December 2, 2011  - New York, New York: CL King & Associates, a leading full-service investment bank, broker/dealer and research boutique, is pleased to announce that Morry Brown, Jon Grasz, Matthew Oliver and Gowshihan Sriharan have joined the firm. 

Louis Parks, who heads the firm’s Institutional Equity Division, expressed confidence in the prospects for the firm’s newest professionals.   According to Parks, “CL King’s clients continue to express a strong interest in our targeted expansion within the equity marketplace.  Our focus on small and mid-capitalization stocks fills a critical void for buy-side firms looking for an independent research voice built on integrity and commitment to excellence. These new professionals will be an integral part of our delivery of the highest quality small and mid-cap research product available today.”  Read More

CL King acted as Junior Co-Manager for Walt Disney’s $1B issue of 0.875% Global Notes due 2014 and $600MM issue of 4.125% Global Notes due 2041. Proceeds will be used for general corporate purposes. The issue is rated A2/A/A.

November 15, 2011 – New York – CL King & Associates, a leading boutique broker/dealer, was highly ranked in the latest Transaction Cost Analysis survey conducted for Institutional Investor Magazine by Elkins/McSherry, a division of Boston-based State Street Corporation. Read more >

CL King co-managed Prudential Financial’s $325MM issue of 5.80% Senior Notes due 2041. Proceeds will be used to refinance existing notes and for general corporate purposes. The issue is rated Baa2/A/BBB+.

CL King acted as underwriter in KKR’s $225MM issue of 8.375% Senior Notes due 2041. The notes were offered at $25 par. Proceeds will be used to repurchase or repay a portion of KKR’s existing senior indebtedness, with the remaining proceeds to be used for general corporate purposes. The issue is rated NR/BBB-/BBB.

CL King acted as underwriter in Goldman Sachs’ $500MM issue of 6.50% Notes due 2061. The notes were offered at $25 par. Proceeds will be used for general corporate purposes. The issue is rated A1/A/A+.

October 5, 2011 - New York - CL King & Associates is proud to announce Robert M. Goldman, CFA, Lawrence M. Harris and Ross Taylor have been ranked among the top 10 analysts in their respective sectors by StarMine for the period ended September 30, 2011.  Read More >

CL King co-managed Qwest Corporation’s $500MM issue of 7.50% Notes due 2051. The notes were offered at $25 par. Proceeds will be used to repurchase or repay a portion of Qwest’s existing senior indebtedness, with the remaining proceeds to be used for general corporate purposes. The issue is rated Baa3/BBB-/BBB-.

CL King & Associates held its 9th annual Best Ideas Conference on September 13 and 14 at the Omni Berkshire Place Hotel in New York City. It attracted a record 94 presenting companies and more than 575 attendees. Save the date for next year's conference: September 12-13, 2012!  Read More >

CL King co-managed the offering, which consisted of 2,850,000 shares of CPF common stock priced at $12.75 per share. The offering raised $36,337,500. CPF will not receive any of the proceeds from the sale of the shares by the Treasury.

Albany, New York: CL King & Associates, a leading full-service investment bank, broker/dealer and research boutique, is pleased to announce that Abbe Rice, Peter Andorfer and Marcus Valentiner have joined the firm.

Abbe Rice has joined CL King’s Boston trading desk. Formerly with Siebert Financial, Rice covered accounts in the Boston region in addition to working directly with the CEO on special projects in the equity markets. Rice also spent 16 years at Bear Stearns as a senior sales trader covering accounts in Boston. She has a BS in Business Administration from Northeastern University

Peter Andorfer, who will work out of CL King’s New York office on Madison Avenue, joins the company from JMP Group, where he covered accounts in the New York City region. Prior to JMP, Andorfer worked at Stern Agee Leach and Oppenheimer, also covering accounts in the New York metro region. Andorfer began his Wall Street career on the floor of the NYSE, where he worked for Robertson Stephens.

Marcus Valentiner, formerly with Friedman Billings Ramsey, where he covered accounts in Germany and Switzerland, will be part of CL King’s international sales team focusing on Continental Europe and London. Prior to Friedman, Valentiner worked at both Deutsche Bank and JP Morgan, where he also provided sales trading coverage to European institutional clients. He has a degree in Business Economics from Open University in Hagen, Germany. His home base will be CL King’s Madison Avenue, New York office.

CL King co-managed GM Financial’s $500MM issue of 6.75% Senior Notes due 2018. The offering was a 144A/Regulation S with registration rights. Proceeds will be used to redeem its outstanding 8.5% senior notes due in 2015 and for general corporate purposes. The issue is rated B1/B/BB-.

