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Goldman Sachs, Citigroup on Tap

PIPELINE
Banks off the sidelines after Wed's fourth largest debt issuance priced successfully:
  • Date $MM Issuer (Priced *, Launch #)
  • 03/10 $Benchmark Goldman Sachs 2Y +150a, 2Y FRN/SOFR, 6NC5 +185a, 6NC5 FRN/SOFR
  • 03/10 $Benchmark Citigroup 4NC3 +155a, 4NC3 FRN/SOFR, 11NC10 +195a
  • 03/10 $Benchmark Charter communications 11Y +270a, 31Y +320a, 41Y +345a
  • 03/10 $Benchmark DBS Bank 5Y +68a
  • 03/10 $Benchmark MPLX 30Y +275a
  • $30.5B Priced Wednesday, ATT/Discovery 11pt deal 4th largest on record
  • 03/09 $30B *Magallanes, Inc* $1.75B 2Y +175, $500M 2Y NC1 +185, $500M 2Y FRN/SOFR+178, $1.75B 3Y +180, $500M 3Y NC1 +195, $4B 5Y +190, $1.75B 7Y +215, $5B 10Y +235, $4.5B 20Y +265, $7B 30Y +280, $3B 40Y +305
  • 03/09 $500M *Public Service Electric & Gas 10Y +120

* Magallanes, Inc related to ATT/Discovery deal main focus in corporate spheres today. In early February, ATT announced early they would spin off WarnerMedia in a $43 billion transaction to merge media properties with Discovery. Today's 11-part mega-deal: Magallanes, Inc (aka Spinco -- wholly owned T sub under a registration statement filed last Nov) will converts automatically after the divestiture to WarnerMedia Business.

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