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

Details $1B COE 5Y

Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:

02/05 $1B Council of Europe Development Bank (COE) WNG 5Y MS +14 area

02/05 $Benchmark Province of Ontario 3Y MS +16

02/05 $Benchmark European Investment Bank (EIB) 3Y MS +3

Chatter, 3M (MMM) A1/AA-

Chatter, Bank of New Zealand (BZLNZ) A1/AA-

Chatter, KeyBank 

Chatter, Fifth Third Bank (FITB) A3/A

Chatter, State Street Corp (STT) A1/A

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No new issuance Friday after $7.6B priced Thursday

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$7.6B priced Thursday

02/01 $2B *IBM 3-part, $800M 3Y fix +35, $450M 3Y FRN L+16, $750M 5Y +45

02/01 $3.2B *Comcast 3-part, $1B 10Y +80, $1.2B 20Y +90, $1B 30Y +107

02/01 $900M *Canadian National Railway, 2-part, 2Y +25, 30Y +70

02/01 $500m *ERP Operating LP 10Y +80

02/01 $1B *Export Development Canada Min, 2Y MS-4

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$3.2B Priced Wednesday

01/31 $1.5B *Bank of America 8NC7 FRN at 3mL+77

01/31 $1B *Nederlandse Waterschapsbank 18-month FRN 3mL +2

01/31 $700M *National Rural Utilities 10Y +70

01/31 $500M Export Development Canada Min, 2Y

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$700M Priced Tuesday

01/30 $700M *Kommunalbanken AS (KBN), 3Y FRN

01/30 $500M Nederlandse Waterschapsbank (NWB), 18M FRN 3ML+2 Wednesday

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$4.765B Priced Monday

01/29 $1.5B *FedEx Corp, $500M 10Y +72, $1B 30Y +112

01/29 $2.25B *JPMorgan Chase Bank, $1.25B 3NC2 Fxd/FRN T+48, $1B 3NC2 FRN 3ML

+29

01/29 $1.015B *Republic of Chile, 10Y; IPT +55

01/29 $500M Kommunalbanken AS (KBN), 3Y FRN

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$2.6B Priced Friday

01/26 $1.35B *Canadian Imperial Bank of Commerce (CIBC) 3Y Fix +50, 3Y FRN 3ML

+31.5

01/26 $1.25B *SunTrust Bank 3NC2 Fix to FRN +48, 5Y Fix +60

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$4B Priced Thursday

01/25 $3B *Capital One in three Parts, 5Y fix +80, FRN +72 and 10Y +120

01/25 $1B *Export-Import Bank of India 10y at +125

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$3B Priced Wednesday, KFW headliner

01/24 $3B *KFW 10Y global MS +21

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$6.8B Priced Tuesday

01/23 $2B *CADES 3Y MS +10

01/23 $1B *Nordic Investment (NIB) Aaa/AAA, 3Y MS -2 

01/23 $2B *CPPIB Capital (CPPIBC) Aaa/AAA 3Y MS +9

01/23 $400M *Owens Corning 30Y +157

01/23 $500M *New York Life 2Y L+15a

01/23 $900M *Regions Banks 3Y fix/FRN

01/23 $Benchmark KFW 10Y global MS +23

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$5.65B Priced Monday, T-Mobile 2-tranche deal lead

01/22 $2.5B *T-Mobile, $1B 8Y +186, $1B 10Y +209

01/22 $1.75B *Bank of NY Mellon; $1B 5Y +53, $750M 10Y +75

01/22 $1B *M&T Trust $650M 3Y Fxd +47, $350M FRN 3mL+27

01/22 $400M *Korea Southern Power (KOSOPW) Aa2/na/AA-, 3Y +90

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$1.4B Priced Friday

01/19 $1.4B *Meredith Corp 8NC3 Sr notes

01/19 $Benchmark CPPIB Capital Aaa/AAA, 144a/Reg-S 3Y

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$33.8B Priced Thursday, $65.4B on Week

01/18 $7.5B *Morgan Stanley 3 parts: $2B 3NC2 FRN, $2.5B 5Y fix, $3B 11NC10

fix-FRN

01/18 $6.75B *Goldman Sachs Group, 5Y fix and/or FRN, 11NC10 fix to FRN

01/18 $3B *Republic of Ecuador 10Y at 7.875%

01/18 $5.25B *Bank of America 4NC3, 8NC7, 31NC30

01/18 $2B *Philippines 10Y 3.0%

01/18 $1.8B *US Bank NA Ohio 3-way ($550M 2Y fix, $500M 2Y FRN, $750M 5Y fix)