The offering was GMF’s debut bond issue.

CL King acted as junior co-manager in the offering, which consisted of 300 million shares of AIG common stock priced at $29.00 per share by AIG and the U.S. Department of the Treasury. The offering raised $8.7B, with 100 million shares issued and sold by AIG and 200 million shares sold by the Treasury.

CL King co-managed a Prudential Financial $500MM note issue due May 2016. Proceeds will be used for general corporate purposes. The issue is rated Baa2/A with a stable outlook.

Albany, New York: CL King & Associates, a leading full-service investment bank, broker/dealer and research boutique, is pleased to announce that Robert Weeks, Brian Marshall, Vanessa Jagenburg, and Jeremiah Jacobson have joined the firm effective April 2011.

Robert “Bob” Weeks joins the equity sales team at CL King from Raymond James, where he served as the New York City institutional sales manager.  Prior to Raymond James, Weeks was the institutional equity sales manager at BT Securities, as well as a senior equity salesperson at ABN Amro and at Morgan Stanley & Company. Weeks will cover accounts in the New York-metropolitan area as well as serve as the product manager for research distribution.

Brian Marshall will join the ranks of the equity sales team. Marshall was formerly with Robert W. Baird, where he was a senior equity salesperson covering the New York-metropolitan area.  Prior to Baird, Marshall was a senior salesperson at Jefferies and Deutsche Bank/Alex Brown, where he also served as the institutional office manager.

Vanessa Jagenburg joins CL King’s trading desk from LaBranche Capital, where she was a senior institutional sales trader covering accounts in the New York- metropolitan area as well as in Denver, Colorado.  Prior to LaBranche, Jagenburg worked at Lehman Brothers, where she began her trading career. 

Also joining the CL King sales roster as an associate sales professional is Jeremiah Jacobson.  Jacobson comes to CL King from SGG Management, where he was a financial analyst.  Prior to SGG, he worked as an investment coordinator at TPG Credit Management and a senior associate in both equities and fixed income at RBC Capital Markets.

Weeks, Marshall, and Jagenburg will all be located in CL King’s institutional offices in New York City, whereas Jacobson will be based in the firm’s institutional office in Minneapolis.

CL King co-managed Ally Financials $2.7B offering of trust preferred securities (TruPS). U.S. Treasury was the sole seller of the securities. The issue is rated B3/CC/B+ with a stable outlook.

The transaction marks another successful milestone for the U.S. Treasury in its effort to recover TARP funds and also aided Ally Financial as it seeks to replace government support with private capital from the financial markets.

CL King co-managed a Citigroup $1.25B two-year floating rate senior note issue due February 2013. Proceeds will be used for internal funding purposes. The issue is rated A3/A+ with a negative outlook.

CL King continues to successfully help companies raise money in the capital markets.

CL King finished 2010 ranked #1 by co-managing 840 competitively sold Municipal issues, more deals than any other underwriter. This maintained CL King’s #1 rank from last year, when the firm co-managed 697 Municipal issues.  Ranked by total volume split by each co-manager, CL King finished 6th in 2010, and 3rd in 2009. These statistics were compiled by Thomson/Reuters. 

CL King’s experience with turnaround and auto-related equity stories helped us market GM’s value proposition to investors. The offering, a combination of common and mandatory convertible junior preferred stock, raised $23.1B, making it not only the largest U.S. IPO of 2010, but the largest ever globally. The offering included 549.7 million shares of common stock for a total of $18.1B, and 100 million shares of mandatory convertible junior preferred stock for a total of $5.0B. General Motors begins NYSE trading under the ticker symbol “GM” today.

CL King has received National Certification from of the Women’s Business Enterprise National Council (WBENC). WBENC’s national standard of certification is a meticulous process that includes an in-depth review of the business and site inspection designed to confirm the business is owned, operated and controlled by a woman or women. By including women-owned businesses among their vendors, corporations and government agencies demonstrate their commitment to fostering diversity and the continued development of their supplier/vendor diversity programs.

CL King acted as co-manager in the offering, which was composed of 13 million warrants to purchase common stock of Lincoln National Corporation at $16.60 per warrant. The aggregate net proceeds to the U.S. Treasury from the offering was $213.7MM. The proceeds provide an additional return to the American taxpayer from Treasury’s investment in Lincoln National beyond the dividend payments it received from the related preferred stock. The offering was priced through a modified Dutch Auction.

As co-manager on the offering, CL King’s involvement is an indicator of its robust distribution platform and strong underwriting capital base.

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