Energy Group

Our teams of energy specialists focus on distinct sectors of the field: oil and gas, coal and utilities.

With technical expertise backed by the lending power of BB&T Corp.—one of the nation's leading financial institutions—our clients can benefit from a full suite of corporate financial services, including large syndicated lending, revolvers, supply chain financing, equipment leasing and lending, corporate trust work and traditional banking.

That, combined with our in-house equity and debt origination, M&A advisory, and the insurance risk management power of McGriff, Seibels & Williams, has made us one of the primary participants in the nation’s natural resources and power financing field.

 

More than 200 years combined experience in the Energy sector

  • Just Energy Group Inc. (NYSE: JE, TSX: JE)

    BB&T Capital Markets’ Energy Group completed a transaction for an energy management solutions provider in the first quarter of 2017, helping to raise $100mm in gross proceeds for our client.

    Just Energy intends to use the net proceeds from the offering to support liquidity, and pre-fund debt maturities in 2018 and 2019. The Company has granted the underwriters a 30-day  option to purchase an additional 600,000 Preferred shares to cover over-allotments.

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  • WPX Energy Inc. (NYSE: WPX)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration and production company in the first quarter of 2017, helping to raise $670.41mm in gross proceeds for our client.

    WPX intends to use the net proceeds from the offering and cash on hand to finance the concurrently announced acquisition of certain assets of Panther Energy Company II, LLC and CP2 Operating LLC. If the acquisition is not consummated, the Company would use the net proceeds from this offering for working capital needs or general corporate purposes, which may include the repayment of indebtedness and other acquisitions. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 6,675,000 shares.

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  • Buckeye Partners, L.P. (NYSE: BLP)

    On October 27, 2016, BB&T Capital Markets served as a co-manager for a $600 million offering of 3.95% senior notes due 2026 by Buckeye Partners, L.P.

    Proceeds from the offering are being used to fund a portion of the purchase price for the VTTI Acquisition.

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  • Oasis Petroleum Inc. (NYSE: OAS)

    BB&T Capital Markets’ Energy Group completed a transaction for an exploration and production company in the fourth quarter of 2016, helping to raise $596,160,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to partially fund the cash portion of an acquisition of approximately 55,000 net acres in the Williston Basin, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 7,200,000 shares.

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  • The Southern Company (NYSE: SO)

    BB&T Capital Markets’ Energy Group completed a transaction for a public utility holding company in the third quarter of 2016, helping to raise $800,000,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to repay short-term indebtedness and other general corporate purposes, including investment by the Company in its subsidiaries.

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  • Oasis Petroleum Inc. (NYSE: OAS)

    BB&T Capital Markets’ Energy Group completed a transaction for an exploration and production company in the third quarter of 2016, helping to raise $300,000,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to fund its tender offers for up to $275mm, plus accrued interest of its senior notes, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 25,000 notes.

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  • Chesapeake Utilities Corporation (NYSE: CPK)

    BB&T Capital Markets’ Energy Group completed a transaction for a diversified energy company in the third quarter of 2016, helping to raise $59,799,983 in gross proceeds for our client.

    BB&T Capital Markets’ Energy Group completed a transaction for a diversified energy company in the third quarter of 2016, helping to raise $59,799,983 in gross proceeds for our client.

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  • Targa Resources Corp. (NYSE: TRGP)

    On September 22, 2016, BB&T Capital Markets served as a co-manager for a $500 million offering of 5.375% senior notes due 2027 by Targa Resources Corp.

    Proceeds from this offering, if needed, are being used to fund the purchase of Tender Notes in the Tender Offers. To the extent that the Tender Offers are not completed or the net proceeds of this offering exceed the amount needed to fund the Tender Offers, the remaining net proceeds will be used for general partnership purposes.

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  • Noble Midstream Partners LP (NYSE: NBLX)

    BB&T Capital Markets’ Energy Group completed a transaction for a midstream oil & natural gas company in the third quarter of 2016, helping to raise $323,437,500 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to pay a cash distribution to Noble Energy for dedication of initial assets and for general corporate purposes. Total gross proceeds include the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,875,000 shares.

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  • Great Western Petroleum, LLC

    On September 15, 2016, BB&T Capital Markets served as a co-manager for a $300 million offering of 9.00% senior notes due 2021 by Great Western Petroleum and Great Western Finance Corp.

    The net proceeds from this offering will be used to repay in full their term loan credit facility, approximately $183 million to pay down all borrowings outstanding under the company’s revolving credit facility and the remaining net proceeds for general corporate purposes.

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  • Washington Gas Light Company (NYSE: WGL)

    On September 13, 2016, BB&T Capital Markets served as a co-manager for a $250 million offering of 3.796% medium term notes due 2046 by Washington Gas Light Company.

    Proceeds from the offering are being used to retire short-term debt primarily used to fund the company’s capital expenditure program and for general corporate purposes.

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  • Southern Company (NYSE: SO)

    On September 12, 2016, BB&T Capital Markets served as an underwriter for a $800 million offering of 5.25% junior subordinated notes due 2076 by Southern Company.

    Proceeds from offering will be used to repay short-term indebtedness that was incurred to fund the maturity of the Company’s $500 million aggregate principal amount of Series 2011A 1.95% Senior Notes due September 1, 2016 and for other general corporate purposes.

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  • Antero Midstream Partners, LP. (NYSE: AM)

    On September 8, 2016, BB&T Capital Markets served as a co-manager for a $650 million offering of 5.375% senior notes due 2024 by Antero Midstream Partners LP and Antero Midstream Finance Corporation.

    Proceeds from the offering are being used to repay the outstanding $760 million debt on their revolving credit facility.

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  • Southern Company (NYSE: SO)

    On September 8, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 2.45% senior notes due 2023 and $550 million offering of 3.95% senior notes due 2046 by Southern Company Gas Capital Corporation.

    Proceeds from the offering of the 2.45% senior notes will be used for general corporate purposes and the proceeds from the 3.95% senior notes will be used to repay funds that The Southern Company lent to complete the acquisition of Southern Company Gas, and related transaction costs.

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  • AmeriGas Partners, L.P./AmeriGas Finance Corp.

    On June 20, 2016, BB&T Capital Markets served as a co-manager for a $1,350,000,000 offering of senior notes by AmeriGas Partners, L.P./AmeriGas Finance Corp. The offering consisted of two tranches: a $675,000,000 tranche of 5.625% senior notes due 2024 and a $675,000,000 tranche of 5.875% senior notes due 2026. Proceeds from the offering were used to repay in full the issuers’ 6.250% Senior Notes due 2019 and 6.500% Senior Notes due 2021 and the 6.750% Senior Notes due 2020 issued by AmeriGas Finance and AmeriGas Finance LLC and guaranteed by AmeriGas Partners and for general corporate purposes.

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  • Republic Services, Inc. (NYSE: RSG)

    On June 20, 2016, BB&T Capital Markets served as a co-manager for a $500,000,000 offering of 2.900% notes due in 2026 by Republic Services, Inc. Proceeds from the offering are being used to fund tender offers for Republic’s 6.200% notes due 2040; 5.700% notes due 2041; 7.400% debentures due  2035; and its 6.086% notes due 2035.

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Our Areas of Expertise

Oil & Gas:

Midstream and Upstream

Coal:

Coal Producers and Diversified Mining

Utilities:

Electric, Gas, Water and Cooperatives