainStreet’s last twelve months EPS. BB&T Capital Markets served as the exclusive financial advisor to MainStreet.
Read MoreFinancial Services
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DTECH LABS, Inc.
San Diego, CA-based Cubic Corporation (NYSE:CUB) (“Cubic”), has acquired Sterling, Virginia-based DTECH LABS, Inc. (“DTECH” or “the Company”) for up to $114.5 million, including $15 million of contingent consideration and subject to the terms of the stock purchase agreement. The Company is a leading provider of tactical baseband networking communications equipment that is utilized globally by the United States Special Operations Command as well as customers within the United States Department of Defense and commercial customers. DTECH’s ruggedized communications portfolio includes tactical and strategic networking products for portable, man-packable, vehicular and airborne applications. According to Bradley Feldmann, president and chief executive officer of Cubic Corporation, DTECH is the first step in their near-term strategy to build a niche $100-200 million C4ISR business generating mid-teen EBITDA margins. BB&T Capital Markets | Windsor Group served as the exclusive financial advisor to DTECH LABS, Inc. in this transaction.
Read MoreAerospace, Defense & Government Services
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BB&T Corporation
On December 3, 2014, BB&T Capital Markets served as a lead manager for a $1.5 billion offering of senior notes due 2020 by BB&T Corporation. The offering consisted of a $1.3 billion tranche of 2.45% senior medium-term notes and a $200 million offering of floating rate medium-term notes. Proceeds from the offering may be used for acquisitions, share repurchases, repayment of maturing obligations, and refinancing of outstanding indebtedness and extending credit to, or funding investments in, BB&T’s subsidiaries.
Financial Services
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UnitedHealth Group Incorporated
On December 3, 2014, BB&T Capital Markets served as a co-manager for a $2 billion, three-tranche offering of notes by UnitedHealth Group. A $750 million tranche of 1.40% notes matures in 2017; a $500 million tranche of 2.30% notes matures in 2019; and a $750 million tranche of 2.875% notes matures in 2021. The transaction represents our seventh with this issuer over the past ten years. Proceeds from the transaction are being used for working capital requirements; the redemption or repurchase of outstanding securities; refinancing debt; financing acquisitions; and other general corporate purposes.
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Tenneco Inc.
On December 2, 2014, BB&T Capital Markets served as a co-manager for a $225 million offering of 5.375% senior notes due 2024 by Tenneco Inc. This high yield deal represents our first bond transaction with Tenneco. Proceeds from the transaction are being used for a tender offer of $225 million of Tenneco’s outstanding 7.75% senior notes and the redemption of any such notes not tendered.
Read MoreAutomotive Aftermarket
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Bruce Kelleher
Managing DirectorHead of Financial Sponsors GroupAmong Our Areas of Focus
