US$ High-Grade Credit Supply Pipeline - Sep 19, 2019

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

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 $Benchmark VW Grp of America 5-part: 2Y +110a, 2Y FRN L equiv, 3Y +125a,

5Y +140a, 7Y +165a

09/19 $Benchmark PayPal 3Y +75, 3Y FRN L equiv, 5Y +95a, 7Y +115a, 10Y +130

09/19 $500M European Bank for Reconstruction and Development (EBRD) 5Y +16

09/19 $400M Allegion WNG 10Y +180a

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

On tap for Friday:

09/20 $Benchmark Province of British Colombia 5Y +23

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]