February 06, 2023 19:36 GMT
US$ Credit Supply Pipeline
$12.5B Corporate Bond Issuance Monday
- Date $MM Issuer (Priced *, Launch #)
- 02/06 $4B #Nextera $1.25B 5Y +110, $600M 7Y +125, $1B 10Y +140, $1.15B 30Y +155
- 02/06 $3B #T-Mobile $1B 5Y +118, $1.25B +10Y +143, $750M 30Y tap +165a
- 02/06 $2B #Northrop Grumman $1B 10Y +108, $1B 30Y +128
- 02/06 $1.5B #Deutsche Bank 11NC10 +345
- 02/06 $1.2B #Micron Technology 7Y tap +210a, 10Y +225a
- 02/06 $800M #Becton Dickinson 5Y +188
- 02/06 $Benchmark Comcast investor calls
- 02/06 $Benchmark Intel investor calls
- Expected Tuesday:
- 02/07 $Benchmark Export Development bank Canada (EDC) 5Y SOFR+41a
- 02/07 $Benchmark Swedish Export Bank (SEK) 7Y SOFR +48a
- 02/07 $Benchmark World Bank (IBRD) 7Y SOFR +49a
- 02/07 $Benchmark CDP Fncl 3Y +60a
- 02/07 $Benchmark EIB 10Y SOFR+50a
- 02/07 $1.25B Alliant Holdings 5NC2
- Chatter for new supply in near future:
- 02/-- $Benchmark OPT Bank (Hungary)
- 02/03 No new issuance Friday, $11.15B total first two days of February
- $10.45B Priced Thursday
- 02/02 $5.25B *Oracle $750M 5Y +110, $750M 7Y +130, $1.5B 10Y +155, $2.25B 30Y +203
- 02/02 $1.6B *MPLX $1.1B 10Y +170, $500M 30Y +212.5
- 02/02 $1.5B *PNC Financial PerpNC7 6.25%
- 02/02 $1.1B *National Rural Utilities $600M 3Y +70, $200M tap 5Y +95, $300M tap 10Y +123
- 02/02 $1B *Alexandria Real Estate $500M 12Y +137.5, $500M 30Y +160
- Muted Wednesday supply
- 02/01 $700M *Dominican Rep 8Y 7.0%
January kicked off 2023 with total of $231.425B high-grade corporate issuance, highest since March '22.
Total 2022 high-grade corporate US$ issuance at $1.284T, well off $1.879T in 2021 and record $2.196T for 2020
| Jan'23 | $231.425B |
| Dec'22 | $7.75B; $1.294T total for 2022 |
| Nov'22 | $115.9B |
| Oct'22 | $51.85B |
| Sep'22 | $105.25B; $1.287T through Q3 |
| Aug'22 | $168.5B |
| Jul'22 | $100.6B |
| Jun'22 | $80.85B; $913.58B first half of 2022 |
| 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 |
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