US$ High-Grade Credit Supply Pipeline - February 11, 2019

Est $35B Corporate issuance for Week

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

02/11 $Benchmark Union Pacific Corp 3Y, 5Y, 10Y 30Y

02/11 $Benchmark Citizens Bank 3Y fix/FRN, 7Y fix/FRN

02/11 $Benchmark DTE Electric 30Y +120a

02/11 $Benchmark Bank of England 3Y

02/11 $Benchmark Altria jumbo deal expected

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No new issuance Thursday or Friday, $8.85B/week

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$4.5B priced Wednesday, $8.85B/week

02/06 $2B *BP Capital Markets America $1B 7Y +82, $1B 10Y tap +92

02/06 $1.25B *Bank of Nova Scotia 5Y bail-in +92

02/06 $1.25B *CAF (Corp Andina de Fomento) 3Y +72

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$1B priced Tuesday, $4.35B/wk

02/05 $1B *Verizon WNG 10Y +120

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$3.35B priced Monday

02/04 $3B *Bank of America 11NC10 +125

02/04 $350M *Essex Portfolio LP 10Y +137.5

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No new issuance Friday, $17.5B/wk

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$2.3B priced Thursday 

1/31 $1.75B *Bank of Montreal 5Y +92

1/31 $550M *Harley Davidson Fncl 3Y +165

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No new corporate, supra-sovereign issuance Wed, $3.65B priced Tue, $14.75/wk 

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1/29 $1B *Crown Castle $600M 10Y +165, $400M 30Y +215

1/29 $1.25B *Kommunalbanken 5Y MS+15

1/29 $800M *New York Life Global $400M 2Y +42, $400M 2Y FRN L+28

1/29 $600M *Jackson National Life 3Y +78

1/28 $1B Colfax $500M 5NC2, $500M 7NC3 -- this week sometime

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$11.1B priced Monday

1/28 $3B *US Bancorp $800M 2Y +45, $900M 2Y FRN L+31, $1.3B 5Y +80

1/28 $1.6B *Schlumberger $750M +5Y +122, $850M +10Y +157

1/28 $1.3B *Codelco 30Y +175

1/28 $1B *Hyundai Capital America $650M 3Y +140, $350M 5Y +173

1/28 $950M *National Rural Utilities $450M 10Y +98, $500M 30Y +125

1/28 $800M *Ontario Teachers Cadillac Fairview 10Y +140

1/28 $600M *Discover Financial WNG 7Y +187.5

1/28 $500M *Nevada Power 10Y +100

1/28 $350M *Comerica 10Y +130

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No new issuance Friday, $17.6B priced on week

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$4.25B priced Thursday

1/24 $1.25B *Capital One Financial 5Y +140

1/24 $1B *KeyBank $600M 3Y +78/$400M 3Y FRN L+66

1/24 $500M *Experian Finance 10Y WNG +155

1/24 $1.5B *OKB 3Y MA+5a

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$9.6B priced Wednesday

1/23 $2B *Colombia $500M 10Y Tap +170, $1.5B 30Y +215

1/23 $1.5B *Fifth Third 5Y +110

1/23 $3.5B *ADB 5Y MS+7

1/23 $2B *FMS Wertmanagement 5Y MS+9

1/23 $600M *KEB Hana Bank $300M 3Y +87.5, $300M 5Y +102.5

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$3.75B priced Tuesday

1/22 $2B *JP Morgan 8NC7 fix to FRN +132

1/22 $900M *Penske Leasing $500M long 2Y +110, $400M 7Y +185

1/22 $500M *Bank of America WNG 4NC3 +78

1/22 $350M *Liberty Property 10Y +168

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$45.45b Priced Last Week

*** PRICED: $2.5b *Province of Ontario 5Y MS +36

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

1/18  $2.5b *Province of Ontario 5Y MS +36

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$45.45b Priced This Week

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*** PRICED: $3b *Morgan Stanley

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

1/17 $3b *Morgan Stanley 11NC10 Fixed-to-FRN +170

1/17 $3b *Government of Canada 3Y +10

1/17 $1.25b *Dexia Credit Local 3Y MS +25

1/17 $750m *PNC 5Y +100

1/17 $500m *Western and Southern Insurance Co. 30Y +210 

1/17 $Benchmark Province of Ontario 5Y MS +38a

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$8.5b Priced Thursday

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*** $5.5B *Wells Fargo 2-part and $2B *Mexico 10Y launched

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

1/16 $5.5B *Wells Fargo, $3B 5Y +125, $2.5B 10Y +145

1/16 $2B *Mexico 10Y +185

1/16 $1.85b *JP Morgan $25Par Perp Pref at 6%

1/16 $1.25B *State Bnk of India, $400M 3Y +157.5, $850M 5Y +185

1/16 $300M *Mitsui Fudosan 10Y +125

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$12.15b Priced Wednesday

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*** Yesterdays Recap: PRICED $6.8b *Fox Corporation in 5-parts

