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JGBS AUCTION

2-Year Auction Results

US TSYS

Off Asia Cheaps

JGBS AUCTION

PREVIEW: 2-Year JGB Supply Due

JGBS

Curve Twist Steepens, Futures Narrow

PRICED $12.7b DowDuPont Debt Offering 8-Part
$35B Expected This Week; DowDuPont Jumbo Deal
     *** PRICED $1b NWB 3Y MS +6
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/15  $1b *NWB 3Y MS +6
11/15  $750m *CAF 5Y MS +79
11/15  $620m *The Government of Bermuda Long 10Y +175
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$2.37b Priced Thursday
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/14  $12.7b DowDuPont Debt Offering 8-Part; $1.5B 2Y +90, $500M 2Y FRN 3mL
+71,
       $2.5b 5Y +125, $300m 5Y FRN 3mL +111, $1.85b 7Y +145, $2.25b 10Y +160, 
       $1.65b 20Y +195, $2.15b 30Y +205
11/14  $1B NWB WNG 3Y; IPT MS +7a
11/14  $400m Kilroy Realty 10Y Green Bond +168
11/14  $Benchmark ICBC New York Branch FRN 3Y 3mL +100a, 5Y 3mL +110a
11/14  $Benchmark CAF 5Y MS +80a
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$13.1b Priced Wednesday
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/13  $1.75B US Bank NA/US Bancorp; $700m 3Y +55, $300m 3Y FRN 2mL +38, $750m
7Y +90
11/13  $1B Boston Properties 10Y Green Bond +140
11/13  $500m World Bank 7Y Green Bond MS +7a
11/13  $1.2B Marriott International $550m 2Y FRN 3mL +60, $350m 5Y +120, $300m
10Y +155
11/13  $1.4B Svenska Handelsbanken 5Y +95
-
$5.85B Priced Tuesday
$20.75B Priced Last Week
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/07 $8b Volkswagen Grp of America 7-part (last issued in early 2017 was very
well subscribed)
      $1.25b 2Y +95, $1.25b 2Y FRN L +77, $1.5b 3Y +110, $750m 3Y FRN L +94,
      $1.25b 5Y +130, $750m 7Y +150, $1.25b 10Y +165
11/08 $4b Inalum $1b 3Y at yld 5.5%, $1.25b 5Y at 6%, $1b 10Y at 6.875%, $750m
      30Y at 7.375%
11/08 $1b Baidu 2-part $600m 5.5Y +133, $400m 10Y +170
-
$5B Priced Wednesday
Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/07 $3b #Shell International Finance Debt Offering in 3-parts; 
      $1b 5Y +53a, $500m 5Y FRN at L +40a $1.5b 10Y +75a
11/07 $2b #Santander UK; $1b 6NC5 +173, $500m 3Y +83, $500m 3Y FRN 3mL +66
11/07 $Benchmark Volkswagen Grp of America 7-part (last issued in early 2017 was
very well 
      subscribed) 
      2Y +95a, 2Y FRN L-equiv, 3Y +110a, 3Y FRN L-equiv, 5Y +130a, 7Y +150a, 10Y
+165a
11/07 $Benchmark ING Groep long 7Y (12Y Euro-denominated Gr bond)
11/07 $Benchmark Barclays 4NC3 fix/FRN +170, 4NC3 FRN Libor equiv
-
$1.25B Priced Tuesday, $2.75B/wk
11/06 $1.25B *Rentenbank 5Y +5
-
$1.5B priced Monday
11/05 $500M *Ameren Illinois WNG 30Y +110a
11/05 $1B *Duke Energy Carolinas 3Y +38, 10Y +80
-
No new issuance Friday, $21.75B priced on wk
-
$6.75B priced Thursday
11/01 $3B *American Express $1.25B 3Y +80, $1B 3Y FRN +60, $750M 7Y +118
11/01 $1.35B *GM Financial $1B 3Y +130, $350M 3Y FRN +110
11/01 $2B *BP Capital Markets Amer $1B Long 5Y +83, $1B 10Y +110
11/01 $400M *One Gas WNG 30Y; IPT +118
-
$4.7B Priced Wednesday
10/31 $1.75B *Daimler Finance $1.25B 3Y fix +85, $500M 3Y FRN +67
10/31 $1B *Swedish Export Credit WNG 3Y +6
10/31 $800M *Mubadala Development 10Y +135 
10/31 $500M *BNG Bank WNG 3Y +5
10/31 $650M *Canadian National 30Y +105
-
$5.3B priced Tuesday
10/30 $1B *Oesterreichische Kontrollbank (OKB) WNG 5Y, +8
10/30 $1B *TD Ameritrade $600M 3Y +43, $400M 5Y +85
10/30 $1B *Stanley Black and Decker $500M @ 10Y +115, 30Y +150
10/30 $900M *Corning $550M 30Y +200, $300M  50Y +250, $50M tap GLW 4.7%
10/30 $800M *Eastman Chemical $300M 3Y +70, $500M 10Y +150
10/30 $300M *Ryder WNG 5Y +95
10/30 $300M *Cleveland Electric Illuminating 12Y +145
-
