US$ High-Grade Credit Supply Pipeline - May 22, 2018

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

- 

Only $600M priced Monday

05/21 $300M *Unum Group 40NC5 6.25%

05/21 $300M *Citizens Financial PerpNC5 fix/FRN 6.00%

- 

No new issuance Friday after $35.05B priced on week

- 

$5.75B priced Thursday

05/17 $2.5B *Svenska $1.25B 3Y fix +65, 1.25B 3Y FRN +47

05/17 $1.95B *Schwab $600M 3Y fix +50, $600M 3Y FRN L+32, $750M 7Y +80

05/17 $750m *Valero Energy 10Y +125

05/17 $500M *Province of New Brunswick 10Y +50

- 

Only $1.8B priced Wednesday

05/16 $1B *Kommunivest 3Y +6

05/16 $800M *Harley-Davidson Fncl $450M 2Y FRN +50, $350M 3Y +80

- 

$9.725B priced Tuesday

05/15 $2.6B *Citigroup $1.25B 6NC5 fix/FRN +112.5, $1B 6NC5 FRN, $350M Tap of C

4.450% 2027

05/15 $2B Diego $500M each 2Y fix +45, 2Y FRN +24, 5Y +63, 10Y +85

05/15 $2B *Republic of South Africa $1.4B 12Y, $600M 30Y

05/15 $1.75B *RBS 11NC10 fix/FRN +182

05/15 $1B *Swedish Export Credit 3Y +9

05/15 $375M *Avista WNG 30Y +115 (upsized from $350M)

- 

$17.83B Priced Monday

05/14 $8B *Maple Escrow Sub (Keurig Dr Pepper) 6-part

      $1.75B 3Y +85, $2B 5Y +120, $1B 7Y +145, $2B 10Y +160, $500M 20Y +185,

$750M 30Y +195

05/14 $2.25B *Bank of America 4NC3 fix/FRN +80

05/14 $2B *American Express $1.2B 3Y +68, $800M 3Y FRN +52.5

05/14 $1.5B *Goldman Sachs 8NC7 FRN, L+117

05/14 $1B *Fidelity Ntnl WNG $400M 10Y +130, $600M 30Y +175

05/14 $800M *Great-West Lifeco Finance $300M 10Y +105, $500M 30Y +145

05/14 $500M *Canadian Pacific Railway WNG 10Y +102

05/14 $500M *AEP Texas 10Y +100

05/14 $430M *Ameren Illinois WNG 10Y +82

05/14 $400M *San Diego Gas & Electric 30Y +105

05/14 $Benchmark Swedish Export Credit 3Y +12a

05/14 $500M Alcoa 10NC5 

-

No new corporate issuance Friday, surprisingly decent $41.98B on week

- 

$13.65B priced Thursday, surprisingly decent $41.98B on week

05/10 $6B *HSBC $2B 3NC2 FRN +60, $2B 6NC5 +112, $2B 6NC5 +100

05/10 $6B *GlaxoSmithKline 5-part:

      $1.25B 3Y fix +55 $750M 3Y FRN +35, 

      $1.25B 5Y +65, $1B 7Y +80, $1.75B 10Y +90

05/10 $1.25B *ANZ $500M 3Y fix +65, $750M 3Y FRN L+46

05/10 $400M *Southern California Fas WNG 30Y +100

-

$8.3B priced Wednesday

05/09 $4.5B *Barclays $1.25B 6NC5 fix/FRN +150, $1.5B 6NC5 +135, $1.75B 11NC10

fix/FRN +197

05/09 $2B *Caterpillar 4-part: 

      $650M 2Y fix +43, $600M 2Y FRN +18, 

      $500M 5Y fix +63, %250M 5Y FRN +51

05/09 $1.8B *Centene Corp 8NC3 sr notes

- 

$15.28B Priced Tuesday

05/08 $1.78B *Verizon 7Y FRN +110

05/08 $7.5B *General Dynamics 7-part: 

      $2B 2Y fix +55, $500M 2Y FRN +29, $2B 3Y fix +60, %00M 3Y FRN +38

      $750M 5Y +65, $750M 7Y +77, $1B 10Y +85

05/08 $3B *Westpac Banking $750M 2Y fix +55, $500M 2Y FRN +28, $1B 5Y fix +85,

$750M Y FRN +72

05/08 $1.75B *Skandinaviska Enskilda Banken AB (SEB), $650M 3Y fix +65, $1.1B 3Y

FRN +43

05/08 $1.25B *Huntington, $750M 3Y fix +68, $500M 7Y +112.5

-

$4.75B priced Monday

05/07 $1.2B *Bank of America PerpNC5 6%

05/07 $1B *Kellogg $400M 3Y +65, $600M 10Y +140

05/07 $1B *Consolidated Edison $300M 10Y +85, $700M 40Y +140

05/07 $500M *Amcor Finance 10Y +158

05/07 $500M *Clorox 10Y +97

05/07 $550M *PACCAR Financial $300M 3Y fix +48, $250M 3Y FRN +26

-

Potential upcoming issuance:

