Free Trial
EURUSD TECHS

Channel Top Is Key Resistance

US TSY FUTURES

BLOCK, 2Y Trade

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

US$ Credit Supply Pipeline, Earning Still Sideling Issuers

Expect surge in issuance as stocks work through current earnings cycle.

  • Date $MM Issuer (Priced *, Launch #)
  • 04/27 No new issuance Wednesday;
  • Well off last week's pace only $5.3B Priced Tuesday.
  • 04/26 $1.3B *Anthem Inc $600M 10Y +135, $700M 30Y +170
  • 04/26 $1.2B *Cintas Corp $400M 3Y +75, $800M 10Y +125
  • 04/26 $1B *Kommuninvest 3Y SOFR+25
  • 04/25 $1B *ST Engineering $700M 5Y +68, $300M 10Y +105
  • 04/26 $800M *SVB Fncl $350M 6NC5 +155, $450M 11NC10 +180
  • 04/26 $500M Development Bank of Kazakhstan 3Y investor calls
  • 04/25 $Benchmark American Express investor calls
  • No new issuance Monday
  • 04/25 $Benchmark Cintas Corp investor calls
  • 04/22 No new issuance Friday, $68.65B total for the week

  • $18.05B Priced Thursday
  • 04/21 $8.75B *Bank of America 4pt $2B 3NC2 +115, $500M 3NC2 SOFR+110, $2.25B 6NC5 +140, $4B 11NC10 +165
  • 04/21 $5B *KFW 5Y SOFR+31
  • 04/21 $2.3B *Lockheed Martin $800M 10Y +100, $850M 31Y +125, $650M 40Y +140
  • 04/21 $1B *Development Bank of Japan 5Y SOFR+57
  • 04/21 $1B *PNC Financial perpNC5 6%
  • $18B Priced Wednesday; $50.6 total for week
  • 04/20 $5B *VICI Properties $500M 3Y +160, $1.25B +5Y +190, $1B +7Y +210, $1.5B 10Y +230, $750M 30Y +275
  • 04/20 $4B *CSL Finance $500M 5Y +100, $500M 7Y +120, $1B 10Y +145, $500M 20Y +155, $1B 30Y +185, $500M 40Y +205
  • 04/20 $4B *ADB $3B 3Y SOFR+22, $1B 10Y SOFR+47
  • 04/20 $3.5B *Canada 3Y +9
  • 04/20 $1B *Fifth Third Bancorp $40M 6NC5 +118, $600M 11NC10 +148
  • 04/20 $500M *Jabil 5Y +148
  • $18.85B Priced Tuesday; $32.6B total for week
  • 04/19 $8.5B *JP Morgan 4pt 4NC3 +125, 4NC3 SOFR, 6NC5 +132, 11NC10 +150
  • 04/19 $2.15B *Cargill $500M 3NC1 +80, $500M 5Y +85, $650M 10Y +117, $500M 30Y +140
  • 04/19 $3.5B *Taiwan Semiconductor Mfg (TSMC) 5Y +100, 7Y +120, 10Y +135, 30Y +150
  • 04/19 $2B *Bank of America Perp NC5 6.125%
  • 04/19 $1.7B *BNY Mellon 3Y +55, 3Y FRN, 7Y +90
  • 04/19 $1B *Berkshire Hathaway 31Y +162.5
  • $13.75B Priced Monday
  • 04/18 $7B #Morgan Stanley $2B 3NC2 +118, $500M 3NC2 SOFR+116.5, $2.5B 6NC5 +143, $2B 15NC10+245
  • 04/18 $6.75B #Wells Fargo $2.75B 4NC3 +125, $750M 4NC3 SOFR+132, $3.25B 31NC30 +168
  • $1.75B Priced Wednesday, $61.55 total on week
  • 04/13 $1B *IDB 3Y SOFR+32
  • 04/13 $750M *Viterra Finance $450M 5Y +235a, $300M 10Y +265
  • $1.6B Priced Tuesday, $59.8B total for week
  • 04/12 $600M *John Deere Capital 7Y +65
  • 04/12 $1B *Ferguson Finance $300M 5Y +165, $700M 10Y +200
  • $23.5B Priced Monday, running total for April: $58.2B
  • 04/11 $12.75B *Amazon 7pt: $1.5B 2Y +22, $1.5B 3Y +32, $2B 5Y +55, $1.5B 7Y +65, $2.5B 10Y +85, $2.5B 30Y +115, $1.25B 40Y +130
  • 04/11 $3B *South Africa $1.4B 10Y 5.875%, $1.6B 30Y 7.30%
  • 04/11 $2B *MUFG $500M 4NC3 +112.5, $800M 6NC5 +130, $700M 11NC10 +155
  • 04/11 $2B *TD Bank 5Y SOFR+70
  • 04/11 $1.1B *OMERS Fnc Trust $600M 10Y +75, $500M 30Y +125
  • 04/11 $2B *MUFG $500M 4NC3 +112.5, $800M 6NC5 +130, $700M 11NC10 +155
  • 04/11 $650M *Bayport 5Y +195a, 10Y +235a
  • 04/11 $Benchmark IDB 3Y investor calls
  • 04/11 $Benchmark John Deere Capital investor calls
  • No new issuance on tap Friday after $34.7B total priced on week
  • $16.65B Priced Thursday, $34.7B/wk
  • 07/07 $4B *Royal Bank of Canada $1.4B 3Y +75, $400M 3Y SOFR+84, $1.2B 5Y +95, $1B 10Y +125
  • 04/07 $3B *Freeport Indonesia $750M 5Y +205, $1.5B 10Y +265, $750M 3Y +350
  • 04/07 $3B *Keurig Dr Pepper $1B 7Y +125, $850M 10Y +145, $1.15B 30Y +185
  • 04/07 $2.7B *Take-Two $1B 2Y +85, $600M 3Y +90, $600M 5Y +100, $500M 10Y +135
  • 07/07 $1.75B *Republic of Angola 10Y 8.75%
  • 04/07 $1.5B *JBIC 3Y SOFR+39
  • 07/07 $700M *South32 10Y +175

