US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 02/06 $4B #Nextera $1.25B 5Y +110, $600M 7Y +125, $1B 10Y +140, $1.15B 30Y +155
• 02/06 $3B #T-Mobile $1B 5Y +118, $1.25B +10Y +143, $750M 30Y tap +165a
• 02/06 $2B #Northrop Grumman $1B 10Y +108, $1B 30Y +128
• 02/06 $1.5B #Deutsche Bank 11NC10 +345
• 02/06 $1.2B #Micron Technology 7Y tap +210a, 10Y +225a
• 02/06 $800M #Becton Dickinson 5Y +188
• 02/06 $Benchmark Comcast investor calls
• 02/06 $Benchmark Intel investor calls
• Expected Tuesday:
• 02/07 $Benchmark Export Development bank Canada (EDC) 5Y SOFR+41a
• 02/07 $Benchmark Swedish Export Bank (SEK) 7Y SOFR +48a
• 02/07 $Benchmark World Bank (IBRD) 7Y SOFR +49a
• 02/07 $Benchmark CDP Fncl 3Y +60a
• 02/07 $Benchmark EIB 10Y SOFR+50a
• 02/07 $1.25B Alliant Holdings 5NC2
• Chatter for new supply in near future:
• 02/-- $Benchmark OPT Bank (Hungary)
• 02/03 No new issuance Friday, $11.15B total first two days of February
• 
  
  
• $10.45B Priced Thursday
• 02/02 $5.25B *Oracle $750M 5Y +110, $750M 7Y +130, $1.5B 10Y +155, $2.25B 30Y +203
• 02/02 $1.6B *MPLX $1.1B 10Y +170, $500M 30Y +212.5
• 02/02 $1.5B *PNC Financial PerpNC7 6.25%
• 02/02 $1.1B *National Rural Utilities $600M 3Y +70, $200M tap 5Y +95, $300M tap 10Y +123
• 02/02 $1B *Alexandria Real Estate $500M 12Y +137.5, $500M 30Y +160
• Muted Wednesday supply
• 02/01 $700M *Dominican Rep 8Y 7.0%

January kicked off 2023 with total of $231.425B high-grade corporate issuance, highest since March '22.

Total 2022 high-grade corporate US$ issuance at $1.284T, well off $1.879T in 2021 and record $2.196T for 2020