* $Benchmark, United Technologies

* $Benchmark, Coca-Cola (KO)

* $Benchmark Qualcomm, history of large annual issuance

- 

No new issuance Friday, $18.55B priced on week

- 

Near $6B priced Thursday

05/03 $2.5B *Transcanada Pipelines $1B 10Y +135, $500M 20Y +165, $1B 30Y +180

05/03 $1.2B *Hershey $350M 2Y +45, $ 350M 3Y +50, $500M 5Y +60

05/03 $800M *Republic Services 10Y +118

05/03 $500M *Florida Power & Light WNG 30Y +100

05/03 $400M *S&P Global 30Y +145

05/03 $550M *EBRD 4Y FRN 3ML +1a, launched late Wednesday

- 

No high-grade supply priced Wednesday

-

$4.9B Priced Tuesday, mostly Lloyds 3Y fix/FRN, 7Y fix

05/01 $3.75B *Lloyds, $1.25B 3Y fix +70, $1B 3Y FRN L+49, $1.5B 7Y fix +153

05/01 $550M *Consumer Energy Co 30Y +97

05/01 $600M *American Builders & Contractors 8NC3 Sr notes, downsized from $800M

- 

$7.65B priced Monday

04/30 $4B *Daimler Finance NA, 7-part:

  $500M 2Y fix +65, $500M 2Y FRN +39, $1B 3Y fix +77, $700M 3Y FRN +55, 

  $600M 5Y fix +95, $400M 5Y FRN +84, $300M 10Y tap +105

04/30 $1.5B *Ford Motor Credit $900M 5Y fix +135, $600M FRN +123.5

04/30 $1.3B *Texas Instruments Inc, 30Y +107

04/30 $525M *DTE Electric Co WNG 30Y +97

04/30 $350M *Indiana Michigan Power 10Y +95

- 

No new supply Friday, $23.25B Priced On Wk

- 

$2.5B Priced Thursday

04/26 $2B *Capital One $1.25B 3Y +85, $750M 7Y +130

04/26 $500M *Turk Eximbank 6Y MS +330

-

$2.45B Priced Wednesday

04/25 $1B *Kommunalbanken 3Y MS+4

04/25 $1.45B *CNOOK Finance 2015 USA $450M 5Y +105, $1B 10Y +140

- 

$11.3B priced Tuesday

04/24 $3B *Royal Bank of Canada $1.5B 3Y fix +60/$1.5B 3Y FRN +39

04/24 $2.85B *US Bankcorp $1B 3Y fix +53, $1B 3Y FRN +32, $850M 10Y +95

04/24 $2.6B *Barcardi Ltd $750M 7Y +155, $800M 10Y +175, $350M 20Y +200, $700M

30Y +215

04/24 $950M *State Grid (Overseas Inv 2016 Ltd, CHGRID) 5Y +97.5, 10Y +130

04/24 $850M *Suntrust Banks 7Y +108

04/24 $650M *Aviation Capital Grp 5Y +115

04/24 $397.5M *Harvest Operations Corp 5Y +140

- 

$7B priced Monday

04/23 $3.5B *Citibank $2B 2Y fix +60, $1.5B 2Y FRN +32

04/23 $1.25B *Bank of NY Mellon $750M 5Y +70, $500M 10Y +90

04/23 $1B *Nucor $500M 10Y +100, $500M 30Y +150

04/23 $750M *Keycorp 10Y +115

04/23 $500M *BOC Aviation, 3Y FRN 3ML +105

- 

No new issuance Friday

$11.75B Priced Thursday, $47.2B on week

04/19 $3.75B *Morgan Stanley 2-part, 6NC5 +68, 21NC20 +135

04/19 $3.5B *JP Morgan Case Bank $2.2B 3NC2 fix-FRN +65, $1.3B 3NC2 3ML+34

04/19 $1B *Meiji Yasuda Life 30NC10 5.1%

04/19 $1.75B *EBRD 3Y NS -3

04/19 $1.75B *Rabobank $1B 3Y fix +65, $750M 3Y FRN +43

- 

$6.8B priced Wednesday

04/18 $1.5B *EIB 7Y +14

04/18 $5B *Goldman Sachs, $3.5B 11NC10 +135, $1.5B 21NC20 +135

04/18 $300M *Guardian Life 5Y +80a

- 

$16.6B priced Tuesday, $28.65B/week

04/17 $4.75B *Syngenta 6-parts, all fixed

      $750M 2Y+130, $750M 3Y+140, $1B 5Y+175, $750M 7Y+210, $1B 10Y+235, $500M

30Y+265

04/17 $3.8B *AXA Equitable Hldngs, $800M 5Y +125, $1.5B 10Y +155, $1.5B 30Y +200

