US$ Credit Supply Pipeline

First full week of December see $39.9B high-grade debt issued, $62.2B for month of December

• Date $MM Issuer (Priced *, Launch #)
• 12/10 No new issuance Friday, $39.9B total on week
• $1.1B Priced Thursday,
• 12/09 $600M *NextEra Energy Capital WNG 60NC5 3.8%
• 12/09 $500M *Qorvo WNG 3NC1 +85
• $5.25B Priced Wednesday
• 12/08 $2.5B *NextEra Energy Capital $1B 5Y +62, $1B 10Y +92, $500M 30Y +112
• 12/08 $1.25B *Rabobank 6NC5 +73
• 12/08 $500M *Toronto-Dominion Bank (TD) WNG 3Y +33
• 12/08 $500M *Athene +30Y +157
• 12/08 $500M *Standard Ind 4.375% 2030 Tap +99.375
• $16.15B Priced Tuesday
• 12/07 $8B *Merck 5pt, $1.5B 5Y +45, $1B 7Y +50, $2B 10Y +70, $2B 30Y +95 and $1.5B 40Y +110
• 12/07 $3B *Emerson Electric $1B 7Y +80, $1B 10Y +95, $1B 30Y +120
• 12/07 $2.75BB *JP Morgan $2.35B 4NC3 fix/FRN +60, $400M 4NC3 FRN/SOFR +60
• 12/07 $1B *Western Digital $500M 7Y +145, $00M 10Y +165
• 12/07 $800M *GLP Capital 10Y +185
• 12/07 $600M *GA Global Funding 2Y +60
• $17.4B Priced Monday
• 12/06 $6B *Roche $2B 7Y +55, $2B 10Y +65, $2B 30Y +85
• 12/06 $2.5B *EcoLab Inc 2NC1 +30, 5Y +45, 10Y +70, 30Y +95
• 12/06 $2.25B *Dell Int $1B 20Y +155, $1.25B 30Y +170
• 12/06 $2B *ABN AMRO $1B 8NC7 +110, $1B 15NC10 +190
• 12/06 $1.4B *DirectTV 5.875% 2027 Tap +101.75 (upsized from $1B)
• 12/06 $1.25B *Baker Hughes $650M 2Y +60, $600M 2Y FRN/SOFR, 5Y +85
• 12/06 $1B *Newmont Corp 10Y +90
• 12/06 $500M *Banco de Chile WNG 10Y +185
• 12/06 $500M *WEC Energy 7Y +85
• 12/03 No new issuance Friday; $22.3B December running total
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• $8.25B Priced Thursday
• 12/02 $6B *Daimler Trucks 8Pt: $500M 1.5Y FRN/SOFR+50, $1B 2Y +62.5, $350M 2Y FRN/SOFR+60, $1B 3Y +75, $400M 3Y FRN/SOFR+75, $1.25B 5Y +90, $750M 7Y +105, $750M 10Y +115
• 12/02 $1.75B *Capital One $1.4B 3NC2 fix/FRN +72, $350M 3NC2 FRN+69
• 12/02 $500M *Olympus WNG 5Y +93
• $14.05B Priced Wednesday
• 12/01 $3.25B *Goldman Sachs 2NC1 fix/FRN +65, 2NC1 FRN/SOFR+62, 1.948% 2027 tap +90
• 12/01 $3B *T-Mobile $500M +7Y +105, $1B +10Y +130, $1.5B 2052 3.4% tap +165
• 12/01 $2B *Bank of America 4NC3 Green +67
• 12/01 $1.25B *Sysco $450M 10Y +105, $800M 30Y +140
• 12/01 $1B *Blackrock +10Y +90a
• 12/01 $750M *Marsh & McLennan $400M 10Y +95, $350M 30Y +112.5
• 12/01 $1B *Danaher 30Y +105
• 12/01 $750M *KKR 30Y +147
• 12/01 $550M *So-California Edison WNG 1Y FRN/SOFR+47
• 12/01 $500M *Pricoa Global Funding 3Y +33

March still leads 2021 with stellar $232.62B high-grade corporate issuance vs. $275.48B for Mar 2020. Sep 2021 comes in third place so far this year with $215.63B, beating Sep'20 total of $207.82B. Q3'21 total $437.64B vs. Q3'20 total $505.82B