US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 7/31 No new US$ issuance Wednesday, $25.05B from Mon-Tue, $150.9B total for August, nearly twice August 2023 issuance of $79.45B, and more in-line with August 2022 total of $168.5B.
• $8.35B Priced Tuesday
• 7/30 $4B *Citibank $1.5B 2Y +57, $1B 2Y SOFR+70, $1.5B 5Y +80
• 7/30 $1.8B *Netflix $1B 10Y +80, $800M 30Y +100
• 7/30 $1.2B *GLP Capital $800M 10Y +160, $400M 30Y +190
• 7/30 $750M *Synchrony Financial 6NC5 +190
• 7/30 $600M *Omnicom +10Y +120
• $16.7B Priced Monday
• 7/29 $3.5B *Mercedes Benz $750M 2Y +50, $750M 2Y SOFR+63, $700M 3Y +60, $850M 5Y +77, $450M 10Y +100
• 7/29 $3.5B *Honeywell $1.15B 3Y +45, $1B +5Y +65, $650M +7Y +70, $700M Tap 03/01/35 +80
• 7/29 $2B *Royal Caribbean 8.5NC3 6%
• 7/29 $1.5B *Santander PerpNC10 8%
• 7/29 $1.4B *Guatemala $600M 7Y 6.05%, $800M 12.5Y 6.55%
• 7/29 $1.3B *Chubb $700M 5Y +60, $600M 10Y +78
• 7/29 $1.2B *DTE Energy 3Y +80
• 7/29 $700M *Consumers Energy +5Y +68
• 7/29 $600M *L3Harris 30Y +115
• 7/29 $500M *Moody's Corp 10Y +92
• 7/29 $500M *Eastman Chemical 5Y +100
• 7/26 No new US$ issuance Friday, $31.85B total on week
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• 7/25 $1B *IADB 5Y SOFR+37
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• $5.45B Priced Wednesday, $30.85B/wk
• 7/24 $2B *Capital One 6NC5 $1B +130, $1B 11NC10 +160
• 7/24 $1.85B *Whistler Pipeline $400M $5Y +125, $500M 7Y +150, $825M 10Y +170
• 7/24 $1B *Export Development Canada 4Y SOFR+33
• 7/24 $600M *Empresa Del Petroleo 10Y +187
• $18.5B Priced Tuesday
• 7/23 $12B *United Health $650M 2Y +35, $500M 2Y FRN+50, $1.25B 5Y +65, $1.5B 7Y +80, $2B 10Y +90, $1.5B 20Y +100, $2.75B 30Y +115, $1.85B 40Y +13
• 7/23 $5B *Occidental Petroleum $600M 3Y +75, $1.2B 5Y +105, $1B 7Y +120, $1.2B 10Y +135, $1B 30Y +160
• 7/23 $1.5B *Citigroup PerpNC10 7%
• $6.9B Priced Monday
• 7/22 $3.4B *American Express $1.2B 4NC3 +75, $500M 4NC3 SOFR+93, $1.7B 11NC10 +103
• 7/22 $1.25B *Kinder Morgan $500M 5Y +95, $750M 30Y +150
• 7/22 $1B *Nationwide BS 5Y +95
• 7/22 $750M *Ally Financial 11NC10 +192
• 7/22 $500M *Korea Hydro & Nuclear Power 5Y +70
• 7/19 No new US$ issuance Friday after $51.25B total priced on week
• $7.1B Priced Thursday
• 7/18 $2.5B *PNC Financial $1B 3NC2 +65, $1.5B 11NC10 +122
• 7/18 $1.25B *Citizens Financial 8NC7 +160
• 7/18 $1.25B *US Bancorp 6NC5 +100
• 7/18 $1.1B *Prologis $700M 10Y +95, $400M 2054 Tap +110
• 7/18 $1B *Abu Dhabi Future Energy Co $500M 5Y +95, $500M 10Y +115
• $18.55B Priced Wednesday
