US$ High-Grade Credit Supply Pipeline - Nov 4, 2019

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

Shell, Credit Suisse launch late; $11.325B to price Monday

11/04 $4B #Shell $1.25B 5Y +47, $1.5B 10Y +68, $1.25B 30Y +95

11/04 $2B #Credit Suisse WNG 2Y +52

11/04 $2B #Sinopec $700M 5Y +93, $1B 10Y +122.5, $300M 30Y

11/04 $1B #Excel Energy Inc $500M 10Y +90, $500M 30Y +125

11/04 $525M #Baker Hughes WNG 10Y +135

11/04 $500M #Caterpillar WNG 5Y +57

11/04 $300M #Commonwealth Edison WNG 30Y +97

11/04 $500M Brazil 10Y +220a, $Benchmark 30Y +280a

11/04 $500M *Posco 3Y +97.5

11/05 $Benchmark Province of Alberta 5Y +30a

11/?? Chatter: Sprint

11/?? Chatter: T-Mobile US 

-

11/01 Nothing in pipeline for Friday; $100B est for month of November

-

$2.65B priced Thursday; $26.65B/wk, $101B/month of Oct

10/31 $2B *HSBC 6NC5 fix/FRN +112

10/31 $350M *Private Export Funding (PEFCO) 5Y +25

10/31 $300M *PACCAR Financial WNG +3Y +38

-

10/29 No new issuance early Wed; $24B total/wk ($98.3B/month)

-

Unexpected $15.95 total issuance Tue pushed wk total to $24B ($98.3B/month)

10/29 $4.75B *Comcast $1.6B 10Y +83, $1.35B 20Y +93, $1.8B 30Y +113

10/29 $4B *Danaher $700M 3Y +40, $700M 5Y +55, $800B 10Y +85, $900M 20Y +100,

$900M 30Y +115

10/29 $3.5B *Mamoura $1B 5Y +95, $1B 10Y +125, $1.5B 30Y +175

10/29 $1.5B *State Street $1B 6NC5 fix/FRN +70, $500M 10NC10 +120

10/29 $750M *Royal Bank of Scotland 10NC2 +210

10/29 $800M *DTE Energy 3Y +70, 10Y +120

10/29 $650M *PNC 5Y Green bond +55

-

$8.05B priced Monday ($74.3B running total for October)

10/28 $4.25B *Citigroup $1.5B 3NC2 fix/FRN +67, $500M 3NC2 FRN, $2.25B 11NC10

+113

10/28 $1.5B *Hyundai Capital $800M 3Y +120, $700M 7Y +175

10/28 $1B *Hershey Co $300M 5Y +40, $300M 10Y +60, $400M 30Y +80

10/28 $1B *Rogers Communications Inc 30Y +142

10/28 $300M *Dover Corporation 10Y +115

Canadian supply

10/28 C$2.5B *Royal Bank of Canada 5Y +98

-

10/25 No new issuance Friday; $15.35B/wk

-

$7.8B Priced Thursday

10/24 $6.5B *Wells Fargo $3B 6NC5 fix/FRN +82, $3.5B 11NC10 fix/FRN +112

10/24 $800M *Norfolk Southern Corp $400M 10Y +83, $400M 30Y +120

10/24 $500M *Zions Bancorp 10Y +153

Canadian issuance:

