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Thursday had a moderate US$4.4B in......>

US PIPELINE
US PIPELINE: Thursday had a moderate US$4.4B in high-grade corporate/sovereign
debt. That brings the week's total to $19.85B in such issuance, with scant
issuance likely Friday. The CDX investment grade index meanwhile is mildly
tighter by 0.53 bps today to 52.84. In the secondary market, subordinated
financials, communications, materials and  utilities are trading the best,
tightening in on spread, while industrials and consumer staples underperform.
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10/19 $600M *Kia Mtrs Baa2/A-/BBB+ 144a/RgS 5.5Y+120  BNP/BAML/C/CA/HSBC/NOM
10/19 $300M *Kia Mtrs Baa2/A-/BBB+ 144a/RgS 10Y+125   BNP/BAML/C/CA/HSBC/NOM
10/19 $1.7B *TD Bank A2/AA-/AA- 2Y +40                BAML/C/JPM/TD/UBS
10/19 $300M *TD Bank A2/AA-/AA- 2Y FRN 3ml+15         BAML/C/JPM/TD/UBS
10/19 $1.2B *US Bank Cincinnati 3Y Fixed +37          GS/MS/USB
10/19 $300M *US Bank Cincinnati 3Y FRN 3ml+14         GS/MS/USB

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