US$ High-Grade Credit Supply Pipeline - May 13, 2019

Estimated $25-30B for week

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

05/13 $1B Nordic Investment Bank 5Y +7a

-

No new issuance Friday, Quiet end after $51.6B priced on week

-

$3B Priced Thursday

05/09 $500M *O'Reilly Automotive WNG 10Y +145

05/09 $2.5B *Asia Infrastructure Inv Bank (AIIB) 5Y +6

-

$26.55B priced Wednesday ($48.6B/wk), IBM lion's share after $19B BMY Tue

05/08 $20B *IBM 8-part (est. $20-25B):

----  $1.5B 2Y +50, $1.5B 2Y FRN L+/-, 2.75B 3Y +60, $3B 5Y +80, 

----  $3B 7Y +95, $3.25B 10Y +105, $2B 20Y +130, $3B 30Y +145

05/08 $3B *EIB 5Y +6

05/08 $600M *Reinsurance Group 10Y +145

05/08 $400M *USAA Capital Corp WNG 2Y +37.5

05/08 $600M *Bell Canada 30Y +142, upsized from $500M

05/08 $1.5B *MGM China $750M 5NC2, $750M 7NC3

05/08 $450M *AvalonBay 10Y +82 Upsized from $350M

-

$19.5B priced Tuesday

05/07 $19B *Bristol-Myers 9-part (book was >$60B)

----  $750M 1.5Y +20, $1B 2Y +35, $1.5B 3Y fix +45, $500M 3Y FRN L+38, 

----  $3.25B 5Y +73, $2.25B 7Y +90, $4B 10Y +105, $2B 20Y +30, $3.75B 30Y +145

05/07 $500M *Principal Financial WNG 10Y +130

-

$2.55B priced Monday

05/06 $750M *Public Service Electric & Gas, $375M 10Y +75, $375M 30Y +95

05/06 $1.1B *American Water Capital Corp, 10Y +98, 30Y +128

05/06 $700M *Consolidated Edison +122

-

$500M priced Friday; $22.1B Priced last week

05/03 $500M *PACCAR Fncl WNG 3Y +37

-

$7.25B priced Thu, 

05/02 $2B *Starbucks Corp $1B 10Y +103, $1B 30Y +153

05/02 $1.25B *RBS 11NC10 +190

05/02 $1.5B *Saudi Telecom 10Y Sukuk +135

05/02 $1B *Florida Power $ Light 3NC6 +40

05/02 $1B *ENI 10Y +173

05/02 $500M *NWB WNG 1.5Y L+1

-

$500M Priced Wednesday, 14.35B/wk

05/01 $500M #CNA Fncl WNG 10Y +143

-

$8.3B priced Tuesday, $13.85B/wk

04/30 $3.5B *Boeing 5-part: 

----  $600M 3Y +52, $650M 7Y +75, $600M tap 10Y +85, $850M 15Y +112,$800M  30Y

+107

04/30 $2B *Barclays 6NC5 +165

04/30 $1.25B *Ford Motor Cr 10Y +260

04/30 $750M *Aon Corp 10Y +125

04/30 $300M *Textron WNG 10Y +140

04/30 $500M *Northern Trust WNG 10Y +65

-

$5.55B priced Monday

04/29 $2.5B *JP Morgan Chase, 11NC10 +117

04/29 $1.65B *Philip Morris $900M 5Y +68, $750M 10Y +100

04/29 $800M *Norfolk Southern, $400M tap NSC 3.8% and 5.1%, $400M 30Y +118

04/29 $300M *AEP Texas 30Y +120

04/29 $300M *Guardian Life WNG 5Y +60

-

No new issuance Friday, $7.2B priced on week

- 

$1.25B priced Thursday

04/25 $1.25B *OMERS Finance 5Y +26

04/? $Benchmark Tokyo Metropolitan Gov 3-7Y US$ or Euro issue chatter

04/? $Benchmark Waste Management

-

$4B Priced Wednesday

04/24 $1.5B *Royal Bank of Canada $1B 3Y +53, $500M 3Y FRN L+47

04/24 $900M *Aqua America $400M 10Y +105, $500M 30Y +135

04/24 $900M *Netflix 10.5Y 5.375% (E1.2B at 3.875%)

