PIPELINE: $2.2B Nigeria 2Pt Kicks Off December Issuance

Date $MM Issuer (Priced *, Launch #)

$8.95B To Price Monday
12/02 $2.2B #Nigeria $700M 6.5Y 9.625%, $1.5B 10Y 10.375%
12/02 $1.8B #Cencora $500M 3Y +55, $600M 5Y +77, $700M 10Y +97
12/02 $1B #Ally Financial $500M 6NC5 +145, $500M 15NC10 +245
12/02 $1B *Santander UK 3Y SOFR+60
12/02 $700M #Jersey Central Power & Light 10Y +95
12/02 $650M #New York Life 5Y +52
12/02 $600M #Georgia Power +5Y +52
12/02 $500M #American Homes 4 Rent 10Y +112.5
12/02 $500M #Evergy 30.5NC5.25 6.65%
12/02 $Benchmark Blackstone 10Y +85
12/02 $Benchmark CVS investor calls

November wrapped up with $94.95B total corporate and supra-sovereign issuance, well shy of $131.7B in November '23 as this years presidential election kept issuers at bay in the beginning of the month.
11/27 $1.25B *Bahrain +7Y Sukuk 5.875%

$13.55B Monday
11/25 $5.2B *ConocoPhillips $1.35B 5Y +55, $650M 7Y +65, $1.25B 10Y +75, $1.3B 30Y +105, $650M 40Y +118
11/25 $2.5B *Wells Fargo 11NC10 +95
11/25 $2B *ABN Amro $750M 4NC3 +78, $500M 4NC3 SOFR+100, $750M 11NC10 +125
11/25 $1.75B *PNC Bank $1.25B 2NC1 +50, $500M 2NC1 SOFR+50
11/25 $1.5B *Citigroup PerpNC5 6.75%
11/25 $600M *Corebridge 5Y +75

$4.6B Priced Thursday, $43.95B total for the week
11/21 $2.5B *JPMorgan 21NC20 +82
11/21 $750M *Expand Energy 10Y +135
11/21 $700M *Honduras 10Y 8.625%
11/21 $650M *DT Midstream 10Y +137.5

$16.25B Priced Wednesday
11/20 $3.55B *AppLovin 5Y +85, 7Y +105, 10Y +112.5, 30Y +137.5
11/20 $3.5B *International Development Assn (IDA) 5Y SOFR+47
11/20 $2.25B *State Street Bank & Trust $1.15B 2Y +28, $300M 2Y SOFR+46, $800M 5Y +50
11/20 $2B *BP Capital $400M 2027 tap +37.5, $650M 5Y +60, $950M 2034 tap +87.5
11/20 $2B *Commonwealth Bank of Australia (CBA) $1.3B 2Y +28, $700M 2Y SOFR+46
11/20 $1B *Blackstone Private Credit Fund $400M 5Y +160, $600M 10Y +190
11/20 $850M *Smurfit Westrock Financing 10Y +100
11/20 $600M *Adani 20Y +7.45%
11/20 $500M *Principle Life 5Y +68

$12.25B Priced Tuesday, $23.1B/wk
11/19 $3B *Lloyds $1.25B 4NC3 +85, $750M 4NC3 SOFR+106, $1B 11NC10 +120
11/19 $2.65B *Alibaba $1B 5.5Y +65, $1.15B 10.5Y +90, $500M 30Y +105
11/19 $2.5B *Republic of Turkiye +5Y Sukuk 6.55%
11/19 $1.75B *National Australian Bank (NAB) $1B -3Y +38, $750M -3Y SOFR+60
11/19 $1.25B *Vistra Operations $500M 2Y +80, $750M 10Y +133
11/19 $600N *Corebridge Financial 40NC5 6.375%
11/19 $500M *Emirates NBD WNG 5Y Reg S +90

$10.85B Priced Monday
11/18 $3B *Morgan Stanley 31NC10 +93
11/18 $2B *Vulcan Materials $500M 5Y +70, $750M 10Y +95, $750M 30Y +112
11/18 $1.5B *General Mills $750M 5Y +70, $750M 10Y +90
11/18 $1.2B *American Tower $600M +5Y +80, $600M +10Y +105
11/18 $1B *Sempra $400M 30NC5 6.625%, $600M 30NC10 6.55%
11/18 $1B *EOG Resources 30Y +107
11/18 $600M *Hyatt $150M 2029 tap +90, $450M 7Y +107
11/18 $550M *Select Medical 8NC3 6.25%

