US$ High-Grade Credit Supply Pipeline - Sep 18, 2019

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

High Grade issuance evaporates ahead FOMC

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

07/17 $1.5B *Royal Bank of Canada 3Y +31

07/17 $1B *Council of Europe Development Bank (COE) 3Y +11

07/17 $1B *Landwirtschaftliche Rentenbank (RENTEN)2Y +7

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$8.25B priced Monday

07/16 $3B *Alcon Finance $500M 7Y +105, $1B 10Y +120, $500M 30Y +150

07/16 $1.75B *Danske Bank 3NC2 $1B +125, $750M 6NC5 fix/FRN +155

07/16 $1.5B *Caterpillar $500M 10Y +77, $1B 30Y +98

07/16 $1.2B *Bangkok Bank 15NC10 +190

07/16 $500M *Pricoa Global Funding 5Y +70

07/16 $300M *Entergy Texas 30Y +128

Canadian issuance

07/16 C$1B TransCanada Pipeline C$700M 10Y +155, C$300M 30Y tap +232

07/16 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

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08/30 No new issuance last Friday, $10.75B total/week, $89.975B for month

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08/29 $3B *BNG Bank 3Y +18 

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$7B priced Wednesday, $7.75B/wk

08/28 $3B *European Investment Bank (EIB) 3Y +11

08/28 $3B *Kreditanstalt fuer Wiederaufbau (KFW) 5Y +15

08/28 $1B *Japanese Finance Org for Municipalities (JFM) 5Y +48

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Nothing priced Tuesday, $750M/week

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$750M Priced Monday; C$1.5B 

08/26 $750M *Texas Instruments 10Y +75

08/26 C$1.5B CIBC 5Y sr +112

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Nothing new in pipeline Friday after $15.75B priced Monday-Wednesday

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No new issuance Thursday

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$4.1B Priced Wednesday

08/21 $3.5B *World Bank 5Y +13

08/21 $600M *EBRD 3Y SOFR +26, upsized from $500M

----- Canada issuance:

08/21 C$500M *Quebec 10Y +65.5

08/21 C$300M *Nova Scotia 30Y bond +88.5

Canadian Issuance recap since July

08/19 C$1B *Goldman Sachs 3NC2 +65

08/19 C$600M *Province of Ontario 30Y +82

08/14 C$4.25B *Canada Housing Trust No.1 C$2B 5Y FRN, C$2.25B 10Y

08/14 C$400M *Daimler Canada Fincance 4Y +129

07/25 C$1.75B *Bank of Montreal 5Y Sr +92

07/24 C$500M *Export Bank of Canada 5Y +31.5

07/18 C$1.5B *RBC 10NC5 +132

07/18 C$800 *EIB 5Y +3

07/18 C$1.1B *Scotia Capital NHA MBS +46

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$5.5B priced Tuesday, $11.615B/wk

08/20 $1.8B *Development Bank of Japan $800M 5Y +34.5, $1B 10Y +43.4

08/20 $1.5B *NWB (Nederlandse Waterschapbank NV) 2Y +1

08/20 $1B *Bank of New York Mellon 3Y +52

08/20 $600M *ERP 10Y +100, upsized from $400M and launched

08/20 $600M *BBVA 5Y +108

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$6.15B priced Monday

08/19 $3.25B *3M $500M 3Y +37.5, $750M 5Y +65, $1B 10Y +90, $1B 30Y +130

08/19 $1.2B *Roper $500M 5Y +92, $700M 10Y +137

08/19 $700M *Boston Properties 10Y +130

08/19 $550M *Consumers Energy 30Y +105

08/19 $450M *Puget Sound Energy 30Y +120

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08/16 No new supply in the pipeline Friday, Just over $22.5B priced on week

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Only $300M priced Thursday

08/15 $300M *Kimco 30Y +185

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$1.75B priced Wednesday

08/14 $1.75B *Credit Suisse PerpNC7 6.375%

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$9.425B priced Tuesday, $20.35B/wk

