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US$ High-Grade Credit Supply Pipeline - Apr 5, 2018

Waiting for GM and BMW multi-tranche issuance to price
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
04/05 $2.5B #GM Financial, $500M 3Y FRN +85, $1B 3Y fix +112, $1B 7Y +160
04/05 $3.5B #BMW US Capital, $1.75B 3y Fxd/FRN, $1B 5y Fxd, $750M 10y
04/05 $2.5B *Salesforce, $1B 5Y +62.5, $1.5B 10Y +87.5
04/05 $350M *NWB Mining FRN 2019 Tap 3mL +1
04/05 $500M *BNG Mining 4Y FRN 3ML +7a
-
$2.05B priced Wednesday
04/04 $1.25B *Societe Generale PerpNC10 1.675%
04/04 $800M *Aegon 30NC10 Tier 2 Fixed to FRN 5.75%
-
$8.975B priced Tuesday
04/03 $6.05B *General Mills Inc., potential 8-tranche issuance:
      $600M 3Y Fxd +80, $850M 3Y FRN +54
      $850M Long 5Y Fxd +115, $400M 5Y FRN +101
      $800M 7Y +130
      $1.4B 10Y +145
      $500M 20Y +155
      $650M 30Y +170
04/03 $2.5B *Charter Communications $800M 20Y +245, $1.7B 30Y +275
04/03 $425M *Union Electric Co WNG 30Y FMB IPT +100
-
$500M Priced Monday
04/02 $500M *Securian Financial Group 30Y IPT +185
-
03/26 $500M *Allstate $500M, $250M 3Y FRN 3ML +43, $250M 5Y FRN 3ML +63
03/26 $500M *Dollar General Corp 10Y +130
03/26 $1.5B *ABB Finance $300M 2Y +55, $450M 5Y +75, $750M 10Y +95
03/26 $750M *Citizens Bank $500M 5Y +110, $250M 5Y FRN L+95
03/26 $600M *Centerpoint Energy Resources WNG 5Y +97, 10Y +117
03/26 $Benchmark KfW 3Y IPT MS +1A
03/26 $Benchmark Bell Canada Inc 30Y IPT +160A
-
No new corporate supply Friday
-
$6.2B priced Thursday
03/22 $750M *Abu Dhabi Commercial Bank PJSC ADCB 5Y MS +130
03/22 $1.5B *Baidu USD 5.5Y/10Y Bonds, IPT +140bp/+180bp
03/22 $1.3B *Assurant Inc. 3NC1 FRN, 5.5Y, 10Y, 30NC10 Sub
03/22 $1B *Prudential Financial; 10Y +105, 30Y +135
03/22 $600M *Mississippi Power 2y FRN L+75, 10Y +125A
03/22 $1.05B *Cequel Communications $1.05b 10NC5 Sr
- 
Small issuance Wednesday
03/21 $500M *Nordic Investment Bank Min. 2Y IPT MS -6
-
$13.85B Priced Tuesday, AB/INBEV lead
03/20 $10B *Annheuser-Busch INBEV, details:
  $1.5B 5Y fix +90, $500M 5Y FRN L+74, 
  $2.5B 10Y +125, $1.5B 20Y +135, 
  $2.5B 30Y +150 and $1.5B 40Y +165
03/20 $750M *Entergy Louisiana LLC 15Y IPT +115
03/20 $700M *Virginia Electric & Power Co 10Y IPT +95
03/20 $500M *MetLife PerpNC10 Pref IPT 5.875%
03/20 $1B *Kommunalbanken (KBN) 2Y; IPT MS -1
03/20 $400M *Ohio Power Co 30Y IPT +115a
-
$10.85B Priced Mon, HSBC late
03/19 $4B *HSBC Holdings USD AT1 $2.25B PerpNC5 6.25, $1.75 PerpNC10 6.50%
03/19 $500M *Connecticut Light & Power WNG 30Y FMB +93
03/19 $2.5B *AIG $750M 10Y +140, $1B 30Y +170, $750M 30NC10 Sub 5.75%a
03/19 $2.1B *Unilever Cap $400M 3Y, $550M 5Y, $350M 7Y, $800M 10Y
