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Free AccessUS$ Credit Supply Pipeline
Total for the month of March (including foreign corporate and supra sovereigns) is over $186.625B - compares to March '23 of $122.05B.
Pace of corporate bond issuance is slowed into month end. Total for the month of March (including foreign corporate and supra sovereigns) is over $186.625B - compares to March '23 of $122.05B.
- Date $MM Issuer (Priced *, Launch #)
- 3/28 No new corporate issuance Thursday, Friday closed for Good Friday. Total issuance for March '24 at $186.625B
- $3.15B Priced Wednesday, $34.3B/wk
- 3/27 $1.2B *New York Life $600M 3Y +55, $600M 3Y SOFR+67
- 3/27 $750M *Swiss Re 11NC10 +150
- 3/27 $700M *Blue Owl Tech 5Y +285
- 3/27 $500M *St Marys Cement Inc Canada 10Y +170
- $20.1B Priced Tuesday
- 3/26 $4B *Glencore Funding $800M 3Y +95, $350M 3Y SOFR+106, $1.1B 5Y +115, $1.25B 10Y +140, $500M 30Y +150
- 3/26 $3.75B *Quebec 5Y SOFR+50
- 3/26 $2.75B *Smurfit Kappa $750M +5Y +100, $1B 10Y +120, $1B 30Y +137.5
- 3/26 $2.25B *TD Bank $850M 3Y +60, $500M 3Y SOFR+73, $900M 5Y +78
- 3/26 $1.5B *SMBC Aviation Capital $650M 5Y +108, $850M 10Y +135
- 3/26 $1.25B *CSL $600M 10Y +87, $600M 30Y +102
- 3/26 $1.2B #Marathon Oil $600M 5Y +112, $600M 10Y +147
- 3/26 $1.15B *Algonquin Power WNG 2Y +150a
- 3/26 $1B *AIA 10Y +125
- 3/26 $750M *CQB (The Commercial Bank, Qatar) 5Y +5.375%
- 3/26 $500M *Yapi Kredi PerpNC5.25 9.75%
- $11.05B Priced Monday
- 3/25 $3.25B *BMW US Capital $600M 2Y +45, $700M 2Y SOFR+55, $650M 3Y +55, $800M 5Y +70, $500M 10Y +90 (the last time BMW issued debt was on August 8 '23, $3B total: $800M 2Y +55, $600M 2Y SOFR+62, $1B 5Y +95, $600M 10Y +115)
- 3/25 $1.4B *KNOC (Korean National Oil) $500M 3Y + 70, $300M 3Y SOFR+83, $600M 5Y +80
- 3/25 $1.25B *LSEG (London Stock Exchange) $500M 3Y +65, $750M 10Y +105
- 3/25 $1.25B *PSEG (Public Service Enterprise Grp) $750M 5Y +100, $500M 10Y +122
- 3/25 $750M *Sammons Financial 10Y +265
- 3/25 $750M *MGM Resorts 8NC3 6.5%
- 3/25 $700M AMC Networks 4.75NC1.75
- 3/25 $700M *Esab Corp 5NC2 6.25%
- 3/25 $500M *Union Electric WNG 10Y +98
- 3/25 $500M *Penske 5Y +112
- $4.75B Priced Friday, $33.45B total on week
- 3/22 $3B *Truist Insurance 7NC3 7.125%
- 3/22 $1B *Hilton Worldwide $550M 5NC2 5.875%, $450M 8NC3 6.125%
- 3/22 $750M *Bombardier 7NC3 7.287%
- 3/22 $Benchmark Old Republic investor calls
- $3.9B Priced Thursday, $28.7B/wk
- 3/21 $1.4B *Athene $1B 3Y +110, $400M 3Y SOFR+121
- 3/21 $1B *Ryman Hospitality 8NC3 6.5%
