BB&T Capital Markets serves as a Co-Manager on Kaman Corporation’s Convertible Senior Notes Offering
BB&T Capital Markets’ Diversified Industries Group completed a transaction for Kaman Corporation, an industrial company in the second quarter of 2017, helping to raise $200,000,000 in gross proceeds for our client.
Kaman Corporation intends to use the net proceeds from this offering to unwind select pre-existing hedges, and repay indebtedness including the repurchase of a portion of its convertible notes maturing in 2017. Total gross proceeds includes the exercise of the underwriters’ 30-day option to purchase additional notes to cover over-allotments.
About the Companies
Kaman Corporation conducts business in the aerospace and industrial distribution markets. The company is a leading distributor of industrial parts, and operates approximately 240 customer service centers and five distribution centers across the U.S. and Puerto Rico.
Commercial & Industrial
The BB&T Capital Markets Commercial & Industrial Group provides clients with industry expertise and exceptional transaction execution. We offer M&A advisory, capital raising and corporate banking services for a variety of sectors, including building products & materials; commercial & consumer durables; industrial manufacturing and distribution; and outsourced commercial and industrial services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.