US$ Credit Supply Pipeline

Issuers return from holiday

• Date $MM Issuer (Priced *, Launch #)
• 11/30 $1.75B #National Securities Clearing $1B 3Y +25, $750M 5Y +45
• 11/30 $1.5B #Santander 10Y +190
• 11/30 $750M #Bank of NY Mellon 3Y +20
• 11/30 $650M #Con Edison WNG 3NC1 +47
• 11/30 $500M *McKesson WNG 5Y +55
• 11/30 $Benchmark Istanbul Metro Muni 5Y investor call
• 11/30 $Benchmark Banco Continental investor call
• 11/30 $Benchmark VakifBank 5Y investor call
• Rolled to Tuesday
• 12/01 $Benchmark KBN (Kommunalbanken Norway) 3Y +6a
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• 11/25-11/27 No new issuance, $12.2B total for week
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• $6.5B Priced Tuesday
• 11/24 $2.25B *Rep of Turkey 10Y +6.0%
• 11/24 $2B *IDA (Int Dev Assn, extn of World Bank), 10Y +19
• 11/24 $1.25B *Kommunivest 3Y +4
• 11/24 $1B *NWB (Nederlandse Waterschapsbank) 5Y +9
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• $5.7B Priced Monday (not including GSE)
• 11/23 $4B *Peru $1B 12Y +100, $2B 40Y +125a, $1B 100Y +170
• 11/23 $1.2B *Rep of Serbia, 10Y +2.35%
• 11/23 $500M *Sultanate of Oman 6Y 6.3%, $300M 11Y 6.9%
• 11/23 $3.5B *Fannie Mae 3Y +7
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• Issuance Running Total $109.48B For Month
• 11/19 No new issuance Friday; $65.13B total last wk
• -
• $7.555B Priced Thursday; $65.13B/wk
• 11/19 $3B *Charter Comm's $1B +11Y +147, $650M tap 30Y +207, $1.35B +40Y +227
• 11/19 $1.8B *AES Corp $800M 5Y +100, $1B 10Y +160
• 11/19 $1.2B *Allstate 5Y +40a, 10Y +70a
• 11/19 $555M *Uzbekistan 10Y 3.7%
• 11/19 $500M *Goldman Sachs +5Y +255
• 11/19 $500M *Massachusetts Electric 10Y +88
• -
• $9.05B Priced Wednesday; $57.575B/wk
• 11/18 $2B *Bausch Health $1B 8.25NC3.25 5%, $1B 10.25NC5.25 5.25%
• 11/18 $1.5B *Am Elec Power $450M 3NC1 +55, $600M 3NC1 FRN L+48, $450M 5Y +65
• 11/18 $1.5B *EBRD 5Y +7
• 11/18 $1.25B *VEON Holdings 7Y 3.375%
• 11/18 $1B *TJX $500M +7Y +53, $500M +10Y +73
• 11/18 $700M *Swedish Export Cr 2.5Y SOFR+27
• 11/18 $600M *Stryker WNG 3NC1 +40
• 11/18 $500M *JAB Holdings WNG 10Y +135
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• $35.4B Priced Tuesday, $48.525 for week
• 11/17 $8B *World Bank (IBRD) $3B 3Y +2, $5B 7Y +14
• 11/17 $8B *Saudi Aramco $500M 3Y +110, $1B 5Y +125, $2B 10Y +145, $2.25B 30Y 3.3% yld, $2.25B 50Y 3.65% yld
• 11/17 $4B *VW AM $1B 2Y +60, $1.25B 3Y +70, $1.25B 5Y +90, $500M 7Y +105
• 11/17 $3B *Rep of Italy +5Y +85 (+30Y still considered)
• 11/17 $2B *Deutsche Bank 6NC5 fix/FRN +175
• 11/17 $2B *HSBC 6.5NC5.5 +120
• 11/17 $1.7B *American Tower $500M 3Y +43, $650M 7Y +87.5, $550M 30Y +137.5
• 11/17 $1.5B *ANZ 15NC10 +170
• 11/17 $1.2B *Air Lease $600M 5Y tap +220, $600M 10Y +250
