Investment Banking

Year-to-date, in 2023 Blaylock Van participated in 25 transactions totaling $78 billion in notional volume. We are proud to have served as Co-Manager on three of the four largest debt deals year-to-date; Amgen’s $24bn 8-part and Intel’s $11bn 7-part transactions, in February, and most recently, HSBC Holdings PLC’s $7bn 3-part transaction in March, which was the largest FIG deal of the year.

Notably, the Amgen Inc. transaction was also the 9th largest print on record and the 6th largest peak order book on record. In addition, we are proud to be the only D&I firm included on the $2.5bn Bank of Montreal transaction in January, and the only minority-owned Joint Lead Manager on San Diego Gas & Electric Company’s $800mn offering in March 2023.

In 2022, Blaylock Van reported 23% growth in notional deal volume year-over-year, with 67 debt capital markets new issues representing close to $186 billion notional. From 2018 to 2022, Blaylock Van’s closed transactions increased by a CAGR of 23% in terms of number of deals, and by 50% in deal notional value.

Notable debt capital market deals included serving as co-manager on Magallanes’ $30 billion transaction, a mega-transaction that opened the new issuance market in Q1’22. This was the fifth largest corporate bond in industry history and the largest deal in 2022. Blaylock Van also served as co-manager on PG&E Wildlife Recovery Funding LLE Series 2022-B $3.9 billion Rate Reduction Bond Securitization. Within the utilities space, securitization is likely to gain in popularity as costs to address natural disasters rise. Also, as initiatives to transition to new sustainable energy sources progress, there is an effort to securitize fossil fuel plant retirement costs.

We truly appreciate the partnership with our clients and their continued support of diversity and inclusion in their capital markets activities.