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Pipeline Expanding

PIPELINE

Chatter that Alphabet 6pt total at $10B, seems small. Note Tsy futures extended overnight lows earlier -- minutes prior to word of Alphabet intention to issue (not to mention AstraZeneca), fast$, prop acct selling ahead rate locks.
Date $MM Issuer (Priced *, Launch #)

  • 08/03 $Benchmark Alphabet 6pt: 5Y +40a, 7Y +55a, 10Y +75a,
  • 20Y +90a, 30Y +105a and 40Y +125a
  • 08/03 $Benchmark AstraZeneca +5Y +80a, 10Y +110a, 30Y +135a
  • 08/03 $500M #China Int Capital Corp 3Y +170
  • 08/03 $1B Praxair 10Y +85a, 30Y +110a
  • 08/30 $500M Textron WNG +10Y +230a
  • 08/03 $500M DTE Energy 5Y +120a
  • 08/03 $400M Mid-America Apt +10Y +150a
  • 08/03 $350M Kilroy Realty 12Y +240a

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