US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 08/06 $Benchmark: No new issuance on docket as yet; $34.17B total/wk
• $9.65B Priced Thursday
• 08/05 $5B *Amgen 4pt: $1.25B 7Y +65, $1.25B 10Y+85, $1.15B 20Y+105, $1.35B 30Y+115
• 08/05 $1.7B *Westlake Chem $300M 3NC1 +55, $350M 20Y +125, $600M 30Y +140, $450M 40Y +165
• 08/05 $850M *So-Cal Edison $400M 2Y +50, $450M 3Y +60
• 08/05 $600M *Mid-America Appts, $300M each WNG 5Y +47, WNG 30Y +107
• 08/05 $1.5B *Ford Motor Co 5Y 2.7%
• $5.65B Priced Wednesday
• 08/04 $2B *Raytheon Tech 10Y +75a, 30Y +100a
• 08/04 $1.5B *Barclays Plc 7Y 4.375%
• 08/04 $1B *Brunswick 3NC1 +60a, 10Y +130a
• 08/04 $500M *Summit Digital 10Y +187.5
• 08/04 $650M *Chemours 8.25NC3.25
• $7.5B Priced Tuesday
• 08/03 $2B *UBS 3Y +60a, 3Y FRN/SOFR+60a, 6NC5 +105a
• 08/03 $1.5B *Rockwell Automation $600M 2NC1 +20, $450M 10Y +60, $450M 40Y +95
• 08/03 $1.3B *Ashtead Capital $550M 5Y +90, $750M 10Y +130
• 08/03 $1.25B *JP Morgan 4NC3 fix to FRM +45
• 08/03 $800M *National Bk of Canada $500M 3Y +45, $300M 3Y FRN/SOFR+49
• 08/03 $650M *Invitation Homes 10Y +100
• $11.37B Priced Monday
• 08/02 $3.75B *Credit Suisse $1.4B 2Y +35, $600M 2Y FRN/SOFR+38, $1.75B 5Y +65
• 08/02 $2.5B *Honeywell Int $1B 5.5Y +45, $1.5B 10Y +60
• 08/02 $2.5B *Sirius XM Radio $1B 5NC2 3.2, $1.5B 10NC5 3.875%
• 08/02 $2B *Charter Comm 12.5NC6.5 4.25%, upsized from $1.25B
• 08/02 $620M *Rwanda 10Y 5.5%

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Total high-grade issuance of $37.9B put May at $159.125B -- well off May 2020 total of $270.9B. April 2021 comes in third place so far this year with $183.4B -- and well off last year's all-time record of $401.325B. March still leads 2021 with stellar $232.62B high-grade corporate issuance vs. $275.48B for Mar 2020. Q1'21 ahead last years pace $618.03B vs. $548.16B.