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US$ Corporate Debt Weighing on Tsys

PIPELINE

Flurry of new issuance, rate lock hedges likely contributing to Tsys extending lows in early NY trade. Conservative estimated issuance on day at $12.5B.

  • Date $MM Issuer (Priced *, Launch #)
  • 5/20 $2.35B Staples 5.25NC2.25 10.5%a
  • 5/20 $Benchmark Elevance Health 5Y +100a, 10Y +120a, 30Y +135a
  • 5/20 $Benchmark PayPal 10Y +100a, 30Y +120a
  • 5/20 $Benchmark AEP Texas 5Y +125a, 10Y +150a
  • 5/20 $Benchmark Svenska Handelsbanken 3Y +80a
  • 5/20 $Benchmark UPS 10Y +95a, 30Y +115a, 40Y +125a
  • 5/20 $500M Zebra Tech 8NC3
  • 5/20 $500M California Resources 5NC2
  • 5/20 $Benchmark HTA Group/Helios investor calls
  • 5/20 $Benchmark Rep of Latvia 10Y investor calls
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Flurry of new issuance, rate lock hedges likely contributing to Tsys extending lows in early NY trade. Conservative estimated issuance on day at $12.5B.

  • Date $MM Issuer (Priced *, Launch #)
  • 5/20 $2.35B Staples 5.25NC2.25 10.5%a
  • 5/20 $Benchmark Elevance Health 5Y +100a, 10Y +120a, 30Y +135a
  • 5/20 $Benchmark PayPal 10Y +100a, 30Y +120a
  • 5/20 $Benchmark AEP Texas 5Y +125a, 10Y +150a
  • 5/20 $Benchmark Svenska Handelsbanken 3Y +80a
  • 5/20 $Benchmark UPS 10Y +95a, 30Y +115a, 40Y +125a
  • 5/20 $500M Zebra Tech 8NC3
  • 5/20 $500M California Resources 5NC2
  • 5/20 $Benchmark HTA Group/Helios investor calls
  • 5/20 $Benchmark Rep of Latvia 10Y investor calls