04/17 $2B *Bank of Nova Scotia $1.3B 3Y +67, $700M 3Y FRN L+44

04/17 $1.5B *IDA 5Y Reg S/144a +7

04/17 $1.75B *Credit Agricole $1.25B 5Y +115, $500M 5Y FRN +102

04/17 $1B *JFM 5Y MS +44

04/17 $750M *Sumitomo Mitsui Banking FRN 2020 Tap 3ML +40

04/17 $500M *Cargill Inc, WNG 3Y +57

04/17 $550M *Fidelity & Guaranty Life 7NCL Sr Notes

-

$12.05B priced Monday, JPM 3-part and $2B Citigroup late in day

04/16 $4.5B *JPMorgan, $1.75B 6NC5 +88, $500m 6NC5 FRN +73, $2.25B 11NC10 +118

04/16 $2B *Citigroup Inc, 11NC10 Fxd-to-FRN IPT +125

04/16 $1.75B *Taqa $750M 7yr +160, $1B 12Y +205

04/16 $1.6B *Delta Air Lines 3Y +90, 5Y Fxd +115, 10Y +155

04/16 $1.2B *United Overseas Bank (UOB) $700M 3Y fix+72, $500M 3Y FRN +48

04/16 $1B *Hanwa Life 30NC5 at 4.7%

-

No new issuance so far Friday

- 

$16B priced Thursday, $12B Qatar crest early wk Saudi issuance 

04/12 $12B *State of Qatar $3B 5Y +135, $3B 10Y +170 and $6B 30Y +205

04/12 $4B *IADB 3Y Global MS-3 

- 

$2.5B Priced Wednesday

04/11 $2.5B *SRILAN (Democratic Socialist Rep of Sri Lanka) $1.25B each 5Y, 10Y

- 

$17.5B Priced Tuesday

04/10 $4.5b *Saudi Arabia 7Y +140

04/10 $3b *Saudi Arabia 12Y +175

04/10 $3.5b *Saudi Arabia 31Y +210

04/10 $2.25B *Bank of Montreal $1.5B 3Y +70, $750M 3Y FRN L +46

04/10 $2.25B *Toyota Motor Credit $1B 3Y +52, $750M 3Y FRN +28, $500M 7Y +70

04/10 $2B *Ontario Teachers' Finance Trust 3Y +15

- 

$4.075B Priced Monday

04/09 $3B *Banco Santander $1.25B 5Y Fxd +125, $500M 5Y FRN +112, $1.25B 10Y fix

+160

04/09 $500M *SK Telecom 5Y +117.5

04/09 $575M *Nevada Power Co 2Y +47

-

No new supply issued Friday, $20.875B total last wk

- 

$9.35B Priced Thursday

04/05 $2.5B *GM Financial, $500M 3Y FRN +85, $1B 3Y fix +112, $1B 7Y +160

04/05 $3.5B *BMW US Capital, $1.75B 3y Fxd/FRN, $1B 5y Fxd, $750M 10y

04/05 $2.5B *Salesforce, $1B 5Y +62.5, $1.5B 10Y +87.5

04/05 $350M *NWB Mining FRN 2019 Tap 3mL +1

04/05 $500M *BNG Mining 4Y FRN 3ML +7a

-

$2.05B priced Wednesday

04/04 $1.25B *Societe Generale PerpNC10 1.675%

04/04 $800M *Aegon 30NC10 Tier 2 Fixed to FRN 5.75%

-

$8.975B priced Tuesday

04/03 $6.05B *General Mills Inc., potential 8-tranche issuance:

      $600M 3Y Fxd +80, $850M 3Y FRN +54

      $850M Long 5Y Fxd +115, $400M 5Y FRN +101

      $800M 7Y +130

      $1.4B 10Y +145

      $500M 20Y +155

      $650M 30Y +170

04/03 $2.5B *Charter Communications $800M 20Y +245, $1.7B 30Y +275

04/03 $425M *Union Electric Co WNG 30Y FMB IPT +100

-

$500M Priced Monday

04/02 $500M *Securian Financial Group 30Y IPT +185

-

03/26 $500M *Allstate $500M, $250M 3Y FRN 3ML +43, $250M 5Y FRN 3ML +63

03/26 $500M *Dollar General Corp 10Y +130

03/26 $1.5B *ABB Finance $300M 2Y +55, $450M 5Y +75, $750M 10Y +95

03/26 $750M *Citizens Bank $500M 5Y +110, $250M 5Y FRN L+95

03/26 $600M *Centerpoint Energy Resources WNG 5Y +97, 10Y +117

03/26 $Benchmark KfW 3Y IPT MS +1A

03/26 $Benchmark Bell Canada Inc 30Y IPT +160A

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

[TOPICS: MTABLE]