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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.
Company: Corporate Office Properties Trust
Symbol: OFC
Price: Last Trade $31.95
Trade Date: 10/31
Shares: 8 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Wells Fargo, BofA Merrill Lynch
Description: COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology related activities servicing priority missions (“Defense/IT Locations”).
Rating = Subscription Needed
Company: Enviva Partners, LP – Block
Symbol: EVA
Price: Last Trade $29.10
Trade Date: 10/31
Shares: 1.1 million
Re-Offer Range: Subscription Needed
Underwriter(s) : RBC Capital
Description: Enviva Partners, LP produces and supplies utility-grade wood pellets to power generators. Enviva Partners GP, LLC operates as the general partner of the company. Enviva Partners, LP was founded in 2013 and is based in Bethesda, Maryland. Enviva Partners, LP operates as a subsidiary of Enviva Holdings, LP.
Rating = Subscription Needed
Company: TransUnion
Symbol: TRU
Price: Last Trade $52.47
Trade Date: 10/31
Shares: 7.5 million
Re-Offer Range:Subscription Needed
Underwriter(s) : Morgan Stanley, Goldman Sachs & Co.
Description: TransUnion is a leading global risk and information solutions provider to businesses and consumers.
Rating = Subscription Needed
Company: Constellium N.V.
Symbol: CSTM
Price: Last Trade $12.10
Trade Date: 11/1
Shares: 22 million
Underwriter(s) : Credit Suisse, Deutsche Bank, BofA Merrill Lynch, BNP PARIBAS, Goldman Sachs, J.P. Morgan
Co-Manager(s): Barclays, BMO, Citi, HSBC, Morgan Stanley
Description: They are a global leader in the design and manufacture of a broad range of innovative rolled and extruded aluminium products, serving primarily the packaging, aerospace and automotive end-markets.
Rating = Subscription Needed