08/13 $7B *Exxon 7-part: $750M 3Y +30, $750M 3Y FRN L+33, $1B 5Y +45, 

----- $1B 7Y +65, $1.25B 10Y +75, $750M 20Y +85, $1.5B 30Y +95

08/13 $1.5B *UPS $400M $5Y +65, $400M 10Y +85, $700M 30Y +130

08/13 $500M *TD Ameritrade 10Y +108

08/13 $425M *Regency Centers LP 10Y +130

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$11.1B priced Monday

08/12 $4B *Daimler Finance $1.5B 2.5Y +90, $1.25B 3Y +105, $750M 5Y +125, $500M

10Y +150

08/12 $2B *Oneok Inc $500M 5Y +130. $750M 10Y +180, $750M 30Y +235

08/12 $1.35B *Sherwin Williams $800M 10Y +135, $550M 30Y +170

08/12 $1.2B *CernterPoint Energy $500M 5Y +105, $400M 10Y +135, $300M 30Y +162.5

08/12 $800M *Duke Energy $450M 10Y +82, $350M 30Y +110

08/12 $650M *Ventas Realty 10Y +140

08/12 $500M *Lincoln National WNG 10Y +142

08/12 $300M *Westar Energy WNG 30Y +130

08/12 $300M *Arizona Public Service 10Y +98

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08/09 No new high-grade issuance Friday

08/?? Chatter VW issuance US$/EU

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$8.975B Priced Thursday

08/08 $3.5B *CVS $1B 5Y +120, $750M 7Y +140, $1.75B 10Y +165

08/08 $1.4B *Hartford Financial 10Y +112, 30Y +142

08/08 $1.2B *Welltower 5Y +95, 10Y +145

08/08 $1B *Humana WNG 10Y +140, 30Y +170

08/08 $500M *Magellan Midstream WNG 30Y +172

08/08 $400M *Public Service Electric/Gas 30Y +98

08/08 $675M *DTE WNG 5Y +100

08/08 $300M *PACCAR Financial WNG 5Y +67

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$10.55B priced Wednesday, $28B on week

08/07 $3B *Global Payments $1B 5Y +115, $1.25B 10Y +155, $750M 30Y +195

08/07 $2.25B *BMW Finance $750M 3Y +75, $500M @: 3Y FRN L+79, 5Y +90, 10Y +115

08/07 $2B *McDonalds $1B 10Y +100, $1B 30Y +150

08/07 $1.5B *Lloyds Bank 3Y +85

08/07 $750M *AerCap Ireland Capital 5Y +147

08/07 $750M *NiSource 10Y +130

08/07 $300M *Wisconsin Public Service 30Y +112

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$15.95B Priced Tuesday

08/06 $13B *Occidental $11-$13B est 10-tranche:

----- $500M 1.5Y +95, $500M 2NC1 +125, $1.5B 2Y +105, $1.5B 3NC1 +120, $2B 3Y

+120

----- $3B 5Y +140, $1B 7Y +160, $1.5B 10Y +185, $750M each 20Y +210 & 30Y +225

08/06 $1.5B *UBS 11NC10 +140

08/06 $600M *PPG Ind WNG $300M 5Y +90, $300M 10Y +110

08/06 $550M *Public Srvc of Colorado WNG 30Y +100

08/06 $300M *UDR 12Y +130

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$1.5B priced Monday

08/05 $1.5B #NextEra Energy Capital WNG 2Y +70

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$5.75B Priced Thursday, $25B on week 

08/01 $2B *Sinopec $800M 5Y +88, $700M 10Y +110, $500M 30Y 3.680%

08/01 $1.2B *Southern California Edison WNG $400M 10Y +95, $800M 30Y +130

08/01 $900M *Crown Castle WNG $550M 10Y +122, $350M 30Y +157

08/01 $550M *Ryder WNG 5Y +83

08/01 $1.096B *American Airlines issuing EEC pass-throughs on class AA, A and B

tranches

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

[TOPICS: MTABLE]