Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table data dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table data dispatch articles.
Wells Fargo Securities LLC was the top utilities debt dealmaker, ranked by deal credit, as of the end of the third quarter of 2018 with 42 offerings and a total deal credit of about $3.84 billion. J.P. Morgan Securities LLC followed with 40 offerings and a total deal credit of about $3.76 billion.
There were 43 debt deals in the quarter raising about $14.88 billion at an average size of $346.1 million.
NextEra Energy Capital Holdings Inc. in late August completed the sale of about $1.14 billion in senior unsecured debt. The NextEra Energy Inc. subsidiary on Aug. 23 completed the sale of $75 million in floating-rate senior unsecured debt. NextEra Energy Capital also sold $716 million of its floating-rate debentures due Aug. 21, 2020, and $350 million of senior unsecured debt due Aug. 28, 2021.
NextEra Energy Capital plans to use the proceeds to fund investments in energy and power projects and for other general corporate purposes, including repaying a portion of the company's outstanding commercial paper obligations. Wells Fargo Securities LLC acted as the sole book-running manager.
Barclays Capital Inc. was the top common equity offering dealmaker through the third quarter, underwriting six offerings at a total deal credit of $2.42 billion. Citigroup Global Markets Inc. claimed the second spot with six offerings and a total deal credit of about $1.65 billion.
There were six common equity offerings in the third quarter of 2018, raising about $3.26 billion at an average size of $543.1 million.
CenterPoint Energy Inc. in late September priced concurrent public offerings of nearly $1.90 billion of common shares and $977.5 million of preferred shares. This amount includes the underwriters exercising their option to purchase an additional $247.5 million of common shares and up to an additional 2.55 million depositary shares at $50 each.
CenterPoint Energy plans to use the additional equity to reduce debt needed to finance its pending acquisition of Vectren Corp. and improve credit metrics.
Barclays, Morgan Stanley, Goldman Sachs & Co. LLC, Citigroup, Wells Fargo Securities, Credit Suisse (USA) Inc., Deutsche Bank Securities Inc. and J.P. Morgan served as joint book-running managers for the offerings.
Barclays and Morgan Stanley led preferred equity offerings through the first nine months of the year with each firm underwriting four offerings at a total deal credit of $843.2 million. RBC Capital Markets LLC followed with three offerings and a total deal credit of $721.7 million.
There were three preferred equity offerings in the third quarter, raising $2.35 billion at an average size of $784.2 million.