- 3/21 $1B *AIB Group 11NC10 +160
- 3/21 $500M *Narragansett Electric 10Y +108
- 3/20 No new US$ corporate issuance Wednesday due to FOMC
- $17.9B Priced Tuesday
- 3/19 $6B *United Health $500M 3Y +37, $400M 5Y +52, $1B 7Y +70, $1.25B 10Y +80, $1.75B 30Y +95, $1.1B 40Y +107
- 3/19 $4.8B BAE $800M 3Y +68, $1.25B 5Y +90, $500M 7Y +98, $1.5B 10Y +108, $750M 30Y +118
- 3/19 $2.5B *Campbell Soup $400M 2Y +65, $500M 3Y +75, $600M 5Y +90, $1B 10Y +115
- 3/19 $1B *Macquarie Airfinance $500M 5Y +210, $500M 7Y +223
- 3/19 $1B *Anheuser-Busch InBev10.25Y +75
- 3/19 $1B *Fairfax Financial 30Y +192
- 3/19 $1B *Athene 30Y +185
- 3/19 $600M *CNH Ind Capital 5Y +98
- $6.9B Priced
- 3/18 $2.25B *Toyota Motor Cr $900M 3Y +52, $450M 3Y SOFR+65, $900M 7Y +75
- 3/18 $1.1B *AGCO $400MN 3Y +95, $700M 10Y +150
- 3/18 $1B *SocGen PerpNC10.5 8.5%
- 3/18 $650M *Apollo Debt Solutions 5Y +270
- 3/18 $650M *Cimic Group 10Y +275
- 3/18 $650M *Northwestern Mutual 3Y +55
- 3/18 $600M *San Diego Gas & Electric 30Y +115
- 3/15 No new US$ issuance Friday, $45.65B total priced on week
- $5.75B Priced Thursday
- 3/14 $4B *VW Group $850M 2Y +75, $650M 2Y SOFR+83, $1B 3Y +85, $1B 5Y +105, $500M 10Y +138
- 3/14 $1.7B *Hyundai $800M 3Y +90, $400M 3Y SOFR+104, $500M 5Y +108
- $6.5B Priced Wednesday, $40.95B/wk
- 3/13 $1.5B *Dexia 3Y SOFR+40
- 3/13 $1B *State Street Corp 3Y +60
- 3/13 $1B *Bank of Ireland 6NC5 +142
- 3/13 $1B *Kommunivest WNG 2Y +27
- 3/13 $1B *Nordea Bank $500M 3Y +62, $500M 3Y SOFR+74
- 3/13 $1B *Smith & Nephew $350M 3Y +80, $650M 10Y +125
- $5.65B Priced Tuesday
- 3/12 $3B *Goldman Sachs $2.25B 3NC2 +68, $750M 3NC2 SOFR+77
- 3/12 $900M *Constellation Energy 30Y +145
- 3/12 $500M *Avic Int 3Y +87.5
- 3/12 $500M *Southern California Gas WNG 30Y +133
- 3/12 $750M *Global Atlantic 30Y +250
- $28.8B Priced Monday
- 3/11 $8B *Republic of Poland $1.5B 5Y +70, $3B +10Y +105a, $3.5B 30Y +130
- 3/11 $4B *Santander $1.1B 4NC3 +125, $400M 4NC3 SOFR+138, $1.25B 6NC5 +145, $1.25B 10Y +225
- 3/11 $3.5B *ANZ $1.25B 2Y +47, $1.25B 2Y SOFR+56, $1B 10.5NC5.5 +165
- 3/11 $3B *ING $1.5B 6NC5 +125, $1.5B 11NC10 +145
- 3/11 $2.25B *Humana $1.25B 7Y +127, $1B 30Y +147
- 3/11 $2.25B *L3Harris $750M 5Y +100, $750M 7Y +115, $750M 10Y +135
- 3/11 $1.75B *AM Honda $700M 3Y +63, $300M 3Y SOFR+77, $750M 5Y +80
- 3/11 $1.3B *Motorola Solutions $400M 5Y +95, $900M 10Y +130
- 3/11 $850M *M&T Bank 8NC7 +198
- 3/11 $750M *Banco do Brazil 7Y 6.3%
- 3/11 $650M *NiSource 10Y +128
- 3/11 $500M *Duke Energy WNG 10Y +100