10/18 $1.5B *Brazil Tap 5.625% 2047 at 5.60%

01/18 $1.5B *Toronto-Dominion Bank 3Y fix/FRN

01/18 $1B *Jefferies Group 12Y +160a

01/18 $2B *IFC 3Y Global, MS-1

01/18 $750M *Crown Americas 8NC3

01/18 $750M *Extraction Oil and Gas, 8NC3 Sr notes

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$14.15B high-grade issuance priced Wednesday

01/17 $2.5B *Westpac Banking Group (WSTP) 3-part: 3Y, 3T FRN, 10Y

01/17 $3B *Citigroup Inc 2-tranche $2B 5NC4 Fxd-FRN +75, $1B 21NC20 Fxd-FRN +102

01/17 $2.15B *Deutsche Bank NY 3Y $1.15B 3Y Fxd +100, $650M 3Y FRN 3mL+81.5

01/17 $2B *PNC Bank 2 part: 3Y fix/FRN, 10Y

01/17 $1.5B *Dexia Credit Local (DEXGRP) Aa3/AA, 144a/Reg-S 3Y, MS +27

01/17 $1B *Kommuninvest (KOMINS) Aaa/AAA 144a/Reg-S 5Y, MS +4

01/17 $1.25B *Export Development Canada (EDC) Aaa/AAA, Global 5Y MS+10

01/17 $750M *Noble Corp Sr notes 2026

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$17.45B High-grade issuance priced Tuesday

01/16 $6B *Wells Fargo Bank NA 4-tranche:

01/16 $1.75B *Wells Fargo Bank 2Y fix, +43; $1B *Wells Fargo Bank 2Y FRN +23

01/16 $2.5B *Wells Fargo Bank 3Y fix +50; $750m *Wells Fargo Bank 3Y FRN 3mL+31

01/16 $2.25B *JPMorgan 11NC10 +97, 

01/16 $1.75B *JPMorgan 31NC30 +107

01/16 $1B *ANZ New Zealand 2-tranche:

01/16 $500m *ANZ New Zealand 3Y fix +63; $500m *ANZ New Zealand 10Y +95

01/16 $600M *Aercap 5Y +100

01/16 $550M *Aercap 10Y +137

01/16 $550M *Olin Corp 12NC6 Sr notes, +245

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Quiet Friday, no new issuance after whopping $69.1B priced this week, well above

$30B estimates. Looking to pick up again next week w/potential $7.5B

multi-tranche from Petroleos Mexicanos, $1B+ Wisconsin Power, Rabobank 5Y. More

dealer issuance as bank earnings works through the calendar.

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$17.75B priced Thursday January 11

01/11 $5B *Kreditanstalt fuer Wiederaufbau (KFW), 5Y MS+12

01/11 $3.75B *Asian Development Bank (ADB) 3Y MS+1, 

01/11 $1.5B *Asian Development Bank (ADB) 10Y MS+23

01/11 $500M *Municipality Finance (KUNTA) 3Y 3ML+5

01/11 $5.0B *Tencent Holdings (TENCNT), 144a/Reg-S

01/11 $1.0B *Tencent Holdings (TENCNT), 5Y fix +65

01/11 $500M *Tencent Holdings (TENCNT), 5Y FRN 3ML+60.5

01/11 $2.5B *Tencent Holdings (TENCNT), 10Y +105

01/11 $1.0B *Tencent Holdings (TENCNT), 20Y +105

01/11 $1B *Marfrig 7NC3, 7.125

01/11 $1B *BBVA Bancomer 15NC10 sub 265

01/11 $500M *Rede D'Or Finance 10Y

01/11 $1B *Brookfield Finance 10Y

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Over $14B priced Wednesday January 10, $6.5B Oman 3-part lead

01/10 $3.75B *Inter-American Development Bank (IADB) 5Y MS +11

01/10 $2B *State of Israel (ISRAEL) 2-parts: $1B 10s T+75; $1B 30s T+125

01/10 $525M *Patterson-UTI 10Y, +140

01/10 $200M *Banco Internacional del Peru SAA Interbank (BINTPE), 5Y +105

01/10 $6.5 *Sultanate of Oman (OMAN) Baa2/na/BBB-, 3-parts 5s/10s/30s

01/10 $1.25B *Sultanate of Oman (OMAN) 5Y +190

01/10 $2.5B *Sultanate of Oman (OMAN) 10Y +310

01/10 $2.75B *Sultanate of Oman (OMAN) 30Y +395

01/10 $1.15B Aramark Services 10NC5 Sr Notes

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Whopping $29.35B priced Tuesday, January 9

