Free Trial

US$ Credit Supply Pipeline

Limited corporate bond issuance for the week at $3.7B. August finished with a robust $168.5B for month, compares to $97.12B in 2021.

  • Date $MM Issuer (Priced *, Launch #)
  • 09/01 $1B *OKB WNG 5Y SOFR+42

  • $2.7B Priced Wednesday; $168.5B for month
  • 08/31 $1.45B *Korea Development Bank (KDB) $1B 3Y +60, $450M 10Y +115
  • 08/31 $1.25B *Nordic Investment Bank 5Y SOFR+36
  • 08/30 $Benchmark Korea Development Bank (KDB) investment calls
  • 08/29 No new issuance Monday

  • 08/25-08/26 No new issuance Thu-Fri, $6.85B total for week
  • $2.25B Priced Wednesday
  • 08/24 $1.25B *Swedish Export Cr Corp (SEK) 2Y SOFR+20
  • 08/24 $1B *FFCB 2Y +8
  • $4.6B Priced Tuesday
  • 08/23 $4B *EIB 5Y Sustainability Awareness bond SOFR+38
  • 08/23 $600M *MassMutual 3Y +83
  • 08/22 No new issuance Monday

  • 08/19 No new issuance Friday, $35.5B total for week

  • $6.25B Priced Thursday
  • 08/18 $2.5B *Credit Suisse $1.25B 2Y +155, 2Y SOFR, $1.25B 5Y +205
  • 08/18 $1.5B *Synchrony Bank $900M 3Y +220, $600M 5Y +260
  • 08/18 $1.25B *MetLife $750M 3Y +83, $500M 7Y +135
  • 08/18 $500M *Entergy Louisiana 30Y Green +162.5
  • 08/18 $500M *Comerica 11NC10 +245
  • $5.25B Priced Wednesday, $29.25B/wk
  • 08/17 $3.25B *Export Development Bank of Canada 3Y SOFR+33
  • 08/17 $1B *BNG Bank WNG 2Y SOFR+21
  • 08/17 $1B *MuniFin WNG 5Y SOFR+52
  • 08/17 $Benchmark Entergy investor calls
  • $16.25B Priced Tuesday, $24B/wk
  • 08/16 $4.5B *ADB 5Y SOFR+40
  • 08/16 $3B *KFW WNG 2Y SOFR+13
  • 08/16 $2.5B *Goldman Sachs 6NC5 +152
  • 08/16 $2B *Eaton Corp $1.3B +10Y +135, $700M 30Y +162.5
  • 08/16 $1.75B *Ford 10Y Green 6.1%
  • 08/16 $1.25B *CCDJ $750M 3Y +125, $500M 5Y +160
  • 08/16 $1.25B *PNC Financial PerpNC5 6.2%
  • $7.75B Priced Monday
  • 08/15 $3B *Amgen $1.25B 7Y +120, $750M +10Y +140, $1B +30Y +175
  • 08/15 $2.25B *Rabobank $1B 2Y +70, 2Y SOFR, $1.25B 6NC5 +175
  • 08/15 $750M *Toyota Motor Cr 3Y +55, upsized from $500M
  • 08/15 $500M *Ameren Illinois 10Y +108
  • 08/15 $1.25B *Royal Caribbean 5NC2, 11.62%
  • 08/15 $Bemchmark Eaton investment calls
  • 08/12 No new issuance Friday, $32.75B total high-grade debt issued on wk
  • $4.25B Priced Thursday
  • 08/11 $3.5B *Santander $1.75B 3Y +195, $1.75B 5Y +230
  • 08/11 $750M *Fairfax Financial 10Y +275
  • $1.35B Priced Wednesday, $28.5B/wk
  • 08/10 $700M *Texas Instruments $400M WNG 10Y +90, $300M 30Y +110
  • 08/10 $650M *Kimco 10Y +190
  • $3B Priced Tuesday, $27.15B total on wk
  • 08/09 $1B *Alabama Power $550M 5Y +80, $450M 10Y +115
  • 08/09 $1B *Dominion Energy $400M 10Y +165, $600M 30Y +190
  • 08/09 $500M *AIIB 5Y SOFR+62
  • 08/09 $500M *M&T Bank 6NC5 +158
  • $24.15B Priced Monday
  • 08/08 $6.25B *Credit Suisse $1.5B 4NC3 +325, $1.75B 6NC5 +355, $3B 11NC10 +380
  • 08/08 $3.2B *Duke Energy $900M +5Y +142, $1.15M 10Y +177, $1.15M 30Y +202
  • 08/08 $2.5B *Global Payments $500M 5Y +205, $500M 7Y +245, $750M 10Y +265, $750M 30Y +295
  • 08/08 $2B *Wells Fargo 4NC3 +140
  • 08/08 $2B *BNP Paribas PerpNC7 7.75%
  • 08/08 $1.8B *Mexico 2033 +235