- 03/08 No new US$ issuance Friday, $73.225B/wk
- $9.3B Priced Thursday
- 3/7 $2.5B *Bank of NY Mellon $500M 2NC1 SOFR+45, $1B 6NC5 +90, $1B 11NC10 +110
- 3/7 $2B *CaixaBank 1B 6NC5 +160, $1B 11.25NC10.25 +195
- 3/7 $1.1B *United Rentals 10NC5 6.125%
- 3/7 $1.05B *Vici Properties $550M 10Y +175, $500M 30Y +200
- 3/7 $750M *Alcoa 7NC3 7.5%a
- 3/7 $750M *Swedbank 5Y +133
- 3/7 $500M *Station Casinos 8NC3 6.625%
- 3/7 $650M *Indianapolis Power & Light WNG 30Y +147
- $8.5B Priced Wednesday, $64.925B/wk
- 3/6 $5B *KFW (Kreditanstalt fuer Wiederaufbau) 3Y SOFR+26
- 3/6 $1.25B *AIIB (Asian Infrastructure Bank) 10Y SOFR+61
- 3/6 $1B *Prudential Financial 30NC10 6.5%
- 3/6 $750M *State of Montenegro 7Y 7.25%
- 3/6 $500M *AES Andes 5Y +220
- $34.5B Priced Tuesday
- 3/5 $8B *State of Israel $2B 5Y +135, $3B 10Y +145, $3B 30Y +175
- 3/5 $4.5B #Barclays $1.25B 4NC3 +135, $500M 4NC3 SOFR+149, $2B 6NC5 +155, $750M 31NC30 +175
- 3/5 $4B *EIB 3Y SOFR+26
- 3/5 $3B *Blackrock Funding $500M 5Y +60, $1B 10Y +87.5, $1.5B 30Y +105
- 3/5 $2.5B *Nestle $600M 5Y +55, $450M 7Y +65, $800M 10Y +75, $650M 30Y+85
- 3/5 $2.5B *Ford Motor Credit $1.6B 5Y +168, $900M 10Y +200
- 3/5 $2.5B *JPMorgan PerpNC5 6.875%
- 3/5 $2B *BBVA $1B 5Y +125, $1B 11NC10 +190
- 3/5 $1.5B *Cheniere Energy 10Y +153
- 3/5 $1B *Microchip 5Y +95
- 3/5 $1B *EBRD 10Y SOFR +53
- 3/5 $1B *Al Rajhi Bank 5Y Sukuk +90
- 3/5 $500M *Doha Bank WNG 5Y +130
- 3/5 $500M *Hormel WNG 3Y +50
- 3/5 $Benchmark Goldman Sachs investor calls
- $21.925B Priced Monday
- 3/4 $3.875B *Roche $875B 5Y +58, $750M 7Y +68, $1.25B 10Y +77, $1B 30Y +87
- 3/4 $3B *Keurig $750M 3Y +75, $350M 3Y SOFR+88, $750M 5Y +90, $500M 7Y +100, $650M 10Y +110
- 3/4 $2.6B *John Deere $450M 2Y +37.5, $750M 2Y SOFR+44, $550M 3Y +50, $850M 7Y +70
- 3/4 $2.35B *Credit Agricole $1B 3Y +75, $600M 3Y SOFR+87, $750M 10Y +115
- 3/4 $2B *Newmont Corp $1B 2Y +70, $1B 10Y +117
- 3/4 $1.3B *American Tower $650M 5Y +107, $650M 10Y +132
- 3/4 $1.25B *CBA (Commonwealth Bank of Australia) 10Y +162
- 3/4 $1.2B *Entergy Louisiana $500M 10Y +115, $700M 30Y +1353/4 $1B *Chubb 10Y +82
- 3/4 $1B *Dell International 10Y +120
- 3/4 $750M *Element Fleet 3Y +125
- 3/4 $600M *Sixth St Lending Partners 5Y +255
- 3/4 $1B *USA Compression Partners 5NC2 7.125%
Total high grade issuance for 2023 at $1.560T - compares to $1.463T total for 2022.
Feb'24 | $254.2B |
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 |
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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.