$5B priced Monday
10/29 $850M *Consumer Energy $300M 10Y +73, $550M 30Y +103
10/29 $550M *Aflac WNG 30Y +145
10/29 $500M *Shinhan Bank 5Y +105
10/29 $300M *Southwestern Public Service WNG 30Y +110
10/29 $1.1B *Charles Schwab $500M +5Y +67, $600M +10Y +97
10/29 $700M *Boeing WNG $350M 10Y +67, $350M 30Y +92
-
No new issuance Friday, just over $16.5B priced on week
10/25 $2.25B *Province of Alberta 5Y +25
-
$6.625B priced Wednesday
10/24 $3B *Japanese Bank of Int Cooperation (JBIC) $2B 5Y, $1B 10Y
10/24 $1.4B *SunTrust Bank $600M 3NC2 +70, $300M 3NC2 FRN +50, $500M 7Y +103
10/24 $1.1B *United Rentals 8NC3 
10/24 $625M *National Rural Utilities, $325M 10Y +78, $300M 30Y +108
10/24 $500M *Kimberly-Clark WNG 10Y +85
-
$5B Priced Tuesday
10/23 $3B *EIB WNG 5Y +6
10/23 $2B *Netflix 10.5NCL split: $800M US$ 6.25%a and E1.1B 4.625%a
- 
$2.65B priced Monday
10/22 $2.15B *Constellation Brands $650M 3NC1 +70, $500M 7Y +130, $500M 10Y
+150, $500M 30Y +190
10/22 $500M *Keycorp WNG 7Y +103
-
No new issuance Friday, $23.38B priced on week, $87.6B/month
-
$1.05B priced Thursday
10/18 $550M *Progressive +10Y +85
10/18 $500M *MuniFin 2Y FRN L+1
-
$1.8B Priced Wednesday
10/17 $500M *IADB 3Y FRN 3ML-2
10/17 $300M *UDR 10Y +123
10/17 $1B *Nuveen 10Y +90
-
$10.25B priced Tuesday
10/16 $3.25B *Wells Fargo 3Y +70, 3Y FRN LIBOR equiv
10/16 $2B *TD Bank 3Y +25
10/16 $2B *Pemex long 10Y +335
10/16 $3B *ESM 2Y MS+0
10/16 $Benchmark Turkey 5Y IPT 7.75%a
Chatter: financial names as banks exit earnings blackout
-
$10.275B priced Monday
10/15 $7.025B *Conagra jumbo 8-tranche issuance:
      $525M 2NC1 FRN 3ML +75, $1.2B 3Y +90, $1B 5.5Y +130
      $1B 7Y +155, $1.3B 10Y +170, $1B 20Y +200, $1B 30Y +210
10/15 $1.7B *Royal Bank of Canada 3Y MS+25
10/15 $1.25B *FedEx $400M 10Y 105, $850M 30Y +165
10/15 $300M *Korea Expressway 30Y +80
-
$800M priced Friday, $16.15B priced/week, $64.2B/month
10/12 $800M *JP Morgan 2NC1 FRN SOFR +55
-
Only $1.5B Thursday after $12.65B priced Wed, 
10/11 $1.5B *Kommunalbanken 3Y +3
-
$12.65B priced Wednesday
10/10 $4B *KFW 3Y flat
10/10 $2.5B *Province of Ontario Canada 5Y +25
10/10 $1.4B *TransCanada Pipeline $400M tap 4.25%, $1B 30Y +170
10/10 $750M *CPPIB Capital Inc +3
10/10 $500M *Jackson National Life 2Y +30
10/10 $2.5B *Sumitomo Mitsui Financial Grp (SMFG) $1.85B 5Y fix/FRN, $650M 10Y
+112
10/10 $1B *Sumitomo Mitsui Banking Corp 2Y +37
Chatter $3B total US$ denominated PBOC 5Y, 10Y and 30Y
-
$1.2B priced Tuesday
10/09 $850M *John Deere Capital, $350M 2Y +17, $500M 5Y +60
10/09 $350M *Atlantic City Electric WNG 10Y +80
-
No new issuance Friday, $48.125B priced on Week
-
$750M Priced Thursday
10/04 $750M *AIB Group 5Y +175
-
$10B Priced Wednesday, 47.375B on week ($27B *Comcast jumbo 12-part)
10/03 $3B *Enterprise Products $750M 3Y +55, $1B 10Y +100, 1.25B 30Y +150
10/03 $2B *Colombia +1.5B 10Y +140, $500M tap COLOM 5%
10/03 $1.75B *American Honda $700M 3Y +45, $350M 3Y FRN +29, $700M 5Y +62
10/03 $1.5B *CenterPoint Energy, $500M @ 3Y fix +67, 5Y +85, 10Y +115
10/03 $1B *Total Capital 10Y +73
10/03 $750M *MetLife Global funding 3Y +52
-
$32.75B priced Tuesday, Comcast jumbo 12-part lead, 37.375B/wk
10/02 $27B *Comcast jumbo 12-part: 
      $1.75B 2Y fix +50, 1.25B 2Y FRN +33, $2B 3Y fix +60, $1B 3Y FRN +44,
      $2.5B 5Y fix +75, $500M 5Y FRN +63, $3B 7Y +95, $4B 10Y +110
      $1.5B 12Y +120, $3B 20Y +140, $4B 30Y +150, $2.5B 40Y +175
10/02 $2B *Saudi Basic Ind, $1B @ 5Y +115, 10Y +155
10/02 $1.5B *Lloyds Banking PerpNC7 7.5%
10/02 $1B *Kommuninvest 3Y +3
10/02 $850M *Bank of Montreal 10NC5 +140
10/02 $400M *Camden Property 10Y +105
--MNI Chicago Bureau; +1 630-698-0154; email: ryan.martin@marketnews.com