US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 4/17 $8B #Morgan Stanley $1.5B 4NC3 +90, $1B 4NC3 SOFR+102, $2.5B 6NC5 +105, $3B 11NC10 +125
• 4/17 $3B *KFW 2Y +16
• 4/17 $2.5B #Province of British Colombia 5Y SOFR+51
• 4/17 $1B #RBC 60NC5 7.5%
• 4/17 $1.25B Jane Street 7NC3 investor calls
• $14.05B Priced Tuesday, $30.75B/wk
• 4/16 $5B *EIB 5Y SOFR+36
• 4/16 $2.25B *Goldman Sachs perpNC5 7.5%
• 4/16 $1.5B *ZF North America $800M 6Y 6.75%, $700M 8Y 6.875%
• 4/16 $1.5B *JFM 5Y SOFR+65
• 4/16 $1.5B *Sunoco $750M 5NC2 7%, $750M 8NC3 7.25%
• 4/16 $1B *MuniFin 3Y SOFR+33
• 4/16 $700M *Johnson Controls 5Y +87.5
• 4/16 $600M *KEB Hana Bank $300M 3Y +70, $300M 5Y +78
• 4/16 $Benchmark Province of Ontario 10Y SOFR+78
• $16.7B Priced Monday
• 4/15 $9B *JP Morgan $2.5B 4NC3 +80, $750M 4NC3 SOFR+92, $2.75B 6NC5 +95, $3B 11NC10 +115
• 4/15 $4.25B *Wells Fargo $3.25B 4NC3 +95, $1B 4NC3 SOFR+107
• 4/15 $2.05B *EDF (Electricite de France) $650M 5Y +105, $650M 10Y +135, $750M 40Y +185
• 4/15 $1.4B *Eversource Energy $700M 7Y +120, $700M 10Y +135
• 4/12 No new US$ Corporate issuance Friday, $25.48B/wk
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• $6.05B Priced Thursday
• 4/11 $2B *RWE $1B 10Y +135, $1B 30Y +160
• 4/11 $1.8B *Transocean $900M 5NC2 8.25%, $900M 7NC3 8.5%
• 4/11 $1.5B *Jefferies 10Y +165
• 4/11 $750M *Blue Owl Finance 10Y +190
• 4/11 $Benchmark KEB Hana Bank 3Y/5Y Investor calls
• 4/11 $Benchmark Ford Otosan 5Y Investor calls
• 4/11 $Benchmark Puma Energy Investor calls
• $3B Priced Wednesday
• 4/10 $1.5B *Rentenbank 5Y SOFR+35
• 4/10 $1B *FHLB 3Y Global +7
• 4/10 $500M *Engie Chile 10Y +225a
• 4/10 $Benchmark Blue Owl Finance investor calls
• $10.68B Priced Tuesday
• 4/9 $5.5B *Diamondback $850M 3Y +65, $850M +5Y +80, $1.3B 10Y +107, $1.5B 30Y +127, $1B 40Y +142
• 4/9 $1.32B *Nippon Life 30NC10 5.95$
• 4/9 $1B *JBIC 10Y SPFR+69
• 4/9 $1B *Public Storage $700M 3Y SOFR+70, $300M 2053 Tap +97
• 4/9 $760M *Aegon 3Y +100
• 4/9 $600M *TD Synnex 10Y +175
• 4/9 $500M *Vistra Operation 10Y +165
• 4/9 $Benchmark Jefferies investor calls
• $5.75B Priced Monday
• 4/8 $2.5B *MUFG $900M 6NC5 +82, $1.6B 11NC10 +100
• 4/8 $1.25B *Nuveen $500M +5Y +115, $750M 10Y +145
• 4/8 $1B *John Deere Capital 10Y +70
• 4/8 $500M *Met Tower Global 5Y +87
• 4/8 $500M *Shinhan Bank 10Y +140
• Investor calls:
• 4/8 $1.25B Endo Finance Holdings 7NC3
• 4/8 $Benchmark Nippon Life 30NC10
• 4/8 $Benchmark Aegon 3Y
• 4/8 $Benchmark RWE 10Y/30Y
• 4/8 $Benchmark Goodman Group
• 4/9 $Benchmark LG Electronics 3Y/5Y
• 4/5 No new US$ issuance Friday, $38.5B priced on week
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• $1.1B Priced Thursday
• 4/4 $600M *Brighthouse Financial Global 3Y +105
• 4/4 $500M *Development Bank of Kazakhstan (DBK) 3Y 5.6% (in conjunction with KZT500B 3Y yielding 13.25%)
• $17.65B Priced Wednesday, $37.4B/wk
• 4/3 $6B *World Bank $3B 2Y +17, $3B 7Y +48
• 4/3 $2B *Engie $750M 5Y +100, $750M 10Y +128, $500M 30Y +148
• 4/3 $2B *Rakuten 5NCL 9.875%
• 4/3 $1.5B *Ontario Teachers Finance 5Y +61
• 4/3 $1.5B *Anglo American Capital $1B 10Y +145, $500M 30Y +160
• 4/3 $1.3B *Rep of Colombia $650M 2035 7.55%, $650M 2053 tap 8.15%
• 4/3 $1.25B *Kingdom of Belgium 30Y +39
• 4/3 $1B *DBJ 5Y SOFR+55
• 4/3 $600M *Nexa 10Y +240
• 4/3 $500M *Mutualk of Omaha 3Y +85
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• $10.45B Priced Tuesday
• 4/2 $4.25B *TotalEnergies Capital $1.25B 10Y +80, $1.75B 30Y +100, $1.25B 40Y +115
• 4/2 $3.5B *Enbridge $750M 3Y +75, $750M 5Y +95, $1.2B 10Y +128, $800M 30Y +145 (3Y SOFR dropped)
• 4/2 $1.2B *MassMutual $850M 3Y +60, $350M 3Y SOFR+74
• 4/2 $1.5B *Amphenol $450M 3Y +57, $450M 5Y +72, $600M 10Y +90
• 4/2 $Benchmark Development Bank of Kazakhstan 3Y investor calls
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• $9.3B Priced Monday
• 4/1 $2.5B *GM Financial $1.25B +5Y +123, $1.25B 10Y +163 (5Y SOFR dropped)
• 4/1 $2B *Adobe $500M 3Y +35, $750M 5Y +50, $750M 10Y +65
• 4/1 $1.2B *Public Service Co of Colorado $450M 10Y +105, $750M 30Y +130
• 4/1 $1.1B *Analog Devices $550M 10Y +75, $550M 30Y +87
• 4/1 $750M *Canadian Imperial Bank (CIBC) 5Y +93
• 4/1 $500M *Arrow Electronics 10Y +155
• 4/1 $1.25B Rakuten 5NCL investor calls

3/28 No new corporate issuance Thursday, Friday closed for Good Friday. Total issuance for March '24 at $186.625B

Total high grade issuance for 2023 at $1.560T - compares to $1.463T total for 2022.