US$ High-Grade Credit Supply Pipeline - Mar 6, 2018

Focus on CVS up to 9-tranche issuance to fund Aetna acquisition

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

03/06 $Benchmark CVS 2Y & 3Y fix/FRN, 5Y fix +140a, 

03/06 CVS continued: 7Y +160a, 10Y +175a, 20Y +200a, 30Y +215a

03/06 $Benchmark OKB (Oesterreichische Kontrollbank AG) 5Y +17a

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Potential upcoming issuance in the near term:

Chatter, United Overseas Bank (UOB)

Chatter, Korea Resources (KORESC)

Chatter, Aegon NV (AEGON)

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$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

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No New Issuance Fri, $34.75B priced On Wk vs. $12.3B prior Wk

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Only $1.75B priced Thursday

$1.75B *Nationwide Building Society launched earlier

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$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)

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$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

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$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

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No new supply issued Friday

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$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

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$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

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$1.9B priced Tuesday

02/20 $1.5B *Sprint 8NCL Sr Notes, 7.625$

02/20 $400M *Snap-On Inc, 30Y +95

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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                             

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$2.0B Priced Wednesday

02/14 $2B *Rentenbank 2Y MS -3a

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$2.0B Priced Tuesday

02/13 $1.5B *KFW 21M Global MS -5

02/13 $500M *NWB 2/2020 FRN 3ML +4 

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$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

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No new high-grade issuance Friday

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$1.75B JP Morgan Priced, $2B Citibank 2-Part Supply priced Thursday

02/08 $1.75B *J.P. Morgan Chase Bank NA 2NC1 FRN 3ML+25a

02/08 $1.3B *Citibank NA $1.3B 3Y Fxd +55; $700M 3Y FRN 3ML+35

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$4.15B priced Wednesday

02/07 $1.15B *Bank Nederlandse Gemeenten NV (BNG) 3Y, MS +10

02/07 $3B *Sweden Gvt International Bond (SWED) 3Y, MS -1

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$8.350B Priced Tuesday 

02/06 $4B *European Investment Bank (EIB) 3Y MS +2

02/06 $3B *Province of Ontario 3Y MS +15

02/06 $1B *Council of Europe Development Bank (COE) 5Y MS +15

02/06 $350M *Harley-Davidson Fin Services Inc (HOG) 5Y +87.5

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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

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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

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

[TOPICS: MTABLE]