US$ Credit Supply Pipeline
Oct-21 17:41By: Bill Sokolis
DM Markets Coverage+ 3
- Date $MM Issuer (Priced *, Launch #)
- 10/21 No new US$ corporate bond issuance Friday, $29.25B total on the week
- $4.95B Priced Thursday,
- 10/20 $2.5B *RBC $1.15B 2Y +105, $1.35B5Y +160
- 10/20 $1B *Uruguay 12Y +170
- 10/20 $850M *National Rural Utilities $500M 3Y +85, $350M +10Y +158
- 10/20 $600M *Citizens Bank 3NC2 +145
- $8.5B Priced Wednesday
- 10/19 $4B *Lockheed Martin (LMT) $500M 3Y +50, $750M 5Y +80, $1B +10Y +120, $1B 32Y +160, $750M 41Y +180
- 10/19 $2B *Diageo Capital $500M 3Y +70, $750M 5Y +100, $750M +10Y +145
- 10/19 $1.5B *Export Finance Australia 5Y SOFR+66
- 10/19 $1B *Kommuninvest WNG 3Y SOFR+39
- $12.95B Priced Tuesday
- 10/18 $5B *Saudi Arabia $2.5B 6Y Sukuk +105, $2.5B 10Y +150
- 10/18 $3B *US Bancorp $1.5B 4NC3 +130, $1.5B 11NC10+185
- 10/18 $2.5B *Bank of NY Mellon $1B 6NC5 +160, $1.5B 11NC10 +185
- 10/18 $1B *Kommunalbanken (KBN) 3Y SOFR+41
- 10/18 $850M *AIA Group 5Y +150
- 10/18 $600M *Industrial Bank Korea (IBK) 2Y social +70
- Seeking higher yield? Cruise line caveat emptor:
- 10/18 $1.25B Carnival Corp 5.5NC2.5 11.25%a
- $2.85B Priced Monday
- 10/17 $1.1B *Diamondback Energy (FANG) +10Y +230
- 10/17 $750M *Bank of Nova Scotia 60NC5 8.625%
- 10/17 $400M *Nevada Power 30Y +190
- 10/17 $600M *BAT Capital 10Y +380
- 10/17 $Benchmark OPEC Fund investor call
- $6.5B Priced Friday - MS 3Pt sole issuer
- 10/14 $6.5B *Morgan Stanley $1.25B 4NC3 +165, $2.25B 6NC5 +205, $3B 11NC10 +235
- 10/10-10/13 No new issuance heading into Q3 earnings cycle
- 10/07 No new issuance Friday, $18.65B total for week
- $10.25B Priced Thursday, $18.65B/wk
- 10/06 $4B *Enel Finance $750M 3Y +275, $1B 5Y +325, $1.25B 10Y +400, $1B 30Y +440
- 10/06 $2.5B *Turkey 3Y Sukuk 9.758%
- 10/06 $1.75B *TD Bank 60NC5 8.125%
- 10/06 $1.25B *GM Fncl 3Y +185
- 10/06 $750M *AIB Group 4NC3 +335
- $5.25B Priced Wednesday
- 10/05 $2B *Philippines $500M 5Y +120, $750M 10.5Y +185, $750M 25Y 6.1%
- 10/05 $1.25B *Cargill $750M 3Y +75, $500M 10Y +140
- 10/05 $1B *John Deere $600M 2Y +43, $400M 7Y +100
- 10/05 $1B *CCDJ 3Y SOFR +87
- $900M Priced Tuesday
- 10/04 $900M *DNB Bank 4NC3 +180
- $2.25B Priced Monday
- 10/03 $1B *Southern Co $500M 3Y +110, $500M 10Y +205
- 10/03 $750m Realty Income 10Y +200
- 10/03 $500M *EDP Finance 5Y Green +245
Total 2021 high-grade corporate US$ issuance at $1.879T 2021 vs. record $2.196T for 2020
| Sep'22 | $105.25B |
| Aug'22 | $168.5B |
| Jul'22 | $100.6B |
| Jun'22 | $80.85B |
| May'22 | $103.225B |
| Apr'22 | $175.2B |
| Mar'22 | $258.425B (Highest since May 2020) |
| Feb'22 | $92.62B |
| Jan'22 | $203.26B |
| Dec'21 | $62.2B vs. $52.24B Dec'20 total; Q4 total $344.875B; $782.51B H2 2021 |
| Nov'21 | $133.875B |
| Oct'21 | $148.8B |
| Sep'21 | $215.635B; Q3 total $437.64B |
| Aug'21 | $97.12B |
| Jul'21 | $124.885B |
| Jun'21 | $136.35B; Q2 total $478.875B |
| May'21 | $159.125B |
| Apr'21 | $183.4B |
| Mar'21 | $232.62B; Q1 total $618.03B |
| Feb'21 | $157.86B |
| Jan'21 | $227.55B |
| 2020 Recap: | Record $2.196T |
| Dec'20 | $52.24B; $796.54B H2 2020 |
| Nov'20 | $126.83B |
| Oct'20 | $111.65B |
| Sep'20 | $207.82B |
| Aug'20 | $204.50B |
| Jul'20 | $93.50B |
| Jun'20 | $180.50B; Record $1.40T H2 2020 |
| May'20 | $270.90B |
| Apr'20 | $401.32B |
| Mar'20 | $275.48B |
| Feb'20 | $107.50B |
| Jan'20 | $165.18B |
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