US$ High-Grade Credit Supply Pipeline - Oct 15, 2019

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

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

10/15 $Benchmark Credit Agricole 5.25Y +85

On tap for Wednesday:

10/16 $1B FINNVERA WNG 5Y +19a

10/16 $Benchmark World Bank 10Y +20a expected Wednesday

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

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No new issuance Friday, $29.06B on week

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$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

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$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

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$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

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$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

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$9.25B priced last week

10/04 No new US$ denominated issuance 

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

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10/03 No new issuance Thursday

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$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

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$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

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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

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$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

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09/27 No new high grade issuance Friday, $23.93B priced on week

09/27 C$400M *Newfoundland and Labrador 30Y +93

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$700M priced Thursday

09/26 $700M *Black Hills 10Y +140, 30Y +175

09/26 C$600M *IADB 5Y +4

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$2.55B priced Wednesday, $23.23B/wk

09/25 $1.25B *Province of Ontario 10Y +47

09/25 $800M *Atmos Energy $300M 10Y +90, $500M 30Y +120

09/25 $500M *Duke Energy Indiana 30Y +120

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$6.75B priced Tuesday

09/24 $1.5B *Sumitomo Mitsui Financial Grp (SMFG) $1B 5Y +95, $500M 10Y +115

09/24 $550M *CIT Bank6NC5 +145

09/24 $1.25B *Kommunivest 3Y +15

09/24 $1B *Noble Energy $500M 10Y +150, $500M 30Y +210

09/24 $900M *Thermo Fisher WNG 10Y +110

09/24 $750M *BPCE 10Y +112.5

09/24 $400M *Hudson Pacific Properties 10Y +170

09/24 $400M *KEB Hana Bank 3Y +L+70

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$13.93B Priced Monday

09/23 $10B *Abu Dhabi $3B 5Y +65, $3B 10Y +85, $4B 30Y +110

09/23 $2B *Codelco $1.1B 10Y +130, $900M 30Y +155

09/23 $1B *Korean Development Bank (KDB) $500M 3Y +47.5, $500M 5Y +60

09/23 $300M *Camden Property Trust WNG 30Y +122

09/23 $300M *PACCAR Financial WNG 3Y +45

09/23 $330M *Union Electric 30Y +112

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$1.75B priced Friday, $24.7B/wk

09/20 $1.25B *Province of British Colombia 5Y +21a

09/20 $500M *European Bank for Reconstruction and Development (EBRD) 5Y +15

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$11.2B priced Thursday

09/19 $5B *PayPal $1B 3Y +55, $1.25B 5Y +75, $1.25B 7Y +95, $1.5B 10Y +110

09/19 $3B *VW Grp of America $500M 2Y +83, $500M 2Y FRN L+86, $1B 3Y +103, $500M

5Y +123, $500M 7Y +148

09/19 $1B *Walmart $500M 10Y +60, $1B 30Y +80

09/19 $1B *Federation des Caisses Desjardins du Quebec (CCDJ) 3Y +34

09/19 $500M *Republic of Armenia WNG 10Y 4.2%

09/19 $400M *Allegion WNG 10Y +173

09/19 $300M *Interstate Power & Light WNG 30Y +135a

Canadian issuance:

09/19 C$1B Ontario 10Y +69

09/19 C$Benchmark Scotiabank 5Y +106a

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09/18 No new issuance Wednesday, $11.75B total/wk

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$3.5B priced Tuesday, $11.75B total/wk

09/17 $1.5B *Royal Bank of Canada 3Y +31

09/17 $1B *Council of Europe Development Bank (COE) 3Y +11

09/17 $1B *Landwirtschaftliche Rentenbank (RENTEN)2Y +7

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$8.25B priced Monday

09/16 $3B *Alcon Finance $500M 7Y +105, $1B 10Y +120, $500M 30Y +150

09/16 $1.75B *Danske Bank 3NC2 $1B +125, $750M 6NC5 fix/FRN +155

09/16 $1.5B *Caterpillar $500M 10Y +77, $1B 30Y +98

09/16 $1.2B *Bangkok Bank 15NC10 +190

09/16 $500M *Pricoa Global Funding 5Y +70

09/16 $300M *Entergy Texas 30Y +128

Canadian issuance

09/16 C$1B TransCanada Pipeline C$700M 10Y +155, C$300M 30Y tap +232

09/16 C$500M Waste Management of Canada 7Y +115

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$400M priced last Friday, $38.3 total on wk, $107.55B/month

09/13 $400M *Protective Life Corp +10Y +155

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$9.35B priced Thursday

09/12 $7.5B *Pemex, $1.25B +7Y 6.5%, $3.25B +10Y 6.85%, $3B +30Y 7.7%

09/12 $650M *Host Hotels 10Y +168

09/12 $600M *Northwest Mutual Life 40Y +140

09/12 $600M *Alabama Power 30Y +120

Canadian issuance

09/13 C$5.25B *Canadian Housing Trust (CHT) 5Y +32

09/12 C$550M *World Bank C$300M 5Y tap +3, $250M 10Y +15

09/12 C$500M *PSP Capital 5YTap +39

09/12 C$300M *Montreal 10Y +92.5

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$8.7B priced Wednesday, $28.55B/wk 

09/11 $3B *Kraft Heinz $1B +10Y +205, $500M 20Y +250, $1.5B 30Y +275

09/11 $2B *African Development Bank (AFDB) 3Y +13

09/11 $2B *Asia Development Bank (ADB) 10Y +22

09/11 $1.25B *Expedia +10Y +160

09/11 $450M *Ameren WNG 5Y +92

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$10.75B priced Tuesday, $19.85/wk

