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CORRECTION: APRIL High-Grade Issuance Near $165B

PIPELINE

Domestic and some foreign bank US$ high-grade debt issuance surged this week, helping push running total for the month just under $165B. Expect issuance to remain strong ahead the May 4 FOMC where 50bp is widely expected (while 75bp hike is not ruled out by markets). No new issuance Friday.

  • Date $MM Issuer (Priced *, Launch #)
  • $18.05B Priced Thursday, $68.65B total for the week
  • 04/21 $8.75B *Bank of America 4pt $2B 3NC2 +115, $500M 3NC2 SOFR+110, $2.25B 6NC5 +140, $4B 11NC10 +165
  • 04/21 $5B *KFW 5Y SOFR+31
  • 04/21 $2.3B *Lockheed Martin $800M 10Y +100, $850M 31Y +125, $650M 40Y +140
  • 04/21 $1B *Development Bank of Japan 5Y SOFR+57
  • 04/21 $1B *PNC Financial perpNC5 6%
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Domestic and some foreign bank US$ high-grade debt issuance surged this week, helping push running total for the month just under $165B. Expect issuance to remain strong ahead the May 4 FOMC where 50bp is widely expected (while 75bp hike is not ruled out by markets). No new issuance Friday.

  • Date $MM Issuer (Priced *, Launch #)
  • $18.05B Priced Thursday, $68.65B total for the week
  • 04/21 $8.75B *Bank of America 4pt $2B 3NC2 +115, $500M 3NC2 SOFR+110, $2.25B 6NC5 +140, $4B 11NC10 +165
  • 04/21 $5B *KFW 5Y SOFR+31
  • 04/21 $2.3B *Lockheed Martin $800M 10Y +100, $850M 31Y +125, $650M 40Y +140
  • 04/21 $1B *Development Bank of Japan 5Y SOFR+57
  • 04/21 $1B *PNC Financial perpNC5 6%