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US$ Credit Supply Pipeline

  • Date $MM Issuer (Priced *, Launch #)
  • 07/05 $Benchmark IFC 5Y SOFR+35a
  • 07/05 $Benchmark Nomura 5Y +210a, 10Y +240a
  • 07/05 $Benchmark BFCM 3Y +130, 3Y SOFR+140, 5Y +155
  • 07/05 $Benchmark American Honda 3Y +70, 3Y SOFR, 5Y +90
  • 07/05 $Benchmark Shinhan Financial 5Y investor calls
  • 06/30 No new issuance Friday, total June high grade issuance at $113.195B

  • $2.5B Priced Thursday, $23.67B/wk
  • 06/29 $2.5B *Mizuho $1.4B 6NC5 +165, $1.1B 11NC10 +190
  • $3.5B Priced Wednesday
  • 06/28 $2.5B *Standard Chartered $1B 4NC3 +185, $500M 4NC3 SOFR+193, $1B 11NC10 +258
  • 06/28 $500M *Corebridge Global 3Y +145
  • 06/28 $500M *Paraguay 10Y 5.85%
  • $11B Priced Tuesday
  • 06/27 $3B *IADB 3Y SOFR+24
  • 06/27 $2.5B *Credit Agricole $1.25B 3Y +120, $500M 3Y SOFR+129, $750M 10Y +175
  • 06/27 $2.25B *British Columbia 10Y SOFR+70
  • 06/27 $2.25B #Rep of Chile $1.15B +12Y +123, $1.1B +30Y +148
  • 06/27 $500M *Korea Gas 5Y +88
  • 06/27 $500M *Mitsubishi 5Y +100

  • $6.67B Priced Monday
  • 06/26 $2B *Prologis $750M 5Y +105, $750M +10Y +145, $500M 30Y tap +160
  • 06/26 $1.5B *ANZ $1B 2Y +65, $500M 2Y SOFR+75
  • 06/26 $1.25B *Petrobras Global Finance 10Y 6.625%
  • 06/26 $600M *NongHyup Bank 5Y +98
  • 06/26 $720M *Viking Cruises 8NC3 9.125%
  • 06/26 $600M *Hyatt 3.5Y +145
  • 06/26 $Benchmark Mitsubishi 5Y notes investor calls
  • 06/23 No new high-grade corporate debt issuance Friday, $18.65B priced on the week
  • $5.8B Priced Thursday
  • 06/22 $4.25B *Nasdaq $500M 2Y +90, $1B 5Y +135, $1.25B +10Y +175, $750M 30Y +210, $750M 40Y +225
  • 06/22 $1B *BBVA Mexico 15NC10 8.45%
  • 06/22 $550M *COSAN Luxembourg 2030 note, 7.5%

  • $5.75B Priced Wednesday
  • 06/21 $3B *Hyundai Capital AM $750M 2Y +115, $750M 3Y +145, $1B 5Y +178, $500M 7Y +188
  • 06/21 $2B *Export Development Canada 3Y SOFR+25
  • 06/21 $750M *Element Fleet 3Y +200
  • 06/21 $Benchmark Bank of Montreal 5Y SOFR+92a (issuance/pricing timing uncertain)

  • $7.1B Priced Tuesday
  • 06/20 $1.85B #General Motors $1.35B 5Y +185, $500M 10Y Tap +235
  • 06/20 $1.5B #Barclays 11NC10 +340
  • 06/20 $1.25B #Sempra Energy $550M 3Y +123, $700M 10Y +180
  • 06/20 $1B #CBRE Services 11Y +245
  • 06/20 $1B #Federal Farm Credit Bank 3Y +10
  • 06/20 $500M #Inversiones CMPC WNG 10Y +240
  • 06/20 $2.7B Civitas investor calls, $1.35B each: 5NC2, 8NC3
  • 06/20 $Benchmark Nasdaq filing to issue US$ & Euro-denominated debt to fund Adenza acquisition
  • 06/16 No new issuance Friday after only $8.675B total priced on the week
  • $1.075B Priced Thursdaya
  • 06/15 $575M *Peco Energy WNG 10Y +150a
  • 06/15 $500M *Bank of China NY 3Y +45