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

1/15  $6.8b *Fox Corporation $750 3Y +115, $1.25b 5Y +150, $2b 10Y +200, 

      $1.25b 20Y +240, $1.55b 30Y +250

1/15  $5b *KFW 5Y MS +9

1/15  $2.25b *Citibank 5Y +117

1/15  $1.75b *Province of Alberta 5Y MS +37

1/15  $1.5b *Kommuninvest Long 3Y MS +12

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$17.3b Priced Tuesday

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*** PRICED: $2.5b *GM Financial in 3-parts

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

1/14  $2.5b *GM Financial Short $500m 3Y +165, $1.5b 5Y +262.5, $500m 10Y +295

1/14  $2b *CPPIB Capital Inc 2.5Y MS +16

1/14  $500m *FedEx 3Y +93

1/14  $1b Kommuninvest 09/2022 MS +15a

1/14  $Benchmark KFW 02/2024 MS +11a

1/14  $Benchmark Province of Alberta 5Y MS +37

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$5b Priced Monday

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*** PRICED: $3b *Danske Bank in 2-parts

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

1/11  $3b *Danske Bank, $1.5b 3Y +260, $1.5b 5Y +290

1/11  $350m *TTX Co 30Y +157

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$47.9b Priced This Week

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PIPELINE: *** PRICED: $15.5b *Anheuser-Buschin in 6-parts     

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

1/10  $15.5b *Anheuser-Busch $2.5b 6Y +160, $4.25b 10Y +205, $750m 12Y +220,   

      $2b 20Y +240, $4b 30Y +250, $2b 40Y +275                                 

1/10  $1.6b *American Honda Finance $500m 2Y +62, $400m 2Y FRN 3mL +47,        

      $700m 5Y +100                                                            

1/10  $700m *CenterPoint Energy Houston Electric LLC WNG 30Y +122              

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$17.8b Priced Today                                                        

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*** Priced: $7.5b *Saudi Arabia in 2-parts

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

1/09  $7.5b *Saudi Arabia, $4b Long 10Y +175, $3.5b 31Y +230

1/09  $3.25b *IADB 5Y MS +10

1/09  $Benchmark Danske Bank Snr Non-pref, 3Y +255, 5Y +285

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10.75b Priced Today

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*** PRICED: $5b *Marsh & McLennan in 6-parts

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

1/08  $5b *Marsh & McLennan, $700m 2Y +95, $300m 3NC1 FRN 3mL +120,

      $1b 5Y +130, $1.25b 10Y +165, $500m 20Y +175, $1.25b 30Y +190

1/08  $4b *EIB 5Y MS +12

1/08  $1.5b *MetLife Global Funding, $750m 3Y +82, $750m 5Y +105

1/08  $1.5b *BNG Bank NV 2Y MS +5

1/08  $500m *Orix Corporation, 5Y +150

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$12.5b Priced Tuesday

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*** Priced $2b *Westpac 5Y Covered MS +58

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

1/07  $2b *Westpac 5Y Covered MS +58

1/07  $1.5b *MidAmerican Energy Co $600m 10Y +97, $900m 30Y +130

1/07  $Benchmark BNG Bank NV 2Y MS +5a

1/07  $Benchmark EIB 5Y +14a

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$10.9b Priced Last Week                                                         

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*** PRICED: *John Deere Capital Debt Offering in 3-Parts

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

1/04  $1.5b *John Deere Capital $500m 1.5Y FRN 3mL +42, $600m 3Y +77,

      $400m 5Y +97  

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*** PRICED: $2.75B *Ford Motor in 4-Parts

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

1/03  $2.75B *Ford Motor $675M 2Y +270, $325m 2Y FRN 3mL +255,

      $1.4b 3Y +325, $350m 3Y FRN 3mL +314 

1/03  $2.6b *BNP Paribas $1.7b 6NC5 FXD-FRN +235, $900m 11NC10 FXD-FRN +265 

1/03  $2b *Toyota Motor $700m 2Y +70, $300m 2Y FRN at 3mL +54, 

      $500m 5Y +100, $500m 10Y +115

1/03  $1.25b *Berkshire Hathaway Finance 30Y +140

1/03  $800m *Duke Energy Ohio $400m 10Y +110, $400m 30Y +140

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$9.4b Priced Yesterday

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NO NEW ISSUANCE SINCE MID DECEMBER

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$3B Priced Last Week

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*** PRICED: $3B *UnitedHealth debt offering in 4-parts

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

12/13  $3B *UnitedHealth $750m Long 5Y at +80, $300m 7Y at +90, 

       $850m 10Y at +100, $1.1b 30Y at +130 

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NO NEW ISSUANCE MONDAY, TUESDAY, WEDNESDAY

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$1.50b Priced Last Week

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NO NEW ISSUANCE WEDNESDAY, THURSDAY, FRIDAY                                 

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*** PRICED: $250m *Baidu Tap 2024 Notes +162.5 

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

12/04  $250m *Baidu Tap 2024 Notes +162.5 

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*** PRICED: $1.25b *Caterpillar Financial in 3-Parts

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

12/03  $1.25b *Caterpillar Financial $350m 2Y +53, $400m 2Y FRN 3mL +35, 

       $500m 5Y +83

12/03  $Benchmark ING 15NC10 +275a

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$1.25b Priced Monday

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

[TOPICS: MTABLE]