03/19 $1.75B *Macquarie Grp USD $1.25B 6NC5 fix/FRN, $500M 11NC10 +180
-
$4B Priced Friday, appr $25.9B/week
03/16 $4B *Russia $1.5B 11Y, $2.5B 2047 Tap
-
$1.8B Priced Thursday
03/15 $1.5B #Lloyds Banking Group Plc 10Y +160
03/15 $300M #AvalonBay Communities Inc 30Y +130
03/15 $Benchmark Nissan Motor Acceptance Corp. 3Y Fxd +85a, 3Y FRN L equiv, 5Y
+95-100
-
$3.5B Priced Wednesday
03/14 $2B *African Development Bank 3Y MS-1
03/14 $1.5B *McDonalds, $500M 5Y +75, $500M 10Y +100, $500M Tap of 4.45% +140
-
$3.47B Priced Tuesday
03/13 $3.25B *Asian Development Bank (ADB) 5Y +9
03/13 $220M *Idaho Power 30Y +110
-
$13.1B priced Monday
03/12 $5.3B *Campbell 7-tranche, details:
      $500M 2Y FRN L+50
      $350M 3Y fix, +90, $400M 3Y FRN L+63
      $1.2B 5Y +105, $850M 7Y +120, $1.2B 5Y +105, $1B 10Y +130, $700M 30Y +170,
03/12 $2.25B *Commonwealth Bank of Australia (CBA) 5Y fix and/or FRN, 10Y fix
03/12 $1.75B *Standard Chartered Plc $1.25B 6NC5 +125, $500M 15NC10 +200
03/12 $1.15B *Caterpillar $450M 3Y fix +50, $450M FRN L+23, $250M Tap of CAT
3.25 +78
03/12 $650M *Fifth Third Bancorp 10Y +110
03/12 $500M *Toyota Ind, $500M 5Y +60, $500M 10Y +70
03/12 $1.5B *Valeant Pharmaceuticals, 8NC4 Sr notes
-
No new supply issued Friday
-
$9.45B priced Thursday
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
03/08 $2.35B *Bank of America Perpnc 10 fix-FRN 5.875%
03/08 $1.5B *John Deere Capital $400M 3Y fix+48/+500M FRN +24/$600M 7Y +67
03/08 $1.25B *Province of Alberta Canada, 10Y +45
03/08 $1B *Transcontinental Gas Pipeline $400M 10Y +120, $600M 30Y +150
03/08 $1B *Export Dvlp Canada 5Y +10
03/08 $1B *Sysco $500M 7Y +85, $500M 30Y +135
03/08 $500M *Kommunalbanken FRN 3/2021 Tap L+4
03/08 $550M *Edison Int 10Y +128
03/08 $300M *Apollo Management hldngs WNG 30Y +200a
-
$2.05B Priced Wednesday
03/07 $1.25B *Swedish Export Credit 5Y +18
03/07 $800M *Hyundai Capital Am, $550m 3Y fix, $250M 3Y FRN
-
$41.5B total priced Tuesday
03/06 $40B *CVS 9-tranche details
* $1B 2yr FRN L+63
* $2B 2yr +90
* $1B 3yr FRN L+72
* $3B 3yr +95
* $6B 5yr +125
* $5B 7yr +145
* $9B 10yr +160
* $5B 20yr +180
* $8B 30yr +195
03/06 $1.5B *Oesterreichische Kontrollbank AG (OKB) 5Y +15
-
$2B Priced Monday
03/05 $1B *Korea Development Bank (KDB) $500M 3Y FRN L+55, 5Y fix +85
03/05 $1B *Tennessee Valley Auth, 2Y WNG +11
-
No New Issuance Fri, $34.75B priced On Wk vs. $12.3B prior Wk
- 
Only $1.75B priced Thursday
$1.75B *Nationwide Building Society launched earlier
- 
$15.5B Priced Wednesday, $7B BoA 3-part lead
02/28 $7B *Bank of America 3-part ($3B 6NC5 fix +90/$1.5B FRN +79, $2.5B 11NC10
+110)
