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*** LAUNCHED: Shell and Santander Date.....>

PIPELINE
PIPELINE: *** LAUNCHED: Shell and Santander
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/07 $Benchmark Volkswagen Grp of America 7-part (last issued in early 2017 was
very well subscribed) 2Y +95a, 2Y FRN L-equiv, 3Y +110a, 3Y FRN L-equiv, 5Y
+130a, 7Y +150a, 10Y +165a
11/07 $3b Shell International Finance Debt Offering in 3-parts; $1b 5Y +53a, 
      $500m 5Y FRN at L +40a, $1.5b 10Y +75a
11/07 $2b Santander UK; $1b 6NC5 +173, $500m 3Y +83, $500m 3Y FRN 3mL +66
11/07 $Benchmark ING Groep long 7Y (12Y Euro-denominated Gr bond)
11/07 $Benchmark Barclays 4NC3 fix/FRN +170, 4NC3 FRN Libor equiv

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