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US$ High-Grade Credit Supply Pipeline, Aug 26, 2020

  • Date $MM Issuer (Priced *, Launch #)
  • 08/26 $800M #Tencent Music Ent $300M 5Y +110, $500M 10Y +135
  • 08/26 $705M #Coca-Cola Femsa 12Y +120
  • -
  • $17.35B Priced Tuesday; $28.9B Total/Wk
  • 08/25 $5B *Abu Dhabi $2B 3Y +65, $1.5B +10Y +105, $1.5B 50Y 2.70%
  • 08/25 $3B *Asia Development Bank (ADB) 5Y +11
  • 08/25 $2.5B *Inter-American Development Bank (IADB) +3Y +5
  • 08/25 $2.1B *SEB $1.1B 3Y +38, $400M 3Y FRN L+32, $600M 5Y +58
  • 08/25 $1.5B *Japan Finance Org/Muni 5Y +439
  • 08/25 $1.5B *Rentenbank 10Y +20
  • 08/25 $850M *NatWest 15.25NC10.25 +235
  • 08/25 $500M *Equitable Fncl Life 7Y +95
  • 08/25 $400M *Pricoa Global Funding 5Y +55
  • -
  • $11.55B Priced Monday
  • 08/24 $6B *Royalty Pharma $1B each: 3Y+80, 5Y+115, 7Y+155, 10Y+180, 20Y+225, 30Y+245
  • 08/24 $2B *Glencore Funding $1B 5Y +145, $1B 10Y +190
  • 08/24 $1B *Nordea Bank 5Y +58
  • 08/24 $800M *Entergy 5Y +70
  • 08/24 $750M *Nationwide Building Soc 5Y +75
  • 08/24 $600M *Alabama Power 10Y +85
  • 08/24 $400M *KT Corp 5Y +80
  • -
  • 08/21 No new issuance last Friday; $46B priced on week
  • -
  • $11B Priced Thursday
  • 08/20 $7.5B *JNJ $1B 5Y +30, $1.5B 7Y +50, $1.75B 10Y +65, $1B 20Y +75, $1B 30Y +90, $1.25B 40Y +110
  • 08/20 $1.1B *Eli Lilly $250M 30Y +93, $850M 40Y +120
  • 08/20 $1B *International Finance Corp (IFC) 10Y +18a
  • 08/20 $900M *China Jianyin $400M 5Y +125, $500M 10Y +160
  • 08/20 $500M *Hongkong Electric 10Y +130
  • -
  • $4.7B Priced Wednesday
  • 08/19 $3B *World Bank (IBRD) 10Y +17
  • 08/19 $1.7B *Development Bank Of Japan $700M 5Y +28, $1B 10Y +4
  • -
  • $8.25B Priced Tuesday
  • 08/18 $2.7B *Roper $300M 2Y +35, $700M 5Y +75, $700M 7Y +95, $1B +10Y +110
  • 08/18 $2B *KFW 10Y Green bond +16
  • 08/18 $1B *Swedish Export Cr 5Y +19a
  • 08/18 $900M *Industrial/Comm Bank of China (ICBC) 5Y +147.5
  • 08/18 $750M *KKR Grp Finance 30Y +215
  • 08/18 $550M *Athene Global Funding 7Y +200
  • 08/18 $350M *Globe Life 10Y +150
  • -
  • $22.1B Priced Monday
  • 08/17 $6.5B *ICE (Intercontinental Exch) $1.25B 3NC1 FRN L+65, $1B 3Y +55, $1.5B 12Y +120, $1.25B 20Y +125, $1.5B 40Y +160
  • 08/17 $3B *Honeywell $2.5B 2NC1 +33, 500M 2NC1 FRN L+23
  • 08/17 $2.5B *GM Financial $1.25B 3Y +155, $900M 7Y +225, $350M 10Y +240
  • 08/17 $2B *Cummins $500M 5Y +50, $850M 10Y +85, $650M 30Y +120
  • 08/17 $2B *Dow Chemical $850M 10Y +150, #1.15B 30Y +220
  • 08/17 $1.5B *NAB 10Y +165
  • 08/17 $1.35B *Bermuda $675M 10Y +170, $650M 30Y +195
  • 08/17 $1.3B *Duke Energy $700M 1.5YNC6M L+18, $600M 30Y +110
  • 08/17 $1B *Santander UK Grp 6NC5 +125
  • 08/17 $500M *Southern Co Gas 10Y +110
  • 08/17 $450M *Oglethorpe Power Co WNG 30Y +240
  • -
  • $50.325B Total high-grade issuance last week; $89.225B/month
  • 08/14 No new issuance Friday
  • -
  • $7.325b Priced Thursday;
  • 08/13 $5.5B *Apple $1.25B 5Y +28, $1.25B 10Y +58, $1.25B 30Y +100, $7.75B 40Y +118 (adds to $8.5B debt issued on May 4: $2B 3Y +60, $2.25B 5Y +80, $1.75B 10Y +110, $2.5B 30Y +145). Apple also in the top ten record jumbo issuance w/$17B back in April 2013.