11/15 No new US$ issuance Friday, $52.65B total for the week - well over estimated $35B for the wk

$7.4B Total priced Thursday
11/14 $1.45B *Consolidated Edison WNG $350M 3Y SOFR+52, $450M +10Y +70, $650M +30Y +95
11/14 $1.25B *Dominion Energy 30.5NC10.25 6.625%
11/14 $1B *El Salvador 30Y 9.65%
11/14 $1B *SocGen PerpNC5.5 8.125%
11/14 $750M *Ares Strategic Income +3Y +165
11/14 $700M *Singapore Power 5Y +45
11/14 $500M *Zions WNG 11NC10 +240
11/14 $750M *Natwest PerpNC10 7.30%

$12.4B Priced Wednesday, $45.25B in two days
11/13 $3.5B *Gilead $750M 5Y +50, $1B +10Y +70, $1B 30Y +87.5, $750M 40Y +100
11/13 $2.9B *Cardinal Health $500M 2Y +45, $750M 5Y +70, $1B 10Y +93, $650M 30Y +113
11/13 $2B *People's Republic of China $1.25B 3Y +1, $750M 5Y +3
11/13 $1.25B *BP Capital PerpNC10 6.125%
11/13 $1B *Huntington Ingalls $500M 5Y +110, $500M 10Y +135
11/13 $1B *Swedbank $650M 5Y +70, $350M 5Y SOFR+103
11/13 $750 *Bank of NY Mellon 11NC10 +78

$32.85B Priced Tuesday (largest one-day of issuance since September 4 when $35.45B priced)
11/12 $4.75B *HSBC $1.5B 4NC3 +83, $500M 4NC3 SOFR+104, $2.25B 6NC5 +98, $500M 6NC5 SOFR+129
11/12 $1.75B *HSBC 11NC10 Tier 2 +145
11/12 $4.25B *Citigroup $2.2B 3NC2 +53, $800M 2NC2 SOFR, $1.25B 10NC5 +128
11/12 $3.5B *Republic of South Africa $2B 12Y 7.1%, $1.5B 30Y 7.95%
11/12 $3.5B *BNP Paribas $1.75B 6NC5 +98, $1.75B 11NC10 +148
11/12 $3B *Goldman Sachs 21NC20 +85
11/12 $3B *Westpac $750M -2Y +28, $750M -2Y SOFR+46, $1.5B 11NC10 +120
11/12 $2.45B *Mercedes-Benz $600M 2Y +50, $700M 3Y +63, $550M 3Y SOFR+85, $600M 5Y +80
11/12 $2.3B *Caterpillar $450M 3Y +32, $950M 3Y SOFR+56, $900M 5Y +42
11/12 $1.75B *Huntington Bancshares $1.15B 6NC5 +95, $600M 15NC10 +170
11/12 $1.5B *Societe Generale $1.1B 2.25Y +92, $400M 2.25Y SOFR+110
11/12 $600M *Otis Worldwide 7Y +75
11/12 $500M *Equitable Financial Life Global 3Y +58

11/11 No new US$ issuance Monday

$1.2B Priced on week
11/08 $650M *Athene Global 7Y +108
11/08 $550M *Oncor Electric WNG 5Y +52
Expected next week:
11/12 $Benchmark People's Republic of China 3Y, 5Y estimated at up to $2B between the two tranches, Bbg writes the sale will take place in Riyadh as China looks to deepen financial ties with Saudi Arabia. A long list of bookrunners includes: BOC, BKCOMM, Agricultural Bank of China, BofA, CCB, CICC, C, CA-CIB, DB, FAB, GS, HSBC, ICBC, JPM, Mizuho, StanChart

11/07 No new US$ issuance Thursday

11/06 $500M Champ Acquisition 7NC3 investor calls

11/05 $Benchmark - no new issuance during election day

11/04 $700M *Videotron +10Y +140

11/01 No new issuance Friday