09/10 $2B *KFW 10Y +21

09/10 $1.5B *Lloyds 3.5NC2.5 fix/FRN +120

09/10 $1.5B *Prudential Financial 31.5Y +155

09/10 $1.5B *Oesterreichische Kontrollbank AG (OKB) 3Y +14

09/10 $1.25B *TD Bank 1.5Y FRN FRN L+27

09/10 $800M *Florida Power & Light WNG 30Y +100

09/10 $800M *Penske Truck Leasing $500M 5Y +118, $300M 10Y +170

09/10 $600M *IADB 3Y SOFR+26

09/10 $500M *Sumitomo Mitsui Financial Grp (SMFG) 10Y +148

09/10 $300M *Washington Gas and Light WNG 30Y +150

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$9.1B Priced Monday

09/09 $1.85B *BB&T $1.1B 3.5Y +70, $750M 10NC5 +115

09/09 $1.6B *Mizuho $500M 4NC3 L+85, $600M 6NC5 +105, $500M 11NC10 +122

09/09 $1.25B *John Deere Capital $400M 3Y fix +48, $400M 3Y FRN LIBOR L+49,

$450M 7Y +73

09/09 $1.1B *Air Lease Corp $600M 3Y +95, $500M 10Y +175

09/09 $750M *Discover Bank 5Y +98

09/09 $700M *Fortune Brands 10Y +160

09/09 $700M *ONCOR Electric WNG 30Y +105

09/09 $400M *Baltimore Gas & Electric WNG 30Y +120

09/09 $400M *Principal Life Global Fndng 10Y +95

09/09 $350M *AEP Transmission WNG 30Y +110

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$700M priced Friday, $69.25B/wk

09/06 $700M Banco de Credito +5Y +130

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$18.2B priced Thursday, $68.55B/wk

09/05 $5B *JP Morgan $2B 6NC5 +87.5, $3B 11NC10 +118

09/05 $1.75B *Ontario Teachers Finance Trust 5Y +36

09/05 $2B *Standard Chartered 3NC2 fix/FRN, +120

09/05 $1.6B *Evergy $800M 5Y +105, $800M 10Y +135

09/05 $1.5B *American Honda Finance $750M +3Y fix/FRN +60, $750M 5Y +73

09/05 $1.5B *Enel Finance 5Y +125

09/05 $1.25B *Swedish Export Credit 2Y +13

09/05 $1B *Mondelez Int Holdings Netherlands $500M 3Y +67, $500M 5Y +85

09/05 $900M *Healthcare Trust of America $250M 2026 Tap +133, $650M +10Y +158

09/05 $700M *Newmont Goldcorp 10Y +133

09/05 $500M *Agilent Technologies WNG 10Y +127

09/05 $500M *Air Liquide Finance WNG 10Y +80

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Second day heavy issuance, $30.25B total Wednesday, $50.35B/wk

09/04 $7B *Apple 5-part jumbo: $1B 3Y +35, $750M 5Y +53, $2B 7Y +68, $1.75B 10Y

+78, $1.5B 30Y +103

09/04 $3.5B *Simon Property $1B 5Y +70, $1.25B 10Y +110, $1.25B 30Y +130

09/04 $3B *Wells Fargo 3NC2 fix/FRN  +66/+65

09/04 $2.5B *Anthem Inc $850M 5Y +108, $825M 10Y +143, $825M 30Y +178

09/04 $2B *Credit Suisse Group 6NC5 +128

09/04 $2B *Coca-Cola $1B 5Y +47, $1B 10Y +67

09/04 $2B *MPLX $1B 2NC1 FRN +90, $1B 3NC1 +110

09/04 $2B *European Stability Mechanism (ESM) 5Y +19

09/04 $1.5B *Hewlett Packard $500M 18M FRN +68, $1B +3Y +90

09/04 $1.25B *MuniFin 3Y +15

09/04 $900M *Amphenol Corp 10Y +135

09/04 $750M *Georgia Power $450M 5Y +90, $350M 10Y +120

09/04 $750M *KeyCorp 10Y +110

09/04 $600M *ADB 2Y FRN SOFR +24, upsized from $500M

09/04 $500M *European Investment Bank (EIB) WNG 2022 Tap FRN SOFR +25

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Just over $20B priced Tuesday, $7B Disney jumbo lead

09/03 $7B *Disney 6-part, $500M 2Y +25, $500M 3Y +35, 500M 3Y FRN L+39, 

----- $1.5B 5Y ++50, $2B 10Y +70, $2B 30Y +95

09/03 $1.5B *Capital One 3Y +78

09/03 $1.35B *Unilever Capital Corp $500M 5Y +55, $850M 10Y +75

09/03 $1.25B *CK Hutchison $500M 10Y +135, $750M 30Y +150

09/03 $1.25B *Caterpillar Financial $500M 1.5NC FRN +30, $750M 3NC +70

09/03 $1B *Willis NA $450M 10Y +150, $550M 30Y +195

09/03 $1B *CSX $400M +10Y +97, $600M 30Y +145

09/03 $1B *HSBC Bank Canada 3Y +35

09/03 $900M *Blackstone Holdings Finance $500M 10Y +117, $400M 30Y +160

09/03 $900M *Phillips 66 Partners $300M 5Y +115, $600M 10Y +170

09/03 $600M *Northern States Power WNG 30Y +105

09/03 $500M *Deere WNG 30Y +95

09/03 $500M *BOC Aviation 10Y +165

09/03 $500M *Kilroy Realty +10Y +160

09/03 $400M *PPL Electric Utilities Corp 30Y +115

09/03 $325M *PECO Energy Co WNG 30Y +110

09/03 $300M *NY State Electric & Gas WNG 30Y +138

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

[TOPICS: MTABLE]