  • $5.5B Priced Wednesday, $18.05B/wk
  • 04/06 $3B *EIB +3Y SOFR+22
  • 04/06 $1.5B *Ontario Teachers Fnc 5Y SOFR+55
  • 04/06 $500M *Shinhan Bank 10Y NC+185
  • 04/06 $500M *Orix 10Y +145
  • $7.55B Priced Tuesday, $13.05B/wk
  • 04/05 $3.35B #Bank of Nova Scotia 3Y fix/FRN, 15NC10
  • 04/05 $1B *IADB 5Y SOFR+28
  • 04/05 $1.6B #Entergis Escrow Corp 7NC +215
  • 04/05 $600M #Sun Communities 10Y +172
  • 04/05 $500M #JAB Holdings 30Y +200
  • 04/05 $500M #Sammons Fncl 10Y +220
  • $5.5B Priced Monday
  • 04/04 $2.5B *GM Financial $1.1B 3Y +120, $300M 3Y SOFR+130, $1.1B 7Y +180
  • 04/04 $2.5B *Credit Suisse $2.1B 3Y +115, $400M 3Y SOFR+126
  • 04/04 $500M *NY Life 5Y +70
  • 04/01 No new issuance Friday

Total 2021 high-grade corporate US$ issuance at $1.879T 2021 vs. record $2.196T for 2020

Keep reading...Show less
667 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Expect surge in issuance as stocks work through current earnings cycle.

  • Date $MM Issuer (Priced *, Launch #)
  • 04/27 No new issuance Wednesday;
  • Well off last week's pace only $5.3B Priced Tuesday.
  • 04/26 $1.3B *Anthem Inc $600M 10Y +135, $700M 30Y +170
  • 04/26 $1.2B *Cintas Corp $400M 3Y +75, $800M 10Y +125
  • 04/26 $1B *Kommuninvest 3Y SOFR+25
  • 04/25 $1B *ST Engineering $700M 5Y +68, $300M 10Y +105
  • 04/26 $800M *SVB Fncl $350M 6NC5 +155, $450M 11NC10 +180
  • 04/26 $500M Development Bank of Kazakhstan 3Y investor calls
  • 04/25 $Benchmark American Express investor calls
  • No new issuance Monday
  • 04/25 $Benchmark Cintas Corp investor calls
  • 04/22 No new issuance Friday, $68.65B total for the week