  • 08/08 $1.5B *Caterpillar $800M 3Y +55, $700M 5Y +70
  • 08/08 $1.2B *Prudential 30NC10 6.0%
  • 08/08 $1B *MPLX 10Y +225
  • 08/08 $1B *Sherwin-Williams $600M 2Y +85, $400M 3Y +110
  • 08/08 $600M *Ford Motor 40NC5 par prfd 6.5%
  • 08/08 $600M *Wisconsin Power & Light WNG 10Y +160a
  • 08/08 $500M *Becton Dickenson WNG 10Y +153
  • 08/05 No new US$ issuance Friday, first week of August finished with $90.6B total
  • $22.3B Priced Thursday
  • 08/04 $10B *Meta Platforms $2.75B 5Y +75, $3B 10Y +115, $2.75B 30Y +145, $1.5B 40Y +165
  • 08/04 $4.75B *HSBC $2.25B 6NC5 +245, $2.5B 11NC10 +275
  • 08/04 $2.5B *Lloyds Banking Grp $1.25B each: 4NC3 +175, 11NC10 +230
  • 08/04 $1.25B *Benchmark Standard Chartered perpNC5.5 7.5%
  • 08/04 $1.5B *Charter 7NC3 6.375%
  • 08/04 $800M *Citizens Bank 6NC5 +180
  • 08/04 $750M *Waste Connections +10Y +153 upsized from $500M
  • 08/04 $750M *Ashtead 10Y +295
  • $6.55B Priced Wednesday
  • 08/03 $2B *KeyBank $1.25B 3Y +112.5, $750M 10Y +220
  • 08/03 $1.75B *Williams Co $1B 10Y +195, $750M 30Y +235
  • 08/03 $1.3B *DTE Energy WNG 2Y +112.5
  • 08/03 $1B *Westpac 11NC10 +268
  • 08/03 $500M *Guatemala 7Y 5.45%
  • 08/03 $Benchmark Meta Platforms investor calls
  • $16.7B Priced Tuesday, total $32.05B/wk
  • 08/02 $6B *Intel $1.25B 5Y +90, $850M 7Y +120, $1.25B 10Y +140, $1.75B 30Y +185, $900M 40Y +200 (last time Intel issued: $5B in September 2021)
  • 08/02 $4.25B *Barclays $1.5B 4NC3 +230, $1.75B 6NC5 +265, $1B 11NC10 +300
  • 08/02 $1.65B *Macquarie Bank $800M 4NC3 +210, $850M 11.25NC10.25 +275
  • 08/02 $1.5B *Canadian National Railway $800M 10Y +115, $700M 30Y +140
  • 08/02 $1.5B *NextEra Energy WNG 2Y +105
  • 08/02 $800M *Brooklyn Union Gas $400M each 5Y +177, 10Y +212
  • 08/02 $500M *ANZ Bank10NC5 +270
  • 08/02 $500M *Moody's WNG 10Y +158
  • $15.35B Priced Monday
  • 08/01 $5.5B *Apple $1B 7Y +63, $1.5B 10Y +78, $1.75B 30Y +105, $1.25B 40Y +118
  • 08/01 $5B *UBS $1.75B 3NC2 +160, $1.75B 5NC4 +205, $1.5B 11NC10 +240
  • 08/01 $1.5B *Colgate-Palmolive $500M each: 3Y +30, 5Y +45, 10Y +75
  • 08/01 $800M *Consumers Energy WNG $350M 10Y +100, $450M 30Y +125
  • 08/01 $750M *Huntington Bancshares 6NC5 +177
  • 08/01 $750M *State Street Corp 11NC10 +155
  • 08/01 $650M *NY Life 3Y +78
  • 08/01 $400M *Edison International 3Y +190

Total 2021 high-grade corporate US$ issuance at $1.879T 2021 vs. record $2.196T for 2020

Aug'22$168.5B
Jul'22$100.6B
Jun'22$80.85B
May'22$103.225B
Apr'22$175.2B
Mar'22$258.425B (Highest since May 2020)
Feb'22$92.62B
Jan'22$203.26B
Dec'21$62.2B vs. $52.24B Dec'20 total; Q4 total $344.875B; $782.51B H2 2021
Nov'21$133.875B
Oct'21$148.8B
Sep'21$215.635B; Q3 total $437.64B
Aug'21$97.12B
Jul'21$124.885B
Jun'21$136.35B; Q2 total $478.875B
May'21$159.125B
Apr'21$183.4B
Mar'21$232.62B; Q1 total $618.03B
Feb'21$157.86B
Jan'21$227.55B
2020 Recap:Record $2.196T
Dec'20$52.24B; $796.54B H2 2020
Nov'20$126.83B
Oct'20$111.65B
Sep'20$207.82B
Aug'20$204.50B
Jul'20$93.50B
Jun'20$180.50B; Record $1.40T H2 2020
May'20$270.90B
Apr'20$401.32B
Mar'20$275.48B
Feb'20$107.50B
Jan'20$165.18B

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.