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US$ Credit Supply Pipeline

  • Date $MM Issuer (Priced *, Launch #)
  • 10/11 $6B *KFW 2Y SOFR+21, 7Y SOFR+49
  • 10/11 $3.5B #Smucker $750M 5Y +130, $1B 10Y +160, $750M 20Y +162.5, $1B 30Y +180
  • 10/11 $1.25B #Nationwide BS 4NC3 +180
  • 10/11 $500M *JBIC WNG 5Y SOFR+59

  • $9.5b Priced Tuesday
  • 10/10 $4B *BPCE $1.1B 4NC3 +185, $300M 4NC3 SOFR+198, $1.25B 6NC5 +210, $1.35B 11NC10 +35
  • 10/10 $4B *Energy Transfer $1B 3Y +130, $500M 5Y +150, $1B 7Y +175, $1.5B 10Y +190
  • 10/10 $1B *Civitas Resources 7NC3 8.625%
  • 10/10 $500M *General Mills WNG 5Y +103
  • 10/06-10/09 No new corporate issuance Friday-Monday

  • $5.06B Priced Thursday, $14.75 total for the week
  • 10/05 $1.25B *Fox Corp 10Y +190
  • 10/05 $1.25B *MuniFin +3Y SOFR+38
  • 10/05 $1B *FFCB 2Y +10 (issued $1B 3Y +15 on Aug 9)
  • 10/05 $900M *Atmos Energy $400M 10Y +120, $500M 30Y +133
  • 10/05 $660M *Uzbekistan 5Y 8.125%
  • $2.25B Priced Wednesday, $9.7B total for the first half of the week
  • 10/04 $1.25B *Kommuninvest +2Y SOFR+31
  • 10/04 $500M *Dominion Energy South Carolina WNG 30Y +140
  • 10/04 $500M *Darden WNG 10Y +165
  • Less than $1B Priced Tuesday
  • 10/03 $750M *Emirates NBD 5Y +120
  • $6.45B Priced Monday
  • 10/02 $1.75B *American Honda $950M 2Y +75, $300M 2Y SOFR+79, $500M 7Y +115
  • 10/02 $1.7B *Diageo $800M 3Y +60, $900M 10Y +100
  • 10/02 $1B *PSEG $600M 5Y +120, $400M 10Y +150
  • 10/02 $500M *Aviation Capital Group 5Y +225
  • 10/02 $500M *Kimco Realty +10Y +178
  • 10/02 $Benchmark Oman Telecom 7Y Sukuk investor calls

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

Sep'23 $165.25B
Aug'23$79.45B
Jul'23$104.075B
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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