  • $18.05B Priced Thursday
  • 04/21 $8.75B *Bank of America 4pt $2B 3NC2 +115, $500M 3NC2 SOFR+110, $2.25B 6NC5 +140, $4B 11NC10 +165
  • 04/21 $5B *KFW 5Y SOFR+31
  • 04/21 $2.3B *Lockheed Martin $800M 10Y +100, $850M 31Y +125, $650M 40Y +140
  • 04/21 $1B *Development Bank of Japan 5Y SOFR+57
  • 04/21 $1B *PNC Financial perpNC5 6%
  • $18B Priced Wednesday; $50.6 total for week
  • 04/20 $5B *VICI Properties $500M 3Y +160, $1.25B +5Y +190, $1B +7Y +210, $1.5B 10Y +230, $750M 30Y +275
  • 04/20 $4B *CSL Finance $500M 5Y +100, $500M 7Y +120, $1B 10Y +145, $500M 20Y +155, $1B 30Y +185, $500M 40Y +205
  • 04/20 $4B *ADB $3B 3Y SOFR+22, $1B 10Y SOFR+47
  • 04/20 $3.5B *Canada 3Y +9
  • 04/20 $1B *Fifth Third Bancorp $40M 6NC5 +118, $600M 11NC10 +148
  • 04/20 $500M *Jabil 5Y +148
  • $18.85B Priced Tuesday; $32.6B total for week
  • 04/19 $8.5B *JP Morgan 4pt 4NC3 +125, 4NC3 SOFR, 6NC5 +132, 11NC10 +150
  • 04/19 $2.15B *Cargill $500M 3NC1 +80, $500M 5Y +85, $650M 10Y +117, $500M 30Y +140
  • 04/19 $3.5B *Taiwan Semiconductor Mfg (TSMC) 5Y +100, 7Y +120, 10Y +135, 30Y +150
  • 04/19 $2B *Bank of America Perp NC5 6.125%
  • 04/19 $1.7B *BNY Mellon 3Y +55, 3Y FRN, 7Y +90
  • 04/19 $1B *Berkshire Hathaway 31Y +162.5
  • $13.75B Priced Monday
  • 04/18 $7B #Morgan Stanley $2B 3NC2 +118, $500M 3NC2 SOFR+116.5, $2.5B 6NC5 +143, $2B 15NC10+245
  • 04/18 $6.75B #Wells Fargo $2.75B 4NC3 +125, $750M 4NC3 SOFR+132, $3.25B 31NC30 +168
  • $1.75B Priced Wednesday, $61.55 total on week
  • 04/13 $1B *IDB 3Y SOFR+32
  • 04/13 $750M *Viterra Finance $450M 5Y +235a, $300M 10Y +265
  • $1.6B Priced Tuesday, $59.8B total for week
  • 04/12 $600M *John Deere Capital 7Y +65
  • 04/12 $1B *Ferguson Finance $300M 5Y +165, $700M 10Y +200
  • $23.5B Priced Monday, running total for April: $58.2B
  • 04/11 $12.75B *Amazon 7pt: $1.5B 2Y +22, $1.5B 3Y +32, $2B 5Y +55, $1.5B 7Y +65, $2.5B 10Y +85, $2.5B 30Y +115, $1.25B 40Y +130
  • 04/11 $3B *South Africa $1.4B 10Y 5.875%, $1.6B 30Y 7.30%
  • 04/11 $2B *MUFG $500M 4NC3 +112.5, $800M 6NC5 +130, $700M 11NC10 +155
  • 04/11 $2B *TD Bank 5Y SOFR+70
  • 04/11 $1.1B *OMERS Fnc Trust $600M 10Y +75, $500M 30Y +125
  • 04/11 $2B *MUFG $500M 4NC3 +112.5, $800M 6NC5 +130, $700M 11NC10 +155
  • 04/11 $650M *Bayport 5Y +195a, 10Y +235a
  • 04/11 $Benchmark IDB 3Y investor calls
  • 04/11 $Benchmark John Deere Capital investor calls
  • No new issuance on tap Friday after $34.7B total priced on week
  • $16.65B Priced Thursday, $34.7B/wk
  • 07/07 $4B *Royal Bank of Canada $1.4B 3Y +75, $400M 3Y SOFR+84, $1.2B 5Y +95, $1B 10Y +125
  • 04/07 $3B *Freeport Indonesia $750M 5Y +205, $1.5B 10Y +265, $750M 3Y +350
  • 04/07 $3B *Keurig Dr Pepper $1B 7Y +125, $850M 10Y +145, $1.15B 30Y +185
  • 04/07 $2.7B *Take-Two $1B 2Y +85, $600M 3Y +90, $600M 5Y +100, $500M 10Y +135
  • 07/07 $1.75B *Republic of Angola 10Y 8.75%
  • 04/07 $1.5B *JBIC 3Y SOFR+39
  • 07/07 $700M *South32 10Y +175

  • $5.5B Priced Wednesday, $18.05B/wk
  • 04/06 $3B *EIB +3Y SOFR+22
  • 04/06 $1.5B *Ontario Teachers Fnc 5Y SOFR+55
  • 04/06 $500M *Shinhan Bank 10Y NC+185
  • 04/06 $500M *Orix 10Y +145
  • $7.55B Priced Tuesday, $13.05B/wk
  • 04/05 $3.35B #Bank of Nova Scotia 3Y fix/FRN, 15NC10
  • 04/05 $1B *IADB 5Y SOFR+28
  • 04/05 $1.6B #Entergis Escrow Corp 7NC +215
  • 04/05 $600M #Sun Communities 10Y +172
  • 04/05 $500M #JAB Holdings 30Y +200
  • 04/05 $500M #Sammons Fncl 10Y +220
  • $5.5B Priced Monday
  • 04/04 $2.5B *GM Financial $1.1B 3Y +120, $300M 3Y SOFR+130, $1.1B 7Y +180
  • 04/04 $2.5B *Credit Suisse $2.1B 3Y +115, $400M 3Y SOFR+126
  • 04/04 $500M *NY Life 5Y +70
  • 04/01 No new issuance Friday

Total 2021 high-grade corporate US$ issuance at $1.879T 2021 vs. record $2.196T for 2020

Keep reading...Show less