US$ High-Grade Credit Supply Pipeline - Oct. 31, 2017

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

10/31 BM     CAF Aa3/AA-/AA- RegS Globl Sr Unsec Tue Long 5Y MS+75s BARC/DB/HSBC

10/31 $500M  NWB Aaa/AAA Tues 1.75% Sept 2019 tap: MS+1s      BAML/DB

10/31 BM     Lloyds Bkng Grp A3/BBB+/A+  6Y/NC5               GS/JPM/LLOYDS/NOM 

10/31 BM     Lloyds Bkng Grp A3/BBB+/A+  11Y/NC10 Fxd-to-FRN  GS/JPM/LLOYDS/NOM 

10/31 BM     Constellation Brands Baa3/BBB- 2Y+60-65;3Y+70-75;5Y+85-90 BAML/JPM

10/31 BM     Amgen Benchmark Baa1/A         10Y T+100s BNP/JPM/MS

10/31 BM     Philip Morris A2/A/A           2Y, 5Y, long 10Y BARC/CS/DB

10/31 BM     Celgene Corp. Baa2/BBB+ Long 5Y, 10Y 30Y BARC/CS/GS/JPM/MS

11/01 TBD    Grump Bimbo Baa2/BBB/BBB Nov1-6 US, EU investor mtgs HSBC/JPM/MIZ

10/31 TBD    Multibank BBB-/BBB- roadshow US,EU,Latam MIZ/UBS

10/30 tbd    Israel Electric Baa2/BBB US investor mtgs Oct.30-Nov3 JPM

10/31 TBD    Hanjin Bank: Potentl US$ deal w/ KEXIM Guar? BNP/DAIWA/GS

10/31 TBD    Philippines Baa2/BBB/BBB- US meetings Oct 6-13 C/DB/MS/SCB

10/31 TBD    Quatar eyed $9B in international bonds; no time set yet

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MONDAY HAD $6.3B IN HIGH-GRADE CORPORATE BOND ISSUANCE

10/30 $1.0B *Ford Mtr Credit Baa2/BBB/BBB 3Y +65      BAML/BARC/CS/GS/MIZ/MS/RBC

10/30 $250M *Ford Mtr Credit  "  "       3Y FRN 3ml+43

BAML/BARC/CS/GS/MIZ/MS/RBC

10/30 $750M *Ford Mtr Credit  "  "       10Y +145     BAML/BARC/CS/GS/MIZ/MS/RBC

10/30 $750M *Citizens Bk Baa1/A-/BBB+    3Y+60        CFG/CS/JPM/MIZ/MS

10/30 $400M *Colgate Palmolive Aa3/AA- sr 5Y T+32            C/HSBC/MS

10/30 $750M *Waste Management Baa2/A-/BBB+ 10Y T+78          BAML/BARC/JPM

10/30 $1.0B *National Bank of Canada 3Y +55                  C/NBCFIN/UBS

10/30 $250M *National Bank of Canada 3Y FRN 3ml+33           C/NBCFIN/UBS

10/30 $300M *Markel Corp. Baa2/BBB/BBB+ 10Y +115             C/WFS

10/30 $300M *Markel Corp. Baa2/BBB/BBB+ 30Y +145             C/WFS

10/30 $550M *NextEra Energy Baa2/BBB/BBB RegS 60Y/NC10 4.8%  BARC/CS/GS/JPM 

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FRIDAY HAD $1.5B IN HIGH-GRADE CORPORATE BOND ISSUANCE; WEEK HAD $42.6B ISSUANCE

10/27 $1.0B *Santander UK Baa1/BBB/A 11/NC10 Fxd-to-FRN+140 BAML/GS/NOM/SANT/UBS

10/27 $300M *Santander UK Plc Aa3/A 3Y FRN +70          BAML/GS/NOM/SANT/UBS

10/27 $1.2B *Santander UK Plc Aa3/A 3Y fixed: T+52 bps  BAML/GS/NOM/SANT/UBS

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THURSDAY HAD $5.0B IN HIGH-GRADE CORPORATE/SOVEREIGN ISSUANCE; WEEK: $41.1B

10/26 $1.0B *China MOF $2B deal Oct26: RegS $1B 5Y+15 bp; 2.196%

10/26 $1.0B *China MOF $2B deal Oct26: RegS $1B 10Y+25 bp; 2.687%

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

- China last sold US$ debt in 2004: Was $1.7B $/EUR 5Y, 7Y notes 

- The new US dollar bond will trade on HKSE; drew $22B order books (BBG) 