• 11/17 $1.1B *Entergy Louisiana 3NC1 +40
• 11/17 $1B *BNG Bank 5Y +10
• 11/17 $1B *BCFM +3Y +47
• 11/17 $900M *Alexander Funding 3Y +162a
• -
• $13.125B Priced Monday, Mexico priced late
• 11/16 $3.625B *United Mexican States, $1.825B 10Y +175, $1.8B 40Y +210
• 11/16 $2.5B *Goldman Sachs $2B 3NC2 +45, $500M FRN SOFR+54
• 11/16 $1.75B *Phillips 66 $450M +3NC1 FRN L+62, $800M +3NC1 +70, $500M +5Y +90
• 11/16 $1.6B *Georgia Pacific $900M +3Y +40, $700M +5Y +55
• 11/16 $1B *Avalon Holdings +5Y +385
• 11/16 $1B *FFCB 2Y +4
• 11/16 $650M *Athene Global Funding 10Y +165
• 11/16 $500M *Kommunalbanken 2Y tap, +3
• 11/16 $500M *Guardian Life 7Y +65
• -
• No new issuance Friday; $44.35B/wk
• Quiet end to strong week with $44.35B priced over 3 sessions, headliners: $7B Bristol-Myers Squibb 6pt Monday; $12B Verizon 5pt Tuesday; $5.75B JP Morgan fix-FRN 3pt Thursday.
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• $10B Priced Thursday
• 11/12 $5.75B *JP Morgan fix-FRN: $2.75B 6NC5 +65, $1.4B 11NC10 +90, $1.6B 21NC20 +87.5
• 11/12 $1.5B *Societe Generale PNC10 5.375%
• 11/12 $1.45B *Pacific Gas & Electric 1Y FRN 3M LIBOR +137.5
• 11/12 $800M *Equitable Financial Life $500M 3Y +32, $300M 10Y +90
• 11/12 $500M *Inner Mongolia Yili 5Y Reg S +125
• -
• $15.85B Priced Tuesday, $12B Verizon 5Pt Lion's
• 11/10 $12B *Verizon 5pt: $2B 5Y +40, $2.25B +10Y +85, $3B 20Y +115, $2.75B 30Y +115, $2B 40Y +130 (issued $3.5B on March 17: $750M 7Y +215, $1.5B 10Y +225, $1.25B 30Y +250. Verizon still holds record for largest multi-tranche jumbo issuance w/ $49B back in August 2013)
• 11/10 $1.25B *Standard Chartered 15.25NC10.25 +230
• 11/10 $1.25B *Allianz PNC5.4 3.5%
• 11/10 $700M *EUROFIMA 3Y Reg S +10
• 11/10 $650M *L3Harris 10Y +85
• -
• $18.5B Total priced Monday, BMY 6Pt Jumbo Driver
• 11/09 $7B *Bristol-Myers Squibb 6pt: $1.5B 3NC1 +30, $1B 5Y +35, $1B 7Y +45, $1.25B 10Y +55, $750M 20Y +65, $1.5B 30Y +85. BMY prior jumbo issue: total $19B, 9pt on May 7, 2019: $750M 1.5Y +20, $1B 2Y +35, $1.5B 3Y fix +45, $500M 3Y FRN L+38, $3.25B 5Y +73, $2.25B 7Y +90, $4B 10Y +105, $2B 20Y +30, $3.75B 30Y +145.
• 11/09 $4.5B *Morgan Stanley $1.75B 3NC2 +37.5, $2.75B 11.25NC10.25 +85
• 11/09 $2.5B *Westpac 15NC10 +175, 20Y +125
• 11/09 $1.2B *Vereit $500M +7Y +165, $700M 12Y +200
• 11/09 $1.1B *Republic Srvcs $350M 5Y +45, $750M 11Y +80
• 11/09 $1B *Caterpillar 5Y +38, (adds to $2B issued on May 12 and Jan 9)
• 11/09 $600M *Entergy LA $300M 10Y +70, $300M Tap 2.9% +95
• 11/09 $600M *Consolidated Edison 40Y +128
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• No new issuance Friday
• -
• $2.5B Priced Thursday
• 11/05 $2.5B *Waste Management $500M 55Y +45, $500M +7K +60, $1B +10Y +75, $500M 30Y +100