01/09 $5B *EIB 5Y Global, MS +15 (UST +19.3)

01/09 $5B Sempra Energy, 7-Tranches from 18M-30Y

01/09 $4.75B Sumitomo Mitsui 5-part

01/09 $2B *Republic of Turkey Long 10y 5.2%-5.30%

01/09 $1.85B *ABN Amro Bank 3Y Fxd/FRN; IPT Low +70s/L

01/09 $750M *Puma Energy 8NC3 at 5.000%

01/08 $1.75B *Sunoco 3-way, 5s, 8s and 10s Sr notes

01/09 $1.75B Crown Castle Benchmark; Long 5Y +110a, 10Y +150a

01/09 $1B *Athene Holdings Ltd 10y; IPT +175a

01/09 $500M *Jabil Inc. 10Y; +175a

01/09 $5B Sempra Energy, 7-Tranches from 18M-30Y

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$8B priced Monday, January 8

01/08 $2.5B *Toyota Motor Cr, 2Yr Fix/FRN, 5Y Fix/FRN, 10Y Fix 

01/08 $850M *BPCE S.A. 5Y Sn prfrd, +80-85 

01/08 $850M *BPCE S.A. 10Y Sn prfrd, +105-110 

01/08 $600M *Ares Capital Corp 7Y IPT +190 

01/08 $500M *MassMutual 7Y FA Backed +58 

01/08 $550M *Air Lease Corp 3Y, +65 

01/08 $700M *Air Lease Corp 7Y, +105 

01/08 $500m *L Brands 10Y Sr notes, 5.25-5.50% 

01/08 $Benchmark Ntnl Australia Bank Ltd (NAB) 3Y Fix/FRN, 5.25Y Fix/FRN 

01/08 $1.75B Sunoco 3-way, 5s, 8s and 10s Sr notes, likely Tue 

01/08 $Benchmark EIB 5Y Global, MS+17 likely Tue

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01/05  BM    Bank of Nova Scotia A1/A+/AA- 3Y+48?/FRN 3ml BAML/BNP/C/GS/SCOT

01/05  $2.0B #Credit Suisse 11Y/NC10Y Fxd-to-FRN: UST+140     CS

01/05  $1.0B #Intesa Sanpaolo Baa1/BBB/BBB 5Y+115  BARC/BAML/C/GS/IMI/JPM/MS

01/05  $1.0B #Intesa Sanpaolo    "        10Y+150  BARC/BAML/C/GS/IMI/JPM/MS

01/05  $500M #Intesa Sanpaolo    "        30Y+160  BARC/BAML/C/GS/IMI/JPM/MS

01/05  BM    Athene Holdings BBB/BBB investor calls Jan 4-5;BM bond? BARC/GS

01/10  BM    BBVA Bancomer A3/BBB+ inv.mtgs Jan 5-10 144a/RegS? BBVA/BNP/JPM

01/05  $3B?  Brookfield Business Ptnrs buys Westnghse Elct.$1B Stk/$3B L/T debt?

01/09  BM    Sultan.of Oman Baa2/BBB- mtgs Jan5-9 5/10/30Y? C/HSBC/JPM/SMBC/SBC 

01/05  $7.5B Pemex eyes $7.5B in 2018 total corporate bond issuance

01/08  BM    State of Israel sets Jan 8-9 investor meetings 10Y,30Y? C/DB/GS 

01/05  $1.0B Kommunekredit Aaa/AAA  EMTN no-grow 3Y:MS+90s JPM

01/05  BM    Philippines Baa2/BBB/BBB- 1st week Jan bond?  C/CS/DB/MS/SCB

01/05  $10B? Brazil filed US$ mixed shelf offering (bonds,stocks)

01/05  BM    EIB Aaa/AAA could potentially do US$ bond based on history

01/05  TBD   Kor.Elec.Pwr Corp. Aaa2/AA/AA- 11/3 wk meetgs    BAML/C/CA

01/05  TBD   Lebanon delayed Eurobond from Nov., said MOF 

01/05  TBD   Israel Electric Baa2/BBB US meetings Oct.30-Nov3 JPM

01/05  TBD   Hanjin Bank: Potentl US$ deal w/ KEXIM Guar?   BNP/DAIWA/GS

01/05  TBD   Quatar eyed $9B in international bonds; no time yet

01/05  BM     Korea Southern Pwr Aa2/AA- 11/29-12/5 mtgs     BNP/C/HSBC/UBS

--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com

[TOPICS: MTABLE]