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$13B Bristol-Meyers Squibb 9Pt Jumbo Issuance Launched, Tsys Gain?

PIPELINE

Bristol-Meyers Squibb deal book had risen to $85B prior to the $13B launch. Note, Treasury futures are extending highs at the moment - partially due to specs unwinding shorts as the jumbo issue came out in line with estimates.

  • Date $MM Issuer (Priced *, Launch #
  • 2/14 $13B #Bristol-Meyers Squibb $1B 2Y +40, $500M 2Y SOFR+49, $1B 3Y +55, $1.75B 5Y +70, $1.25B 7Y +85, $2.5B 10Y +95, $500M 20Y +100, $2.75B 30Y +115, $1.75B 40Y +125
  • 2/14 $1.15B #Cardinal Health $650M 5Y +90, $500M 10Y +120
  • 2/14 $Benchmark Marsh & McLennan 10Y +115a, 30Y +130a
  • 2/14 $Benchmark Cummins 5Y +75, 10Y +95, 30Y +105
  • 2/14 $Benchmark BNP Paribas PerpNC7.5 8.625%a
  • 2/14 $Benchmark Synchrony Financial investor calls
  • Expected to issue Thursday:
  • 2/15 $Benchmark World Bank 3Y SOFR+28a
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