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IBM 7Pt Debt Issuance on Tap

PIPELINE

Pick-up in corporate issuance, particularly the IBM 7pt coincides with round of rate lock selling in the last few minutes. IBM's planned 7pt issuance out of the norm after averaging around $3.75B debt issuance on 3-4 tranches since 2020.

  • Date $MM Issuer (Priced *, Launch #
  • 1/29 $Benchmark IBM 7-part: 2Y +60a, 3Y +70a, 5Y +80a, 7Y +90a, 10Y +100a, 20Y +105a, 30Y +120a
  • 1/29 $2.5B UKG Inc. 7NC3
  • 1/29 $800M Nationstar Mortgage 8NC3
  • 1/29 $500M OPEC Fund WNG 3Y SOFR+80a
  • 1/29 $Benchmark Kinder Morgan 5Y +135a, 10Y +160a
  • 1/29 $Benchmark Nextera 2Y, 2Y SOFR, 5Y, 10Y, 30Y
  • 1/29 $Benchmark Hyundai Capital 3Y +140a, 5Y +150a
  • 1/29 $Benchmark Capital One Financial, 6NC5 +200a, 11NC10 +225a
  • 1/29 $Benchmark Northrop Grumman 5Y +87.5a, 10Y +100a, 30Y +115a
  • 1/29 $Benchmark Golub Capital +5Y +240a
  • $1.25B Priced Friday, $52.25B/wk
  • 1/26 $1.25B *Huntington Bancshares 11NC10 +155
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