US$ High-Grade Credit Supply Pipeline - Oct. 20, 2017

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

10/26 $2B    China to do $2B deal Oct26: RegS $1B 5Y, $1B 10Y in HKG

- Leads/book mgrs: BOC/BOCOM/ABC/CCB/CICC/C/DB/HSBC/ICBC/STAND

- China last sold US$ debt in 2004:$1.7B $/EUR 5Y,7Y; new US$ bd to trade on

HKSE 

- S&P downgraded China rating by one step Sep 21 to A+, stable outlook

10/20 $1.0B  Canada Pensn Pln Invstmt Board Aaa/AA 144a/Regs 10Y BAML/BNP/DB/TD

10/20 TBD    Hanjin Bank: Potentl US$ deal w/ KEXIM Guar? BNP/DAIWA/GS

10/20 TBD    Philippines Baa2/BBB/BBB- US meetings Oct 6-13 C/DB/MS/SCB

10/20 TBD    Quatar eyed $9B in international bonds; no time set yet

THURSDAY HAD $4.4B IN HIGH-GRADE CORPORATE DEBT; WEEK: $19.85B

10/19 $600M *Kia Mtrs Baa2/A-/BBB+ 144a/RgS 5.5Y+120  BNP/BAML/C/CA/HSBC/NOM

10/19 $300M *Kia Mtrs Baa2/A-/BBB+ 144a/RgS 10Y+125   BNP/BAML/C/CA/HSBC/NOM

10/19 $1.7B *TD Bank A2/AA-/AA- 2Y +40                BAML/C/JPM/TD/UBS

10/19 $300M *TD Bank A2/AA-/AA- 2Y FRN 3ml+15         BAML/C/JPM/TD/UBS

10/19 $1.2B *US Bank Cincinnati 3Y Fixed +37          GS/MS/USB

10/19 $300M *US Bank Cincinnati 3Y FRN 3ml+14         GS/MS/USB

-

WEDNESDAY HAD $9.0B IN HIGH GRADE CORPORATE BOND ISSUANCE:

10/18 $900M *UnitedHealth Grp A3/A+/A- 3Y T+30        BARC/C/MIZ/USB/WFS

10/18 $300M *UnitedHealth Grp A3/A+/A- 3Y FRN 3ml+7   BARC/C/MIZ/USB/WFS

10/18 $900M *UnitedHealth Grp " "      5Y T+45        BARC/C/MIZ/USB/WFS

10/18 $950M *UnitedHealth Grp " "      10Y T+70       BARC/C/MIZ/USB/WFS

10/18 $950M *UnitedHealth Grp " "      30Y T+95       BARC/C/MIZ/USB/WFS

10/18 $2.0B *Royal Bank of Canada A1/AA-/AA 3Y+47         C/DB/RBC

10/18 $500M *Royal Bank of Canada A1/AA-/AA 3Y FRN 3ml+24 C/DB/RBC

10/18 $2.5B *Rep.of Ecuador B-/B 144a/RegS 10Y 8.875%-9.125% CS/DB/JPM

-

TUESDAY HAD $4.5B HIGH-GRADE ISSUANCE:

10/17 $3.0B *CADES Aa2/AA 144a/Regs Tlk $3.8B bks:2Y MS+3 BNP/JPM/NATW

10/17 $1.0B *IFC Aaa/AAA green global SEC-Ex Tue 5Y MS+3 HSBC/JPM/TD

10/17 $500M *NWB Aaa/AAA  IOIs Mon: Tue Long 2Y FRN 3ml+3s NOM/JPM

10/17 N/A    Fannie Mae skips agency benchmark note in slot Tuesday 

-

MONDAY BROUGHT $1.95B IN HIGH-GRADE CORPORATE BOND ISSUANCE:

10/16 $1.25B *BPCE 144a/RegS sr non-prf Mon 10Y+125 BAML/GS/MIZ/NATX/WFS 

10/16 $750M  *Target Corp. A2/A/A- Mon no grow; 30Y T+110 BAML/DB/GS

-

FRIDAY HAD $2.75B IN HIGH-GRADE US$ CORPORATE BONDS; WK HAD $34.9B

10/13 $2.1B  *Citibank A1/A+/A+ 3a2 senior 3Y T+52       C

10/13 $650M  *Citibank A1/A+/A+ 3a2 senior 3Y FRN 3ml+30 C

-

THURSDAY HAD $950M IN HIGH-GRADE CORPORATE BOND ISSUANCE:

10/12 $3.0B *FHLBanks 2-year global note: UST +8 bps; BARC/C/MS

10/12 $300M *Intercorp Fincl Srvs 10Y +190 bps        BAML/INTER/JPM

10/12 $650M *Gerdau BBB-/BBB- 144a/RegS 10Y 5%        C/SANT

-

WEDNESDAY HAD $14.3B IN HIGH-GRADE CORPORATE BOND ISSUANCE:

10/11 $3.0B *EIB Aaa/AAA/AAA        5Y note MS+8    BARC/JPM/TD

10/11 $1.25B *SMFG A1/A- 5Y Fixed T+82              C/GS/JPM/SMBC

10/11 $500M  *SMFG A1/A- 5Y FRN 3ml+75              C/GS/JPM/SMBC

10/11 $750M  *SMFG A1/A- 10Y     T+100              C/GS/JPM/SMBC

10/11 $750M  *SMBC A1/A- 2Y Fixed T+57              C/GS/JPM/SMBC/NIKKO

10/11 $750M  *SMBC A1/A- 2Y FRN 3ml+31              C/GS/JPM/SMBC/NIKKO

10/11 $1.25B *Wal-Mart Aa2/AA     2Y T+23            BARC/C/MS

10/11 $300M  *Wal-Mart   "        2Y FRN 3ml-3       BARC/C/MS

10/11 $1.25B *Wal-Mart   "        3Y +30             BARC/C/MS

10/11 $1.25B *Wal-Mart   "        5Y +40             BARC/C/MS

10/11 $1.0B  *Wal-Mart   "        7Y +48             BARC/C/MS

10/11 $1.0B  *Wal-Mart   "        30Y+75             BARC/C/MS

10/11 $1.25B *Nationwide Bldg Socy Baa2/BBB 15Y/NC10+180 BARC/C/JPM/MS/NOM

-

TUESDAY HAD $16.9B IN HIGH-GRADE ISSUANCE:

10/10 $1.0B  *Northrup Grumman Baa2/BBB/BBB 3Y T+45   CS/GS/JPM/WFS

10/10 $1.5B  *Northrup Grumman Baa2/BBB/BBB 5Y T+60   CS/GS/JPM/WFS

10/10 $1.5B  *Northrup Grumman Baa2/BBB/BBB 7Y T+75   CS/GS/JPM/WFS

10/10 $2.0B  *Northrup Grumman Baa2/BBB/BBB 10Y T+90  CS/GS/JPM/WFS

10/10 $2.25B *Northrup Grumman Baa2/BBB/BBB 30Y T+140 CS/GS/JPM/WFS

10/10 $500M  *Conagra Brands Baa2/BBB/BBB 3Y FRN 3ml+50 HSBC/WFS

10/10 $750M  *Broadcom Baa2/BBB-/BBB      3Y T+60   BAML/C/JPM/WFS 

10/10 $1.0B  *Broadcom Baa2/BBB-/BBB      5Y T+70   BAML/C/JPM/WFS 

10/10 $1.0B  *Broadcom Baa2/BBB-/BBB      7Y T+95   BAML/C/JPM/WFS 

10/10 $1.25B *Broadcom Baa2/BBB-/BBB      10Y T+115 BAML/C/JPM/WFS 

10/10 $500M  *Phillips 66 Baa3/BBB Long 10Y T+145   C/MUFG/SCOT/TD

10/10 $150M  *Phillips 66 Baa3/BBB Tap 4.68% '45 T+180  C/MUFG/SCOT/TD

-

MONDAY: US COLUMBUS DAY BOND MARKET HOLIDAY

-

FRIDAY: NO ISSUANCE; WEEK: $24.23B HIGH-GRADE ISSUANCE:

THURSDAY HAD $4.5B IN HIGH-GRADE CORPORATE BOND ISSUANCE:

10/5 $1.5B *PepsiCo. A1/A+       1Y FRN 3ml flat     BAML/BNP/C/GS

10/5 $1.0B *PepsiCo. A1/A+       3.5Y Fxd T+38       BAML/BNP/C/GS

10/5 $1.5B *PepsiCo. A1/A+       10Y T+68            BAML/BNP/C/GS 

10/5 $500M *BCICI A1/A           10Y +130            C/HSBC/STAND

10/5 $2.0B *Fannie Mae priced benchmark 5Y note T+8  GS/NOM/TD

-

WEDNESDAY HAD $2.75B IN HIGH-GRADE CORPORATE ISSUANCE:

10/4 $500M  *General Mills A3/BBB+ RegS/Sr Unsec 5Y+68 GS/JPM/MS

10/4 $500M  *Colbun BBB 144a/RegS      10Y T+165  BAML/SANT/SCOT

10/4 $500M  *Braskem BBB-/BBB- 5Y:3.70  BNP/CRAG/ITAU/MS/SANT/SMBC/UBS

10/4 $1.25B *Braskem " " " long 10Y:4.625% BNP/CRAG/ITAU/MS/SANT/SMBC/UBS

-

TUESDAY HAD $11.5B IN HIGH-GRADE ISSUANCE:

