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Free AccessMNI: PBOC Net Injects CN11 Bln Via OMOs Wednesday
MNI: PBOC Yuan Parity Higher At 7.0821 Wednesday; -6.10% Y/Y
US$ Credit Supply Pipeline
Total $37.45B high-grade corporate (domestic, foreign) US$ bond issuance priced Tuesday, Intel's $11B 7pt jumbo largest of the year so far, surpassing Saudi Arabia's $10B jumbo from Jan 10. After a slow start, February issuance up to $61.1B already.
- Date $MM Issuer (Priced *, Launch #)
- 02/08 $2B *Korea Development Bank (KDB) ($1B) 5Y +60, $1B 10Y +80
- 02/08 $1.25B #Waste Management $1.75B 7Y +90, $500M 10Y +100
- 02/08 $1B *IDB Invest 5Y SOFR+59
- 02/08 $500M #Synovus Bank 5Y +185
- 02/08 $750M American Airlines 5NC2 7.25%
- 02/08 $Benchmark Westpac NZ 5Y investor calls
- Reverse Yankee issuance:
- 02/08 *GM Financial EU750M 6Y +140, GBP400M 3.5y +195
- May issue Thursday
- 02/09 $Benchmark AFD (French Development Agency) 3Y SOFR+44
- $37.45B Priced Tuesday
- 02/07 $11B *Intel $1.5B 3Y +75, $1.75B 5Y +105, $1.25B 7Y +135, $2.25B 10Y +155, $1B 20Y +175, $2B 30Y +195, $1.25B 40Y +215
- 02/07 $5.5B *PIF (sovereign wealth fund) $1.75B 7Y +115, $2B 12Y +145, $1.75B 30Y +185
- 02/07 $5B *EIB 10Y SOFR+48
- 02/07 $5B *World Bank (IBRD) 7Y SOFR +47
- 02/07 $3.5B *Export Development bank Canada (EDC) 5Y SOFR+39
- 02/07 $2B *CDP Financial 3Y +58
- 02/07 $1.75B *Swedish Export Bank (SEK) 7Y SOFR +46
- 02/07 $1.5B *Starbucks $1B 3Y +68, $500M 10Y +115
- 02/07 $1.2B *Vodafone $700M 30Y +195, $500M 40Y +210
- 02/07 $1B *Comcast WNG 10Y +100
- $12.5B Priced Monday
- 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
- 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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