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

10/26 $500M *Texas Instruments Inc A1/A+//A+ 10Y T+58 BAML/BARC/JPM

10/26 $600M *Capital One Fincl Corp: 3Y+68 BAML/COF/JPM/MS/RBC

10/26 $400M *Capital One Fincl Corp: 3Y FRN 3ml+45 BAML/COF/JPM/MS/RBC

10/26 $1.5B *Capital One Financial Corp: 7Y+105 BAML/COF/JPM/MS/RBC

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WEDNESDAY HAD $5.8B IN HIGH-GRADE ISSUANCE; WEEK: $36.1B

10/25 $2.5B *Sweden Aaa/AAA/AAA  priced 3Y MS-6    BAR/C/JPM

10/25 $2.0B *BNG Aaa/AAA/AA+     Wed 2Y MS+2      BMO/DAIWA/DB/TD 

10/25 $800M *Mongolia Caa1/B-/B- 144a/RegS 5.5% 5.625% CS/DB/JPM

10/25 $500m *Korea Hsg Fin Corp Aa2/AA- covered 5Y+100 BNP/C/ING/STAND

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TUESDAY HAD $16.95B IN HIGH-GRADE CORPORATE BOND ISSUANCE; WEEK $30.3B

10/24 $3B    *European Stability Mechanism Aa1/AAA 5Y MS+10 C/DB/JPM

- This is the ESM's inaugural US$ 5-year benchmark note

10/24 $1B    *Canada Pensn Pln Invst Brd Aaa/AA 144a 10Y+37.95 BAML/BNP/DB/TD

10/24 $1.5B  *ADB Aaa/AAA/AAA global 10Y MS+22 C/DAIWA/HSBC/JPM

10/24 $350M  *CCDJ Aa2/A+/AA- Tues 3Y +55             BARC/UBS

10/24 1.15B  *CCDJ Aa2/A+/AA- Tues 3Y FRN 3ml+33      BARC/UBS

10/24 $3.25B *Goldman Sachs 5Y/NC4 UST+83            GS

10/24 $1.25B *Goldman Sachs 5Y/NC4 FRN 3ml+78        GS

10/24 $2.5B  *Goldman Sachs 21Y/NC20 T+108           GS

10/24 $400M  *KEXIM        3Y+90               BAML/BNP/C/CACIB/MUFG

10/24 $1.0B  *KEXIM        5Y+100              BAML/BNP/C/CACIB/MUFG

10/24 $600M  *KEXIM        5Y FRN3ml+9.25      BAML/BNP/C/CACIB/MUFG

10/24 $450M  *Boral Finance Baa2/BBB 5Y+105    C/JPM 

10/24 $500M  *Boral Finance Baa2/BBB 10.5Y+140 C/JPM

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MONDAY HAD A BUSY $13.35B IN HIGH-GRADE ISSUANCE:

10/23 $1.75B *Citi Baa1/BBB+/A 5Y+77                  C 

10/23 $400M  *Citi Baa1/BBB+/A 5Y FRN 3ml+69          C 

10/23 $2.25B *Citi Baa1/BBB+/A 11Y/NC10+115           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 $600M  *Procter & Gamble Aa3/AA- 2Y T+20   DB/HSBC/MS 

10/23 $600M  *Procter & Gamble Aa3/AA- 3Y T+25   DB/HSBC/MS 

10/23 $600M  *Procter & Gamble Aa3/AA- 30Y T+68  DB/HSBC/MS 

10/23 $1.5B  *American Express 3Y fixed T+55     BARC/DB/RBC/WFS

10/23 $500M  *American Express 3Y FRN 3ml+33     BARC/DB/RBC/WFS

10/23 $1.65B *American Express 7Y T+80           BARC/DB/RBC/WFS

10/23 $1.0B  *BB&T A2/A-/A+ Long 3Y T+47         BB&T/GS/MS/UBS

10/23 $300M  *BB&T A2/A-/A+ Long 3Y FRN 3ml+22   BB&T/GS/MS/UBS

10/23 $1.0B  *BB&T A2/A-/A+ 7Y T+65              BB&T/GS/MS/UBS

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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

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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

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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

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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 

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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

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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

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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

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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

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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$CO$]