04/24 $700M *Penske Trucking 5Y +118

-

$1.95B priced Tuesday; $1.95B total/week

04/23 $1.25B *Rogers Communications 30Y +140

04/23 $700M *Kimberly-Clark 10Y +65

-

No new issuance Monday

-

No new issuance Thursday, mkts closed Friday

-

$8.25B priced Wednesday, $26.35B/wk

04/17 $4.5B *Bank of America $3B 8NC7 +107, $1.5B 21NC20 +110

04/17 $1.75B *Province of Ontario 3Y +15

04/17 $1B *Nationwide 4NC3 +125

04/17 $1B *Blackrock 10Y +75

-

$12.75B priced Tuesday, $18.1B/wk

04/16 $2.75B *Citigroup 6NC5 +95

04/16 $1.5B *PNC Financial 10Y +88

04/16 $4B *Walmart $1.5B 5Y +47, $1.25B 7Y +57, $1.25B 10Y +65

04/16 $1.5B *JP Morgan 30Y +115

04/16 $3B *KFW 2Y flat

- 

$5.35B priced Monday

04/15 $2.7B *BMW US Capital $750M 3Y fix +60, $300M 3Y FRN L+53, $1B 5Y +80,

$650M 10Y +110

04/15 $400M *Shinhan Bank 10Y tier 2 +157.5

04/15 $2.25B *America Movil $1B 10Y +115, $1.25B 30Y +145

- 

No new issuance Friday; $26.4B priced on week

- 

04/11 $750M DBS Grp (DBSH) 3Y +58a

-

$1.5B priced Wednesday

04/10 $1B *Panama 7Y +140

04/10 $500M *Public Storage 10Y +92

-

$19.25B total priced Tuesday, inaugural Saudi Aramco lead w/$12B

04/09 $12B *Saudi Aramco $1B 3Y +55, $2B 5Y +75, $3B 10Y +105, $3B 20Y +140, $3B

30Y +155

04/09 $2B *Toyota Motor Cr $1.25B 1.5Y FRN L+15, $750M 3Y +38

04/09 $3B *Staples $2B 7NC3 7.5%, $1B 8NC3 10.75%

04/09 $1B *Province of Manitoba 5Y +26

04/09 $750M *DBS Group 3Y +58

04/09 $500M *Waste Connections Inc. 10Y +103

-

$4.9B Priced Monday

04/08 $1.5B *CK Hutchison $750M 5Y +95, $750M 10Y +120

04/08 $1B *LG Chem $500M 5.5Y +95, $500M 10Y +117.5

04/08 $600M United Overseas Bank 10NC5 +150

04/08 $500M *SMBC Aviation Cap 5Y +125

04/08 $500M *Suncorp-Metway 5Y +103

04/08 $400M *Protective Life 5Y +78

04/08 $400M *DPL Inc 10Y +185

- 

no new issuance Friday; $20.5B priced/week

-

$750M priced Thursday

04/04 $750M *AutoZone $300M 5Y +87, $450M 10Y +127

-

$14.1B Priced Wednesday; $19.85B priced on week 

04/03 $6B *Tencent Holdings Ltd $1.25B 5Y +95, $750M 5Y FRN L+91, $500M 7Y +115,

$3B 10Y +145, $500M 30Y +160

04/03 $3B *Lowe's $1.5B 10Y +115, $1.5B 30Y +165

04/03 $1B *IHS Markit $400M 5Y +137, $600M 10Y +180

04/03 $1.25B *GM Fncl long 3Y +128

04/03 $1B *Vinci 10Y +127

04/03 $1B *AIB 6NC5 fix/FRN +195

04/03 $850M *NY Life 5Y +57 (after securing $1B 50Y +160 on Mon)

-

$4.75B Priced Tuesday; $5.75B/wk

04/02 $2B *ING Groep $1B 5Y +130, $1B 10Y +158

04/02 $1B *AIA Group 10Y +118

04/02 $1B *Province of Quebec 5Y +23

04/02 $750M *BOC Aviation 5.5Y +135

- 

$1B priced Monday

04/01 $1B #NY Life 50Y +160

-

$11B Broadcom jumbo 5-part issue stole the show late Friday; $22B total last wk

03/29 $11B Broadcom jumbo $2B 2Y +90, $1.5B 3Y +105, $2B 5Y +155, $2.5B 7Y +205,

$3B 10Y +240

-

$3.1B priced Thursday, $9.1B total for week, well off last eight week pace

03/28 $2.7B Nextera Energy Cap WNG $1B 3Y +75, $900M 5Y +95, $300M 7Y +100,

$500M 10Y +115

03/28 $400M Renaissancere Holdings 10Y +138

-

$1B priced Wednesday

03/27 $1B *Klabin Austria $500M 10Y 5.85%a, $500M 30Y 7.37%

-

$5B Mars multi-tranche lead issuance Tuesday, $7.3B priced

03/26 $5B *Mars 8-part: $600M 6Y +52, $700M 11Y +82, $600M 15Y +122, $700m 20Y

+102,

                        $300M 25Y +110, $900M 30Y +112, $500M 35Y +127, $700M

40Y +137

03/26 $1.3B *NatWest $1B 3.5Y +145, $300M 3.5Y FRN L+140

03/26 $1B *CIBC 5Y +92

-

03/22 $1.5B ADT $750M 5NCL 5.25%, $750M 7NCL 5.75%, 8NCL3 dropped

- 

$6.25B priced Thursday

03/21 $2.25B *Bank of Montreal $1.75B 3Y +65, $500M 3Y FRN L+57

03/21 $1B *Valero Energy 10Y +155

03/21 $1.5B *SocGen 5Y Sr +155

03/21 $1.5B *Brazil 10Y  4.7%

-

Small issuance Wed

03/20 $300M *Webster Financial 10Y +160

-

$4.75B Priced Tuesday; $12.6B/wk

03/19 $2B *RBS 6NC5 fix/FRN +185

03/19 $1.5B *Ingersoll-Rand Luxembourg Fin $400M 7Y +100, $750M 10Y +120, $350M

30Y +150

03/19 $1.25B *Nordea perp NC7 6.625%

-

$7.85B priced Monday

03/18 $3.5B *GlaxoSmithKline Capital $1.5B 3Y fix +50, $1B 5Y +70, $1B 10Y +90

03/18 $1.5B *BNP Paribas PerpNC5 6.625%

03/18 $1B *Target 10Y +78

03/18 $750M *SEB (Skandinaviska Enskilda Banken) 3Y +68

03/18 $700M *Louisville Gas/Kentucky Utilities WNG 26Y, 30Y

03/18 $400M *Kansas City Power $ Light WNG 30Y +115

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

[TOPICS: MTABLE]