10/3 $3.0B   *Abu Dhabi Aa2/AA/AA            5Y +65 BAML 

10/3 $4.0B   *Abu Dhabi Aa2/AA/AA            10Y +85 CITI 

10/3 $3.0B   *Abu Dhabi Aa2/AA/AA            30Y +130 JPM

10/3 $1.25B  *Enel SpA Baa2/BBB/BBB+ 144a/RegS 5.5Y T+90 

- Bookrunners: BARC/BBVA/C/CS/DB/GS/JPM/MIZ/MS/MUFG/NATW/SANT

10/3 $1.25B  *Enel SpA Baa2/BBB/BBB+ 144a/RegS 10.5Y T+132    

10/3 $500M   *Enel SpA Baa2/BBB/BBB+ 144a/RegS Tap 4.75% 2047 T+147

10/3 $1.5B   *Brazil Ba2/BB/BB RegS Sr unsc 10Y+235 DB/ITAU/SANT

- Brazil global bond buyback: 2019,'20;'21,'24,'25,'26,'27,'30

--

MONDAY HAD $5.48B IN HIGH-GRADE ISSUANCE:

10/2 $300M  *Wisconsin Power & Light A2/A won't grow 10Y T+75 BAML/GS/JPM

10/2 $450M  *Eversource Energy Baa1/A-/BBB+ Tap 2.75% 2022+57 BAML/BARC/MUFG

10/2 $450M  *Eversource Energy Baa1/A-/BBB+ 7Y +77            BAML/BARC/MUFG

10/2 $1.0B  *Kingdom of Jordan B1/BB-      30Y 7.500%         C/JPM

10/2 $350M  *Cleveland Electric Illuminating 10Y+120          GS/SANT/SCOT/SMBC

10/2 $350M  *Nstar Electric A2/A/A+ tap 3.2% 2027 T+72        BARC/BAML/MUFG

10/2 $300M  *John Deere A2/A      21-month FRN 3ml+12         DB/JPM/RBC

10/2 $300M  *John Deere A2/A     Tap 2.65% 2024 issue: +60    DB/JPM/RBC

10/2 $1.88B *United Mexican States A3/BBB+/BBB+ 30Y+175       GS/HSBC/MS

10/2 $400M  *American Campus Communities Baa2/BBB 10Y +130    DB/JPM/WFS

-

9/29 FRIDAY HAD NO HIGH-GRADE CORPORATE/SOVEREIGN BOND ISSUANCE; WK HAD $36.85B

9/28 THURSDAY HAD $4.75B IN HIGH-GRADE SUPRA-SOVEREEIGN & SOVN DEBT:

9/28 $1.25B *Canadian Imperial Bk of Comm A1-/A+/Aa- 3Y +55 CIBC

9/28 $500M  *Canadian Imperial Bk of Comm " " 3Y FRN +31    CIBC

9/28 $2.5B  *Freddie Mac benchmark 3Y priced T+9; MS+23.75     MS/TD/WELLS

9/28 $500M  *EBRD Aaa/AAA/AAA Green Bond July 2021 MS+3 T+33.2 BARC/CA/C

9/28 $1.5B  *Kingdom of Belgium Aa3/AA/AA- Lg 2Y MS-4;1.625% cpn BARC/C/HSBC/SCO

-- Belgian Treasury: Issue swapped to EUR from US$ to "cancel" currency risk

-

--

Scroll Down: More Corporate, Supra/Sovergn/Agency Supply/Calendars

2017 U.S. Agency Calendar Funding Dates 

- Fannie Mae Benchmark Notes: 2017: Jan 4, Jan 25; Feb 23; March 1; March 16;

Apr 5; Apr 12; May 15; May 17; Jun 21; July 12; July 27; Aug 16; Sep 12; Oct 4;

Oct 17, Nov 15; Dec 20th;

- Freddie Mac Reference Notes: 2017: Jan 11, Jan 18; Feb 8, Feb 15; March 20;Apr

18; May 24; June 19; June 26; July 17; July 20; Aug 9; Sept 14; Sept 27; Oct 25;

Nov 13; Dec 6; Dec 14th

- FHLBanks Global Notes: 2017: Jan 19, Feb 13, Feb 28; March 8; March 22; Apr

26; May 10; June 7; June 28; July 5; Aug. 1; Aug. 23; Sept. 6; Oct. 11; Oct 19;

Nov. 8; Nov. 29; Dec. 4

Rumored/Pipeline PMC=Pending Market Conditions, TALK=Market Chatter,

NOTE=Reported Potential Deal RDS=Roadshow to Start, RDE=Roadshow Ended,

SHF=Shelf Filing

--MNI New York Bureau; tel: +1 212-669-6432; email: sheila.mullan@marketnews.com

[TOPICS: MTABLE,M$U$$$,MN$CO$]