US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 09/12 $Benchmark Slovenia 10Y +100a
• 09/12 $Benchmark CADES 3Y SOFR+34
• 09/12 $Benchmark Nissan Motor 3Y +260a, 5Y +290a
• 09/12 $500M Inter-American Investment Corp (IDB) WNG 5Y SOFR +54
• $16.2B Priced Monday
• 09/11 $2.1B *Veralto $700M 3Y +80, $700M 5Y +95, $700M 10Y +120
• 09/11 $2B *Export Bank of Korea (KEXIM) $500M 2Y +45, $1B 5Y +75, $500M 10Y +95
• 09/11 $2B *T-Mobile USA $1B 10Y +148, $1B 30Y +163
• 09/11 $1.75B *ABN AMRO $1.25B 4NC3 +165, $500M 4NC3 SOFR+178
• 09/11 $1B *Banco Bilbao Vizcaya Argentaria PerpNC6 variable 9.375%
• 09/11 $1B *US Foods $500M 5NC2 6.875%, $500M 8.3NC3 7.25%
• 09/11 $1B *Marvell $500M +5Y +140, $00M +10Y +175
• 09/11 $850M *Santos 10Y +265
• 09/11 $750M *Maersk 10Y +165
• 09/11 $600M *Mohawk Industries 5Y +145
• 09/11 $560M *Trinidad and Tobago +7Y +170
• 09/11 $500M *Bank of China Dubai 3Y SOFR+60
• 09/11 $500M *Nevada Power WNG +30Y +163
• 09/11 $500M *Southern Co Gas 10Y +148
• 09/11 $500M *Macquarie Airfinance 5.5NC2 8.125%
• 09/08 No new issuance Friday after $68.73B priced between Tuesday-Thursday.
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• $8.35B Priced Thursday
• 09/07 $3B *European Stability Mechanism (ESM) 3Y SOFR+28
• 09/07 $2B *Gilead $1B 10Y +100, $1B 30Y +120
• 09/07 $1.25B *Swedish Export Credit 3Y SOFR+41
• 09/07 $850M *Nordson $350M 5Y +122, $500M 10Y +157
• 09/07 $750M *Standard & Poor's Financial 10Y +100
• 09/07 $500M *Lennox WNG 5Y +112.5
• 09/07 $Benchmark Slovenia 10Y bond investor calls
• $20.53B Priced Wednesday, $60.38B/wk
• 09/06 $4.5B *Barclays $1.45B 4NC3 +175, $300M 4NC3 SOFR+188, $1.25B 6NC5 +205, $1.5B 11NC10 +240
• 09/06 $2B *IADB 10Y SOFR+48
• 09/06 $2B *CaixaBank $1B 4NC3 +195, $1B 11NC10 +255
• 09/06 $2B *AIIB (Asian Infrastructure Investment Bank) 3Y SOFR+41
• 09/06 $1.75B *TD Bank 5Y SOFR+92
• 09/06 $1.75B *Toyota Motor Cr $600M 2Y +58, $400M 2Y SOFR+65, $750M 5Y +85
• 09/06 $1.6B *Marsh & McLennan $600M 10Y +115, $1B 30Y +135
• 09/06 $1.5B *Nestle Holdings $500M each: 5Y +57, 7Y +67, 10Y +77
• 09/06 $1B *Nordic Investment Bank WNG +2Y SOFR+19
• 09/06 $1B *AIB Group 6NC5 +217
• 09/06 $930M *Nippon Life 30NC10 6.25%
• 09/06 $500M *Yapi Kredi 5Y 9.375%
• $39.85B Priced Tuesday, largest placement in approximately two years
• 09/05 $4.75B *BHP Billiton $850M 3Y +65, $700M 5Y +85, $900M 7Y +100, $1.5B 10Y +110, $800M 30Y +125
• 09/05 $3.4B *Volkswagen $800M 2Y +85, $50M 2Y SOFR+93, $900M 3Y +105, $700M 5Y +130, $500M 10Y +165
• 09/05 $3.25B *CBA (Comm. Bank of Australia) $900M 2Y +55, $600M 2Y SOFR+63, $1.75B 5Y SOFR+92
• 09/05 $3B *UBS $1B 2Y +85, $500M 2Y SOFR+93, $1.5B 5Y +128
• 09/05 $3B *ING 4NC3 +142, 4NC3 SOFR+156, 11NC10 +185
• 09/05 $2.5B *JBS $1.6B 10Y +250, $900M 30Y +290
• 09/05 $2.35B *Philip Morris $650M 5Y +105, $700M 7Y +135, $1B 10Y +160
• 09/05 $2B *Codelco $1.3B +10Y +170, $700M 30Y +195
• 09/05 $2B *SMFG Sumitomo Mitsui Fncl GRP $1.1B 5Y +135, $900M 10Y +155
• 09/05 $1.9B *John Deere $350M 2Y +37.5, $550M 3Y +52, $1B 10Y +90
• 09/05 $1.5B *DBS $750M 2Y +53, $750M 2Y SOFR+61
• 09/05 $1.5B *Unilever $700M 5Y +55, $800M 10Y +85
• 09/05 $1.5B *Sumitomo Mitsui Trust $500M each: 3Y +100, 3Y SOFR+115, 5Y +122
• 09/05 $1.35B *MidAmerican Energy $350M 10Y +110, $1B 31Y +147
• 09/05 $1.35B *Duke Energy $600M 10Y +150, $750M 30Y +173
• 09/05 $1.3B *Southern Co $600M +5Y +113, $700M +10Y +148
• 09/05 $1B *Swedbank 3Y +148
• 09/05 $600M *CSX 10Y +95
• 09/05 $600M *WEC Energy 3Y +93
• 09/05 $500M *Mitsubishi WNG 5Y +143
• 09/05 $600M *Metropolitan Life Global 5Y +105

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