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AIIB inaugural launched; pace slows........>

PIPELINE
PIPELINE: AIIB inaugural launched; pace slows after $48.6B priced by Wednesday
Date $MM Issuer/Rating/Desc/Maturity/Yld; Priced *; Launch #:
05/09 $2.5B #Asia Infrastructure Inv Bank (AIIB) 5Y +6
05/09 $500M O'Reilly Automotive WNG 10Y +145a
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$26.55B priced Wednesday ($48.6B/wk), IBM lion's share after $19B BMY Tue
05/08 $20B *IBM 8-part (est. $20-25B):
----  $1.5B 2Y +50, $1.5B 2Y FRN L+/-, 2.75B 3Y +60, $3B 5Y +80, 
----  $3B 7Y +95, $3.25B 10Y +105, $2B 20Y +130, $3B 30Y +145
05/08 $3B *EIB 5Y +6
05/08 $600M *Reinsurance Group 10Y +145
05/08 $400M *USAA Capital Corp WNG 2Y +37.5
05/08 $600M *Bell Canada 30Y +142, upsized from $500M
05/08 $1.5B *MGM China $750M 5NC2, $750M 7NC3
05/08 $450M *AvalonBay 10Y +82 Upsized from $350M

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