• 7/17 $8B *Morgan Stanley $1.5B 4NC3 +77, $1B 4NC3 SOFR+94, $2.25B 6NC5 +97, $3.25B 11NC10 +117
• 7/17 $3B *Greensaif Pipelines $1.4B 12Y +170, $1.6B 18Y +195
• 7/17 $2.7B *World Bank (IBRD) $2B 3Y SOFR+27, $700M 2031 Tap SOFR+45
• 7/17 $2.5B *Blackrock Funding $800M 3Y +40, $500M +10Y +80, $1.2B +30Y +100
• 7/17 $850M *State Street PerpNC5 6.7%
• 7/17 $1Y *Gvt of Hong Kong 3Y 12
• 7/17 $500M *Mitsubishi 5.25Y +110
• $7.5B Priced Tuesday
• 7/16 $5.5B *Goldman Sachs $2.5B 6NC5 +97, $3B 11NC10 +117
• 7/16 $2B *Wells Fargo PerpNC5 6.85%
• 7/16 $Benchmark Mitsubishi 5.25Y investor calls
• 7/16 $Benchmark Gvt of Hong Kong investor calls
• $18.1B Priced Monday
• 7/15 $9B *JP Morgan $2B 4NC3 +75, $750M 4NC3 SOFR+93, $2.75B 6NC5 +87, $3.5B 11NC10 +107
• 7/15 $3.25B *RBC $1.25B 3NC2 +63, $700M 3NC2 SOFR+79, $1.3B 6NC5 +85
• 7/15 $2.5B *Bank of NY Mellon $600M 4NC3 +65, $300M 4NC3 SOFR+83, $1.1B 8NC7 +90, $500M 15NC10 +138
• 7/15 $2.25B *PepsiCo $850M 5Y +40, $650M 10Y +60, $750M 30Y +80
• 7/15 $600M *NongHyup Bank $300M 3Y SOFR+80, $300M 5Y +68
• 7/15 $500M *Aircastle 7Y +165
• 7/11-7/12 No new US$ corporate debt issuance Thursday-Friday, $30.25B total on week
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• $7.75B Priced Wednesday
• 7/10 $6B *Saudi Aramco $2B each: 10Y +105, 30Y +145, 40Y +155
• 7/10 $1.25B *Banque Federative du Credit Mutuel (BFCM) $750M 3.5Y +80, $500M 3.5Y SOFR+107
• 7/10 $500M *Mitsubishi 10Y +93
• $8B Priced Tuesday
• 7/9 $2.5B *IADB 10Y SOFR+56
• 7/9 $1.75B *Turkiye 8Y 7.3%
• 7/9 $1.5B *JBIC 3Y SOFR+44
• 7/9 $1B *CCB HK 3Y SOFR+55
• 7/9 $750M *Bank of Montreal 60NC10 7.3%
• 7/8 $500M *Panasonic 10Y +100
• 7/9 $Benchmark TD Bank 3Y SOFR+63a
• $14.5B Priced Monday
• 7/8 $5B *Broadcom $1.25B 3Y +65, $2.25B 5Y +85, $1.5B 7Y +95
• 7/8 $3.75B *Santander 4NC3 +95, 4NC3 SOFR+112, 7Y +120
• 7/8 $2B *ANZ $750M 3Y +50, $1.25B 3Y SOFR+68
• 7/8 $1.75B *American Honda $700M 3Y +55, $300M 3Y SOFR+71, $750M 7Y +83
• 7/8 $1B *Athene $500M 3Y +95, $500M 7Y +130 (3Y SOFR leg dropped)
• 7/8 $1B *Kraton 3Y +85
• 7/3-7/5 No new issuance Wednesday through Friday, $12.5B total issued on wk
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• $9B Priced Tuesday,
• 7/2 $4.5B *Sumitomo Mitsui Bank (SMBC) $750M 5Y +93, $500M 5Y SOFR+117, $900M 7Y +103, $1.35B 10Y +113, $1B 20Y +113
• 7/2 $4B *EIB 7Y SOFR+46
• 7/5 $500M *ANZ Bank WNG 10NC5 +150
• July kicked off with $3.5B debt offering
• 7/1 $3.5B *BGK $1.75B 10Y +140, $1.75B 30Y +165

6/28 No new US$ debt issuance Friday, $39.1B total priced on week