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Market News Topics
February 07, 2024 18:38 GMT
US$ Credit Supply Pipeline
$6.5B Eli Lilly 5Pt leads Wednesday high-grade corporate debt issuance.
At least $12.5B to price Wednesday, still waiting on Dow Chemicals launch
- Date $MM Issuer (Priced *, Launch #
- 2/7 $6.5B Eli Lilly $1B 3Y +30, $1B 5Y +45, $1.5B 10Y +60, $1.5B 30Y +70, $1.5B 40Y +77 (for comparison, Eli Lilly issued $4B on Feb 23 last year: $750M 3NC1 +65, $1B 10Y +85, $1.25B 30Y +100, $1B 40Y +115)
- 2/7 $2.5B #Rogers Communications $1.25B 5Y +100, $1.25B 10Y +130
- 2/7 $1B #Constellation Software $500M 5Y +110, $500M 10Y +135
- 2/7 $1B *Inter-American Inv Bank (IDB) 5Y SOFR+51
- 2/7 $1B #UBS WNG Perp NC7.2 7.75%
- 2/7 $500M #NEDC 5Y Sukuk +160
- 2/7 $Benchmark Dow Chemical 10Y +105, 30Y +130
- 2/7 $500M Turkiye Wealth Fund WNG 5Y 9.125%a
- $25.9B Priced Tuesday, $43.625B/wk
- 2/6 $5.5B *Citigroup $3B 6NC5 +115, $2.5B 11NC10 +175
- 2/6 $4B *EIB 10Y SOFR+50
- 2/6 $3.5B *Export Development Canada 5Y SOFR+41
- 2/6 $3B *KDB 3Y $1.75B SOFR+66, $1.25B 5Y SOFR+78
- 2/6 $2.5B *Air Products $750M 5Y +60, $600M 7Y +70, $1.15B 10Y +80
- 2/6 $2B *Bahrain $1B 7Y Sukuk 6.0%, $1B 12Y 7.5%
- 2/6 $2B *Land NRW 3Y SOFR+35
- 2/6 $1.5B *Couche-Tard $900M 10Y +118, $600M 30Y +130
- 2/6 $750M #Rep of Benin 14Y 8.375%
- 2/6 $650M Swedbank PNC6.5 Reg S AT1 7.75%
- 2/6 $500M *CNA Financial 10Y +120
- $17.725B Priced Monday
- 2/5 $4.5B *Cigna $1B +5Y +90, $750M +7Y +100, $1.25B 10Y +110, $1.5B 30Y +125
- 2/5 $3B *Texas Instruments $650M 3Y+35, $650M 5Y+50, $100M 0Y+70, $750M 30Y+85, $350M 39Y+92
- 2/5 $2.55B *GM Financial $1.2B 3Y +115, $350M 3Y SOFR+135, $1B 7Y +165
- 2/5 $2B *Starbucks $1B 3Y +60, $500M 7Y +80, $500M 10Y +90
- 2/5 $1.5B *ERAC Finance $750M 5Y +90, $750M +10Y +105
- 2/5 $1.5B *Morgan Stanley 15NC10 +180
- 2/5 $1.175B *Becton Dickinson $625M 5Y +75, $550M 10Y +95
- 2/5 $1B *Deutsche Bank 4NC3 +145
- 2/5 $500M *Cencora WNG 10Y +98
- 2/5 $Benchmark Paraguay 7Y 8%a, 12Y 6.25%a
- 2/2 No new US$ corporate issuance Friday after $1B priced Thursday.
- $1B Priced Thursday
- 2/1 $1B *Alexandria Real Estate $400M 12Y +140, $600M 30Y +150
- 2/1 $Benchmark Korean Development Bank (KDB) 3Y, 5Y investor calls
- 2/1 $Benchmark Republic of Benin 14Y investor calls
- 2/1 $500M Allied Universal Holdco 7NC3 investor calls
1/31 No new US$ high grade supply Wednesday. Total $295.35B for Jan'24, highest since April 2020.
Total high grade issuance for 2023 at $1.560T - compares to $1.463T total for 2022.
| Jan'24 | $295.35B, highest since April 2020 |
| Dec'23 | $28.1B; $1.560T total of 2023 vs. $1.463T for 2022 |
| Nov'23 | $131.7B |
| Oct'23 | $108.3B |
| Sep'23 | $165.25B; $348.775B Q3 |
| Aug'23 | $79.45B |
| Jul'23 | $104.075B |
| Jun'23 | $113.195B; $403.605B Q2 |
| May'23 | $168.22B |
| Apr'23 | $122.19B |
| Mar'23 | $122.05B; $540.175B Q1 |
| Feb'23 | $186.7B |
| Jan'23 | $231.425B |
| Dec'22 | $7.75B; $1.463T total for 2022 vs. $1.879T in 2021 |
| 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 ; $1.879T total for 2021 vs. Record $2.197T total for 2020 |
| 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 $2.197T total for 2020 |
| Dec'20 | $52.24B |
| Nov'20 | $126.83B |
| Oct'20 | $111.65B |
| Sep'20 | $207.82B |
| Aug'20 | $204.50B |
| Jul'20 | $93.50B |
| Jun'20 | $180.50B |
| May'20 | $270.90B |
| Apr'20 | $401.32B |
| Mar'20 | $275.48B |
| Feb'20 | $107.50B |
| Jan'20 | $165.18B |
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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