  • 08/13 $1.25B *Kommuninvest +2Y +7
  • 08/13 $575M *Flex $250M 5.5Y +160, $325M 10Y +235
  • -
  • $10.15B Priced Wednesday; $43B/wk
  • 08/12 $4B *CVS $1.5B 7Y +85, $1.25B 10Y +110, $1.25B 20Y +135
  • 08/12 $2B *NiSource $1.125B 5Y +70, $750M 10Y +103
  • 08/12 $1.5B *Axiata $00M 10Y +148, $1B 30Y +170
  • 08/12 $1.2B *MTR 10Y green bond +108
  • 08/12 $1.1B *PSEG WNG $550M 5Y +55, $550M 10Y +95
  • 08/12 $350M *Agree LP 10Y +225
  • -
  • $17.1B Priced Tuesday; $32.85B/wk
  • 08/11 $4.5B *Comcast $1.75B 10.5Y +90, $1.5B 32Y +118, $1.25B 42Y +138 (adds to $4B issued on 3/24 and 5/20)
  • 08/11 $2.75B *Toyota Motor Cr $750M 1.5Y FRN L+15, $1.4B 3Y +35, $600M 7Y +70 (adds to $4B issued on 3/27 and $3B on 5/20)
  • 08/11 $3B *HSBC $2B 6NC5 +137, $1B 11NC10 +172 (issued $2.5B on 3/25)
  • 08/11 $3B *MPLX $1.5B 5Y +150, $1.5B 10Y +200
  • 08/11 $1.2B *Eversource Energy $300M 5Y +55, $600M 10Y +100, $300M 30Y +125
  • 08/11 $1B *ADP WNG 10Y +65
  • 08/11 $650M *Republic Services 10Y +85
  • 08/11 $500M *CNA FNCL WNG 10Y +145
  • 08/11 $500M *Lincoln National WNG 10Y +168
  • -
  • $15.75B Priced Monday
  • 08/10 $4B *Chevron USA 7Pt: $750M 2Y fix/FRN +20/L+11, $1B 3Y fix/FRN +28/L+20, $750M 5Y +45, $750M 7Y +60, $750M 30Y +110
  • 08/10 $3.25B *Visa $500M 7Y +35, $1B +10Y +57, $1.75B 30Y +82
  • 08/10 $1.3B *S&P Global $600M 10Y +73, $700M 40Y +112.5
  • 08/10 $1.3B *Ball Corp 10NCL 2.87%
  • 08/10 $1.1B *Ecolab $600M 10Y +73, $500M 30Y +93
  • 08/10 $900M *Motorola Solutions 10Y +175
  • 08/10 $600M *Essex Portfolio $300M +10Y +118, $300M 30Y +143
  • 08/10 $600M *Bunge Ltd 5Y +140
  • 08/10 $500M *Great-West Lifeco WNG 5Y +67
  • 08/10 $500M *Concho Resources +10Y +185
  • 08/10 $400M *Kimco Realty +7Y +155
  • -
  • Friday's lone issuer pushed total issuance for week to $38.9B
  • 08/07 $2B *Regeneron $1.25B 10Y +120, $750M 30Y +160
  • -
  • $5.35B Priced Thursday; $36.9B priced on week
  • 08/06 $1.5B *ServiceNow 10Y +90
  • 08/06 $1.25B *Prologis $750M 10Y +75, $500M 30Y +100
  • 08/06 $1.1B *Pioneer Natural 10Y +145
  • 08/06 $1.5B *DaVita 10.5NC5.5 3.75%
  • -
  • $9B To price Wednesday; $31.55B/wk
  • 08/05 $2.5B *BP Capital Mkts $1B 10Y +120, $1.5B +30Y +155
  • 08/05 $2B *Activision Blizzard $500M 10Y +85, $1.5B 30Y +130
  • 08/05 $1.5B *BNP Paribas 15NC10 +205
  • 08/05 $1.5B *Barclays PerpNC5 6.125%
  • 08/05 $1.2B *China Merch Bank (CMB) $800M 5Y +170, $400M 10Y +228
  • 08/05 $300M *Tuscon Electric 10Y +100
  • -
  • $4.875B Priced Tuesday; $22.55B/wk
  • 08/04 $1.5B *Credit Suisse PerpNC7 5.25%
  • 08/04 $1B *Bank of Panama 10Y +200
  • 08/04 $600M *AutoZone WNG +10Y +117
  • 08/04 $600M *NY Life Global 10Y +70
  • 08/04 $500M *Moody's WNG 40Y +140
  • 08/04 $375M *Public Svc Electric&Gas WNG 30Y +90
  • 08/04 $300M *PACCAR Fncl WNG 3Y +28
  • -
  • Total $17.675B high-grade corporate debt priced Monday (Fannie Mae 10Y added $4.5B)
  • 08/03 $10B *Alphabet 6pt: $1B 5Y +25, $1B 7Y +45, $2.25B 10Y +58,
  • $1.25B 20Y +73, $2.5B 30Y +88 and $2B 40Y +108
  • 08/03 $4.5B *Fannie Mae 10Y +40
  • 08/03 $3B *AstraZeneca $1.2B +5Y +55, $1.3B 10Y +85, $500M 30Y +100
  • 08/03 $500M *China Int Capital Corp 3Y +170
  • 08/03 $1B *Praxair $700M 10Y +57, $300M 30Y +80
  • 08/03 $800M *DTE Energy 5Y +85
  • 08/30 $500M *Textron WNG +10Y +190
  • 08/03 $450M *Mid-America Apt +10Y +120
  • 08/03 $425M *Kilroy Realty 12Y +200

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