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No new supply yet Date $MM.................>

PIPELINE
PIPELINE: No new supply yet
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
No high-grade issuance Wednesday
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On the radar: German based multi-national pharma Bayer AG is looking looking to
issue $6.9B in 3- to 30Y US$ denominated debt to "simplify its capital
structure" after closing it's $63B buyout recently. Aside from US$ denominated
issuance, Bayer also looks to issue appr E14.2B Euro denominated supply between
4- and 12Y tranches in the near term.

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