02/28 $3B *Mizuho 3-part ($850M Each 5Y fix +90/5Y FRN +79, $1.3B 10Y fix +115
02/28 $1.5B *European Bank for R&D (EBRD) 5Y +7
02/28 $1B *Occidental Petroleum 30Y +110
02/28 $750M *Ford Motor Credit, 3Y fix +105/FRN +81
02/28 $500M *Travelers Cos Inc 30Y +95
02/28 $500M *Keybank 5Y +73
02/28 $1.25B *SoCal Ed 3-part ($450M 3Y +50, 00M $10Y +80, $400M 30Y +100)
-
$5.25B Priced Tuesday
02/27 $1.5B *FMS Wertmanagement 5Y +10
02/27 $1.05B *Chevron Phillips Chemical (CPCHEM) $500M 5Y +65, $550M 10Y +85
02/27 $2.1B *Anthem 2-part, $1.25B 10Y +120, $850M 30Y +140
02/27 $600M *Marsh & McLennan 30Y +103
-
$12.25B Priced Monday
02/26 $3.5B *MUFG: $1.5b 5Y fix +85/$750M 5Y FRN, $750M 7Y +100, $500M 10Y +110
02/26 $2B *Bank of England 144a/Reg-S 3Y
02/26 $400M, *CenterPoint Energy Houston Elec 30Y +82
02/26 $1.6B *Starbucks 2-part: $1B 5Y +50, $$600M 10Y +67
02/26 $1.5B *Philips 66 ($500M 3NC1 FRN L+60, $800M 10Y +105 $200M Tap PSX
4.875%
02/26 $1B *Florida Power and Light 30Y +82
02/26 $1B *Duke Energy $500M 5Y +47, $500M 30Y +82
02/26 $750M, *Burlington Northern Santa Fe 30Y +90
02/26 $500M *Cargill 5Y +67
- 
No new supply issued Friday
-
$8.05B priced Thursday
02/22 $1B total *PPG Ind $300M 5Y +60, $700M 10Y +85
02/22 $400M *PACCAR Fncl Corp 3Y, +55a
02/22 $2.75B *BNP Paribas, $1.5B 5Y +90, $1.25B 15NC10 +150
02/22 $2B *American Express $1.6B 5Y fix +77, $400M FRN L+65
02/22 $1.4B *Deutsche Bank $1B 5Y fix +135, $400M FRN L+123
02/22 $500M *Bank of New Zealand (BNZ) 5Y +85
-
$2.35B total priced Wednesday
02/21 $1.4B *Boeing 4-part, $350M each: 5Y, 10Y, 20Y and 30Y
02/21 $500M *Mastercard 10Y +62, 30Y +77
02/21 $450M *Ryder System Inc. 5Y +78
- 
$1.9B priced Tuesday
02/20 $1.5B *Sprint 8NCL Sr Notes, 7.625$
02/20 $400M *Snap-On Inc, 30Y +95
-
No new issuance reported Friday
-
$2.6B Priced Thursday
02/15 $2.25B *Daimler Finance 5-tranche                              
* $550M 3Y fix +65                                                   
* $400M 3Y FRN +45                                                   
* $675M 5Y fix +75                                                   
* +625M 10Y +85                                                      
02/15 $350M *Peco Energy WNG 30Y FMB +77                             
-
$2.0B Priced Wednesday
02/14 $2B *Rentenbank 2Y MS -3a
-
$2.0B Priced Tuesday
02/13 $1.5B *KFW 21M Global MS -5
02/13 $500M *NWB 2/2020 FRN 3ML +4 
- 
$2.4B Priced Monday:
02/12 $1.6B *American Honda Finance 3Y Fix +40, 3Y FRN +21, 10Y +68
02/12 $800M *Commonwealth Edison 30Y +85
--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com
[TOPICS: MTABLE]

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