Monday's $12B Saudi Arabia 3Pt US$ Issuance Largest Since May'23

Saudi Arabia's $12B 3pt US$ issuance led Monday's supply, the largest issuer since May of 2023 when Pfizer issued $31B over 8 tranches. Incidentally, Saudi Arabia issued $6B Sukuk over two tranches in May'23 as well: $3B 6Y +80, $3B 10Y +100.

• Date $MM Issuer (Priced *, Launch #)
• 1/9 $5B KFW +5Y +42
• 1/9 $Benchmark OKB 5Y
• 1/9 $Benchmark Sumitomo Life PerpNC10
• Expected Wednesday:
• 1/10 $Benchmark Asian Infrastructure Investment Bank 5Y SOFR+56a
• $28.4B Priced Monday
• 1/8 $12B *Saudi Arabia $3.25B 6Y +90, $4B 10Y +110, $4.75B 30Y +170
• 1/8 $3.75B *Mercedes Benz 5pt: $700M 2Y +55, $650M 2Y SOFR+67, $800M 3Y +70, $850M 5Y +90, $750M 10Y +100
• 1/8 $2.55B *BPCE $650M 3Y +108, $1B 6NC5 +175, $900M 11NC10 +250
• 1/8 $2B *ANZ Banking Group $1.2B 3Y +63, $800M 3Y SOFR+81
• 1/8 $2B *Honda 3pt: $850M 2Y +60, $400M 2Y SOFR+71, $750M 10Y +93
• 1/8 $1.5B *SK Hynix $500M 3Y +145, $1B 5Y +167
• 1/8 $1.4B *Southern California Edison $500M 3Y +75, $900M 10Y +120
• 1/8 $700M *RGA Global Funding 7Y +160
• 1/8 $1.25B *Realty Income Group 5Y +95, 10Y +125
• 1/8 $750M *National Grid 10Y +142
• 1/8 $500M *Principle Life 3Y +90