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US$ Credit Supply Pipeline

2021 Starts off with a surge in high-grade debt issuance: $27.5B

  • Date $MM Issuer (Priced *, Launch #)
  • 01/04 $10B #Broadcom $750M 7Y +135, $2.75B 10Y +155, $1.75B 12Y +170, $3B 20Y +185, $1.75B 30Y +210 (last year May 5, AVGO issued $8B: $1B 3Y +200, $2.25B 5Y +280, $2.75B 10Y +350, $2B 12Y +365)
  • 01/04 $3B #Mexico 50Y 3.75%
  • 01/04 $3B #Toronto Dominion (TD) $1.15B 2Y +18, $600M 2Y FRN SOFR+24, $1.25B 5Y +43
  • 01/04 $3B #Home Depot $500M 7Y +35, $1.25B 10Y +52, $1.25B 30Y +77 (last year, Mar 26, HD issued $5B: $750M 7Y+190, $1.5B 10Y+195, $1.25B 20Y+195, $1.5B 30Y+200)
  • 01/04 $2.5B #Sumitomo Mitsui Fncl Grp (SMFG) $500M 3Y +35, $1B 5Y +60, $500M 10Y +80, $500M 20Y +85
  • 01/04 $2B #Metropolitan Life $625M 3Y +25, $625M 3Y FRN SOFR+32, $750M 10Y +68
  • 01/04 $1.5B #John Deere 5Y +37, 10Y +57
  • 01/04 $1.5B #Athene Global Funding $750M 3Y +80, $250M 3Y FRN L+73, $500M 5Y +110a
  • 01/04 $1B *Exp/Imp Bank of India 10Y +145
  • On tap for Tuesday:
  • 01/05 $1B European Inv Bank (EIB) 5Y +7

2020's Record $2.196.5B High-Grade Corporate Issuance Totals
Note, 2020 started off with a bang, jumbo issuance largely from domestic names pushed issuance to $1.4T by the end of June, surpassed 2019 total of $1.156T.

  • Dec $52.24B; $796.54B Second half of 2020
  • Nov $126.83B
  • Oct $111.65B
  • Sep $207.82B
  • Aug $204.5B
  • Jul $93.5B
  • Jun $180.5B; Whopping $1.400T for first half of year,
  • May $270.9B
  • Apr $401.325B* one-month record
  • Mar $275.48B
  • Feb $107.5B
  • Jan $165.18B
USUS$ Credit Supply PipelineMarketsStoryRegionNorth America

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