10/24 C$450M *CN Rail 30Y +145

10/24 C$385M *Laurentian Bank NHA MBS +51

-

$1.05B priced Wednesday, $7.55B/wk

10/23 $750M *Fifth Third +5Y +80

10/23 $300M *Reliance Standard Life 5Y +95

-

$3.5B priced Tuesday, $6.5B/wk

10/22 $2.5B *Saudi Arabia 10Y Sukuk +127

10/22 $1B *CPPIB (Canada Pension Plan Investment Board) WNG 10Y +38

Canadian issuance

10/22 C$200M *Translink 300Y +102

-

$3B priced Monday

10/21 $1.5B *RBC (Royal Bank of Canada) 5Y +70

10/21 $1.5B *Delta Air Lines $900M 5Y +137.5, $600M 10Y +200

-

10/18 No new issuance Friday; $12.6B priced on week

-

$6.75B priced Thursday, $12.6B/wk

10/17 $4B *Bank of America $2B 6NC5 +88, $2B 11NC10 +113

10/17 $750M *LeasePlan 5Y +135

10/17 $750M *Bank of NY Mellon 5Y +60a

10/17 $750M *PNC Bank 10Y +100

10/17 $500M *FMO (Development Bank of the Netherlands) 5Y +20

-

$4.1B priced Wednesday, $5.85B/wk

10/16 $2B *World Bank 10Y +20

10/16 $1B *FINNVERA WNG 5Y +17

10/16 $600M *Industrial Bank of Korea $300M 3Y FRN +45, $300M 5Y +60

10/16 $500M *Bank of Montreal WNG 3Y +70

Canadian$ issuance

10/16 C$1.11B *Scotia Capital NHA MBS +50

10/16 C$500M *Fortified Trust 3Y +72

10/16 C$300M *Vancouver Airport Authority 30Y +119

-

$1.75B priced Tuesday

10/15 $1B *Credit Agricole 5.25Y +85

10/15 $750M *New York Life 2Y FRN +28

-

10/14 No new issuance Monday, $20B est/wk

-

No new issuance Friday, $29.06B on week

-

$3.35B Priced Thursday

10/10 $3B *ADB (Asia Development Bank) 5Y +13

10/10 $350M *EBRD (European Bank for Reconstruction & Development) 3Y SOFR+26

10/?? $Benchmark Industrial Bank of Korea

-

$10.065B priced Wednesday, $25.715B/wk

10/09 $7B *Rep of Italy $2.5B 5Y +105, $2B 10Y +150, $2.5B 30Y +235

10/09 $500M *Suntory Holdings Ltd 5Y +88

10/09 $1B *Bank of Nova Scotia +3Y +60

10/09 $1B *NIB (Nordic Investment Bank) 3Y +8

10/09 $565M *Thai Oil 30Y +145

-

$11.4B Priced Tuesday, much better than anticipated; $15.65B/wk

10/08 $3B *JBIC (Japan Bank for International Cooperation) $1B Each: 3Y +34, 5Y

+42, 10Y +55

10/08 $2B *IFC (International Finance Corp) 5Y +11

10/08 $1.5B *Dexia 5Y +38

10/08 $1.25B *CBA (Commonwealth Bank of Australia) 3Y +27.8

10/08 $1.25B *Macquarie Bank 3Y +75

10/08 $1B *Societe Generale 5Y +130

10/08 $1B *BNG Bank 5Y +18

10/08 $400M *IADB 3Y SOFR+26

-

$4.25B priced Monday

10/07 $1.5B *TD Bank $1.15B +3Y +53, $350M 3Y FRN L+53

10/07 $1B *PepsiCo 30Y +92

10/07 $750M *WEA Finance +7Y +143

10/07 $500M *DR Horton 5Y +112.5

10/07 $500M *Keysight WNG 10Y +145

-

$9.25B priced last week

10/04 No new US$ denominated issuance 

10/04 C$500M Quebec 10Y +68

-

10/03 No new issuance Thursday

-

$3.9B priced Wednesday, $9.25B/wk

10/02 $1.75B *Toyota Motor Credit $40M 2Y +33, $850M 2Y FRN +29, $500M 5Y +60

10/02 $1B *EIB (European Investment Bank) 10Y +19

10/02 $750M *National Bank of Canada 3Y +72

10/02 $400M *UDR $100M 2030 Tap +123, $300M WNG 15Y +155

Canadian issuance:

10/02 C$300M *Allied Properties 7.5Y +180

-

$2.4B Priced Tuesday; $5.35B on week so far

10/01 $1B *Nextera Energy Capital Holdings 10Y +115

10/01 $850M *MidAmerican Energy $250M 10Y tap +75, $600M 30Y +107

10/01 $550M *Marriott Int 3Y +70

-

Oh Canada! C$2.3B priced Tuesday

10/01 C$1B *CCDJ (Federation des Caisses Desjardins du Quebec) 5Y +105

10/01 C$1B *Enbridge Inc WNG 10Y +163

10/01 C$300M *Saskatchewan 10Y +79.5

-

$2.95B Priced Monday -- September saw record $159.13B issuance -- third all-time

highest issuance, w/43% occurring in first week (three largest issuers: $7B

Apple 5-part, $7B Disney 6-part and $5B JP Morgan 2-part).

09/30 $1.6B *Diageo Capital PLC $600M 5Y +58, $1B 10Y +80

09/30 $1.35B *American Tower $750M 7Y +115, $600M 30Y +160

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

[TOPICS: MTABLE]