March Corporate Issuance Over $183B vs. $122B in March 2023

Pace of corporate bond issuance is slowing down heading into month end. Total for the month of March (including foreign corporate and supra sovereigns) is over $183B at the moment - compares to March '23 of $122.05B.

• Date $MM Issuer (Priced *, Launch #)
• 3/27 $750M #Swiss Re 11NC10 +150
• 3/27 $500M #St Marys Cement Inc Canada 10Y +170
• 3/27 $Benchmark New York Life 3Y +55, 3Y SOFR
• $20.1B Priced Tuesday, $31.15B/wk
• 3/26 $4B *Glencore Funding $800M 3Y +95, $350M 3Y SOFR+106, $1.1B 5Y +115, $1.25B 10Y +140, $500M 30Y +150
• 3/26 $3.75B *Quebec 5Y SOFR+50
• 3/26 $2.75B *Smurfit Kappa $750M +5Y +100, $1B 10Y +120, $1B 30Y +137.5
• 3/26 $2.25B *TD Bank $850M 3Y +60, $500M 3Y SOFR+73, $900M 5Y +78
• 3/26 $1.5B *SMBC Aviation Capital $650M 5Y +108, $850M 10Y +135
• 3/26 $1.25B *CSL $600M 10Y +87, $600M 30Y +102
• 3/26 $1.2B #Marathon Oil $600M 5Y +112, $600M 10Y +147
• 3/26 $1.15B *Algonquin Power WNG 2Y +150a
• 3/26 $1B *AIA 10Y +125
• 3/26 $750M *CQB (The Commercial Bank, Qatar) 5Y +5.375%
• 3/26 $500M *Yapi Kredi PerpNC5.25 9.75%