  • 06/14 $Benchmark issuance on hold ahead FOMC, $7.6B Priced Mon-Tue

  • $850M Priced Tuesday
  • 06/13 $850M *Duke Energy $350M 2033 tap+130, $500M +30Y +150
  • $6.75B Priced Monday
  • 06/12 $2.75B *Intesa Sanpaolo $1.25B 10Y +290, $1.5B 31NC30 +390
  • 06/12 $2B *HSBC 11NC10 +280
  • 06/12 $1B *Cox Communications $500M +5Y +155, $500M 10Y +197
  • 06/12 $500M *Aviation Capital Grp 7Y +273
  • 06/12 $500M *Global Atlantic 10Y +450
  • 06/09 No new issuance Friday; $57.95B total on week

  • $4.95B Priced Thursday
  • 06/08 $2.2B #Handelsbanken $700M 3Y +112.5, $500M 3Y SOFR+125, $1B 5Y +175
  • 06/08 $1.25B #NatWest 6.25NC5.25 +195
  • 06/08 $1B #Finnerva PLC WNG 2028 SOFR+47
  • 06/08 $500M #Santander 6NC5 +285a
  • ?? 06/08 $1B Kommuninvest WNG 2Y SOFR+29

  • $16.55B Priced Wednesday; $53B/wk
  • 06/07 $3.5B *US Bancorp $1.75B 6NC5 +185, $1.75B 11NC10 +205
  • 06/07 $3.5B *PNC Financial $1B 3NC2 +127, $2.5B 6NC5 +167
  • 06/07 $1.5B *National Grid $700M 5Y +167, $800M 10Y +202
  • 06/07 $1.5B *Aker BP $500M 5Y +170, $1B 10Y +225
  • 06/07 $1.5B *Vale Overseas 10Y +245
  • 06/07 $1.25B *Swedbank 3Y +125, $400M 3Y SOFR+138
  • 06/07 $1B *McKesson Corp $400M 5Y +102, $600M 10Y +140
  • 06/07 $1B *Swedish Export Credit 5Y SOFR+53
  • 06/07 $650M *ASB Bank 3Y +115
  • 06/07 $600M *Mass Mutual 5Y +115
  • 06/07 $550M *Brookfield Capital 10Y +230
  • $14B Priced Tuesday, $36.45B/wk
  • 06/06 $4B *ADB {Asian Development Bank) $2B 2Y SOFR+23, $2B 10Y SOFR+49
  • 06/06 $2.5B *NAB (National Australia Bank) $850M 2Y +70, $650M 2Y SOFR+76, $1B 5Y +110
  • 06/06 $1.5B *Bacardi Ltd $400M +5Y +140, $700M 10Y +175, $400M 20Y +190
  • 06/06 $1.4B *Cheniere Energy 10Y +228
  • 06/06 $1.25B *RENTEN (Landwirtschaftliche Rentenbank) 5Y SOFR+35
  • 06/06 $1B *Guatemala 2036 bond 6.6%
  • 06/06 $1B *MuniFin 2027 SOFR+45
  • 06/06 $750M *New York Life 5Y +107
  • 06/06 $600M *Fortune Brands 10Y +220
  • $22.45B Priced Monday
  • 06/05 $3.5B *Capital One $1.75B 6NC5 +248, $1.75B 11NC10 +268
  • 06/05 $3.25B *Truist Financial $1.5B 4NC3 +193, $1.75B 11NC10 +218
  • 06/05 $2.5B *Deere Capital $600M 2Y +50, $600M 3Y +65, $300M 3Y SOFR+79, $1B 7Y +95
  • 06/05 $2.25B *Bank of Nova Scotia $1.1B 2Y +100, $400M $2Y SOFR+109, $750M 5Y +147
  • 06/05 $1.75B *Macquarie $700M 3Y +110, $300M 3Y SOFR+124, $750M 11NC10 +220
  • 06/05 $1.75B *Ford Motor Cr $900M 3Y 6.95%, $850M 7Y 7.2%
  • 06/05 $1.6B *Burlington Northern 30Y +130
  • 06/05 $1.5B *BNP Paribas 6NC5 +150
  • 06/05 $1.5B *Dollar General $500M 5Y +137, $1B 10Y +177
  • 06/05 $1.35B *ANZ Bank 3Y SOFR+73
  • 06/05 $800M *HP Enterprise $250M 2024 Tap +105, $550M 5Y +145
  • 06/05 $700M *Northwestern Mutual 5Y +107

  • $4.25B Priced Thursday, no new issuance Friday.
  • 06/01 $2.5B #Pacific Gas & Electric $850M +5Y +240, $1.15B 10Y +280, $500M 30Y +315
  • 06/01 $1.75B #CIBC 5Y SOFR+92

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

Jun'23$113.195B
May'23$168.22B
Apr'23$122.19B
Mar'23$122.05B
Feb'23$186.7B
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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