Free Trial

US$ High-Grade Credit Supply Pipeline - Oct. 23, 2017

Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
10/23 BM     Citi Baa1/BBB+/A 5Y+90s; 5Y FRN L-Eqv    C 
10/23 BM     Citi Baa1/BBB+/A 11Y/NC10+120s High      C
10/23 $750M #Honeywell Intl A2/A/A RegS/Sr Unsec 2Y+28 BAML/BARC/C/GS 
10/23 $450M #Honeywell Intl " RegS/Sr Unsec 2Y FRN 3ml+4 BAML/BARC/C/GS 
10/23 BM     Procter & Gamble Aa3/AA- 2Y, 3Y, 30Y  DB/HSBC/MS 
10/23 BM     American Express 3Y fixed/FRN; 7Y BARC/DB/RBC/WFS
10/23 BM     BB&T A2/A-/A+ Long 3y Fixed/FRN; 7Y BB&T/GS/MS/UBS 
10/23 $1B  Canada Pensn Pln Invstmt Brd Aaa/AA 144a Tues 10Y BAML/BNP/DB/TD
10/24 BM     ADB Aaa/AAA/AAA global taking IOIs; MS+24s 10Y note
C/DAIWA/HSBC/JPM
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 notes; 
- The new US dollar bond will trade on HKSE 
- S&P downgraded China rating by one step Sep 21 to A+, stable outlook
10/24 $3B    Europn Stab.Mechnsm(ESM) Aa1/AAA No Grow:Tue 5Y MS+12s C/DB/JPM
- Will be the inaugural US$ 5-year benchmark note
10/23 TBD    Hanjin Bank: Potentl US$ deal w/ KEXIM Guar? BNP/DAIWA/GS
10/23 TBD    Philippines Baa2/BBB/BBB- US meetings Oct 6-13 C/DB/MS/SCB
10/23 TBD    Quatar eyed $9B in international bonds; no time set yet
- 
FRIDAY: $1.0B HIGH-GRADE US$ CORPORATE BOND ISSUANCE; WEEK:$20.85B
10/20 $500M *Glencore Baa2/BBB    5Y+107      BARC/C/DB/SG
10/20 $500M *Glencore Baa2/BBB    10Y+160     BARC/C/DB/SG
-
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$CO$]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.