January 10, 2025 13:15 GMT
US Credit Supply Pipeline: Record Week in Review
Record high of $130.55B total on week as backlog of December issuance rushed to secure funding this week.
- Date $MM Issuer (Priced *, Launch #)
- $4.5B Priced Thursday
- 01/09 $2B *AIIB WNG 5Y +44
- 01/09 $1.5B *NWB 5Y SOFR+48
- 01/09 $500M *DBJ 10Y SOFR+73a
- 01/09 $500M *Isbank PerpNC5.5 9.125%
- $29.55B Priced Wednesday, $126.05B total for the week
- 01/08 $6B *World Bank 7Y +54
- 01/08 $4.25B *IADB 5Y SOFR+42
- 01/08 $4.15B *HK Airport $1.3B 3.5Y +45, $1.85B 5.5Y +50, $1B 10Y +55
- 01/08 $3B *Ontario 5Y SOFR+58
- 01/08 $2B *Indonesia $900M 5Y 5.3%, $1.1B 10Y 5.65%
- 01/08 $1.75B *Deutsche Bank $1.25B 4NC3 +105, $500M 4NC3 SOFR
- 01/08 $1.5B *Codelco $750M 10Y +165, $750M 30Y +185
- 01/08 $1.5B *Kommunalbanken 5Y +48
- 01/08 $1.5B *CoE Dev Bank 5Y SOFR+42
- 01/08 $1.4B *HF Sinclair $650B 6Y +135, $750M 10Y +162.5
- 01/08 $1.25B *Santander UK 6.25NC5.25 +125
- 01/08 $500M *Northwestern Mutual 5Y +50
- 01/08 $750M *Novelis 5NC2 6.875%
- $36.95B Priced Tuesday, record $96.5B since Monday
- 01/07 $6B *European Investment Bank (EIB) 5Y SOFR+42
- 01/07 $5B *ADB 3Y SOFR+31
- 01/07 $3.55B *BPCE $1.25B 6NC5 +142, $1.5B 11NC10 +162, $800M 21NC20 +195
- 01/07 $3.2B *SMFG $800M 5.25Y +78, $800M 5.25Y SOFR+105, $600M 7Y +88, $1B 10Y +95
- 01/07 $3B *Kexim $850M 3Y +30, $400M 3Y SOFR, $1.25B 5Y +48, $500M 10Y +63
- 01/07 $2.9B *Daimler Tr $700M 3Y+65, $300M 3YSOFR+84, $800M 5Y+82, $500M 7Y+92, $600M 10Y+102
- 01/07 $2B *Santander $1B 5Y +110, $1B 10Y +135
- 01/07 $2B *Dai-Ichi Life PerpNC10 6.2%
- 01/07 $1.6B *Republic of Chile 12Y +105
- 01/07 $1.5B *CIBC 5Y SOFR+71
- 01/07 $1.25B *HPS Corp Lending $750M 3Y +135, $500M +7Y +165
- 01/07 $1B *GA Global Funding $500M 5Y +97, $500M 10Y +127
- 01/07 $1b *Kuwait Finance House (KFH) 5Y SOFR Sukuk +95
- 01/07 $850M *APA Corp $350M 10Y +150, $500M 30Y +185
- 01/07 $600M *Met Tower 3Y +48
- 01/07 $500M *Boston Gas WNG 10Y +115
- 01/07 $500M *Protective Life 7& +85
- 01/07 $500M DBJ WNG 10Y SOFR+73
- Record $59.55B Priced Monday - would have been a record even without $12B Saudi Arabia & $8.5B Mexico multi-tranche issuance
- 01/06 $12B *Saudi Arabia $5B 3Y +85, $3B 6Y +100, $4B 10Y +110
- 01/06 $8.5B *Mexico $2B 5Y +170, $4B 12Y +230, $2.5B 30Y +255
- 01/06 $3B *Broadcom $1.1B +3Y +53, $800M +5Y +63, $1.1B +7Y +70
- 01/06 $3B *CRH SMW Finance $1.25B 5Y +75, $1.25B 10Y +90, $500M 30Y +105
- 01/06 $2.75B *Ntl Australia Bank (NAB) $750M 5Y +50, $750M 5Y SOFR+79, $1.25B 11NC10 +130
