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Banks, Dealers, Autos Continue to Issue Debt

PIPELINE

Banks and auto manufacturers (Honda after Toyota Monday) continue to issue debt after $12.5B placed Monday. Largely swappable between 3s-10s, hedges weighing on shorts to intermediates, swap spds off wides, however. Credit spds remain tight

  • Date $MM Issuer (Priced *, Launch #)
  • 01/11 $Benchmark KFW 3Y SOFR+10
  • 01/11 $Benchmark Societe Generale 5pt 4NC3 fix/FRN, 6NC5, 11NC10, 21NC20
  • 01/11 $Benchmark SONOCO Products 3NC1 +75a, 5Y +90a, 10Y +125a
  • 01/11 $Benchmark Kommunalbanken Norway (KBN) 5Y SOFR+29
  • 01/11 $Benchmark MUFG 6NC5 +105a, 11NC10 +130a
  • 01/11 $Benchmark American Honda 3Y +50a, 7Y +80a
  • 01/11 $Benchmark Triton Container Int 10Y +180a
  • 01/11 $500M JBIC WNG 5Y Green +39a
  • 01/11 $Benchmark CIBC 5Y SOFR+50a
  • 01/11 $Benchmark ADB 5Y SOFR+22
  • $12.5B Priced Monday
  • 01/10 $2.6B *Toyota $1.15B 3Y+30, $300M 3Y SOFR+32, $750M 5Y+40, $400M 10Y +68
  • 01/10 $2B *BP Capital 10Y +95
  • 01/10 $1.2B *Southern California Edison $500M 10Y +98, $700M 30Y +135
  • 01/10 $1.5B *Dick's Sporting $750M 10Y +140, $750M 30Y +200
  • 01/10 $1.15B *Blackstone Private Cr Fund $500M 3Y +150, $650M 7Y +240
  • 01/10 $2.05B *BPCE $850M 3Y +55, $400M 3Y SOFR+57, $800M 15NC10 +190
  • 01/10 $1.5B *Korea National Oil 3.25Y +60, 5.25Y +70, 10.25Y +90
  • 01/10 $500M *GCC WNG +10Y +185

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