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US$ Credit Supply Pipeline

  • $2.5B to price Monday
  • Date $MM Issuer (Priced *, Launch #)
  • 12/11 $1B #National Bank of Canada 5Y +137.5
  • 12/11 $750M Community Health Systems 8NC3
  • 12/11 $750M #Ally Financial 6NC5 +260
  • 12/08 No new high grade corporate issuance Friday, $24.175 total on week
  • $1.6B Priced Thursday
  • 12/07 $1B *Republic Services $350M 2029 tap +75, $650M 10Y +95
  • 12/07 $600M *Athene 10Y +200
  • $4B Priced Wednesday
  • 12/06 $2B *RBC 3Y SOFR+53
  • 12/06 $1B *America Electric Power (AEP) 5Y +112.5
  • 12/06 $Benchmark Athene investor calls
  • $9.375B Priced Tuesday
  • 12/05 $3.75B *JP Morgan 3Y +78, 3Y SOFR+100
  • 12/05 $1.5B *IADB 3Y SOFR+35
  • 12/05 $1.5B *Bank of Montreal $1.15B 3Y +93, $350M 3Y SOFR+116
  • 12/05 $750M *Corebridge Financial 10Y +160
  • 12/05 $750M *Cantor Fitzgerald 5Y +310
  • 12/05 $600M *Stryker Corp 5Y +73
  • 12/05 $525M *Protective Life 5Y +132
  • $9.2B Priced Monday
  • 12/04 $3B #GM $1.5B 5Y +160, $1.5B 5Y SOFR, 10Y +185
  • 12/04 $2.75B #Wells Fargo $2.25B 3Y +85, $500M 3Y SOFR+107
  • 12/04 $1.5B #Crown Castle $750M +5Y +1143, $750M +10Y +153
  • 12/04 $750M NextEra Energy 5NC
  • 12/04 $700M Univision Comm 8% 5Y tap
  • 12/04 $500M #TD Bank WNG 3Y +85

No new issuance since Wednesday, total November 2023 issuance $131.7B

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

Nov'23$131.7B
Oct'23$108.3B
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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