- 01/06 $2.6B *Toyota Motor Cr $650M 2Y +35, $400M 2Y SOFR+47, $700M 5Y +58, $850M 10Y +75
- 01/06 $2.5B *SocGen $1B 4.25NC3.25 +120, $500M 4.25NC3.25 SOFR+141, $1B 8.25NC7.25 +160
- 01/06 $2.3B *CIBC $1B 3NC2 +60, $400M 3NC2 SOFR+72, $900M 6NC5 +83
- 01/06 $2.25B *MUFG $1.1B 6NC5 +78, $1.15B 11NC10 +95
- 01/06 $2.25B *BNP Paribas 8NC7 +127
- 01/06 $2B *Hyundai Cap Am $850M 3Y +75, $350M 3Y SOFR+92, $800M 5Y +93
- 01/06 $1.9B *EDF $700M 10Y +120, $800M 30Y +155, $400M 2064 Tap +170
- 01/06 $1.75B *JBS $1B 10Y +135, $750M 30Y +162.5
- 01/06 $1.5B *Southern Cal Edison $850M 10Y +85, $650M 30Y +108
- 01/06 $1.5B *AerCap Aviation $750M 3Y +75, $750M 7Y +98
- 01/06 $1.5B *Williams Cos $1B 10Y +100, $500M 30Y +120
- 01/06 $1.25B *Caterpillar $450M 2Y +25, $350M 2Y SOFR+38, $450M 5Y +42
- 01/06 $1.25B *UBS 3NC2 +60
- 01/06 $1.2B *Jackson National Life $700M 2Y +65, $500M 5Y +95
- 01/06 $1B *India Export-Import Bank 10Y +100
- 01/06 $900M *John Deere Capital 00M $2Y +25, $500M 3Y +35
- 01/06 $800M *Corebridge Funding $500M 3Y +58, 3Y SOFR+75
- 01/06 $750M *Sixth Street Lending 5Y +185
- 01/06 $600M *RGA Global Funding 5Y +85
- 01/06 $500M *Lincoln Financial 5Y +88
- $1B Priced Friday, $15.6B total for the weekb
- 01/03 $500M #MassMutual 5Y +57
- 01/03 $500M #Sammons Financial 3Y +78
- $14.6B Priced Thursday
- 01/02 $3.5B *Credit Agricole $1.25B 4NC3 +95, $500M 4NC3 SOFR+113, $1.75B 11NC10 +130
- 01/02 $2.5B *GM Financial $1.2B 5Y +100, $300M 5Y SOFR+129, $1B 10Y +135
- 01/02 $2.5B *Ford Motor Cr $1.25B -5Y +150, $1.25B 10Y +193
- 01/02 $2.25B *Athene Global $1.1B 2Y +70, $400M 2Y SOFR+83, $750M 5Y +100
- 01/02 $1.1B *Duke Energy $400M 5Y +50, $700M 10Y +72
- 01/02 $1B *Ares Capital +7Y +150
- 01/02 $750M *Entergy Louisiana 30Y +103
- 01/02 $500M *Principle Life Global 3Y +55
- 01/02 $500M *MetLife Global 5Y +57
** $43.15B Total issuance for December 2024 - better than December 2023 total of $28.1B.
** $1.957T total for 2024 -- highest since 2020 record $2.197T
| Dec'24 | $43.15B; $264.545B Q4; $1.957T total for 2024 -- highest since 2020 record $2.197T |
| Nov'24 | $94.95B |
| Oct'24 | $126.445B |
| Sep'24 | $224.75B total; $513.125B Q3 |
| Aug'24 | $137.475B |
| Jul'24 | $150.9B |
| Jun'24 | $122.875B; $443.055B Q2 |
| May'24 | $160.85B |
| Apr'24 | $159.33B total for the month |
| Mar'24 | $186.625B; $736.175B Q1 |
| 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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