US$ Credit Supply Pipeline

• Date $MM Issuer (Priced *, Launch #)
• 03/24 No new issuance Friday, $22.4B total for week
• $13.65B Priced Thursday
• 03/23 $6.5B *United Health $1.25B +5Y +88, $1.5B 10Y +118, $2B 30Y +143, $1.75B 40Y +158
• 03/23 $2B *Medtronic $1B 5Y +87.5, $1B 10Y +115
• 03/23 $1.5B *Nutrien $750M 5Y +150, $750M 30Y +215
• 03/23 $1.2B *Prologis $750M 10Y +140, $450M 30Y +160
• 03/23 $900M *Public Service E&G $500M 10Y +122, $400M 30Y +142
• 03/23 $800M *Marriott Int 6Y +170
• 03/23 $750M *AIG (American International Group) 10Y +210
• 03/22 No new US$ issuance Wednesday
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• $7.1B Priced Tuesday
• 03/21 $1.8B *Republic of Panama $800M 2035 tap +255.5, $1B 31Y +312.5
• 03/21 $1.2B *Republic Services $400M 6Y +120, $800M 11Y +145
• 03/21 $1B *Metropolitan Life 10Y +158
• 03/21 $750M *NiSource 5Y +155
• 03/21 $650M *Brown-Forman 10Y +120
• 03/21 $500M *Extra Space Storage5Y +200
• 03/21 $500M *Duke Energy Indiana WNG 30Y +170
• 03/21 $500M *Indiana Michigan Power WNG 30Y +190
• $1.65B Priced Monday
• 03/20 $750M *Duke Energy Ohio $375M 10Y +175, $375M 30Y +2200
• 03/20 $900M *CenterPoint Energy Houston $600M 10Y +150, $300M 30Y +165
• 03/13-0317 No new corporate bond issuance for the week, several interested parties remain sidelined due to market volatility tied to banking stocks sell-off.
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• $2.55B Priced Thursday, $44.05B total on week
• 03/09 $1.25B *HSBC 2Y +80 (2Y SOFR leg dropped)
• 03/09 $700M *AEP Transmission 30Y +157
• 03/09 $600M *OCI 10Y +280
• $10.0B Priced Wednesday
• 03/08 $7.75B *Kenvue: $750M 2Y +45, $750M 3Y +60, $1B 5Y +75, $1B 7Y +85, $1.25B 10Y +95, $750M 20Y +100, $1.5B 30Y +120, $750N 40Y +135
• $2.25B *Turkiye 6Y 9.5%
• $15.7B Priced Tuesday
• 03/07 $3B *Nestle Holdings $1B 3Y +55, $850M 5Y +70, $500M 7Y +80, $650M 10Y +90
• 03/07 $2B *African Development Bank (AFDB) 5Y SOFR+33
• 03/07 $2B *Islamic Development Bank (ISDB) 5Y Sukuk SOFR+55
• 03/07 $1.7B *HP Enterprise $1.3B 1.5Y +95, $400M 3NC1 +140
• 03/07 $1.5B *Nordic Inv Bank (NIB) 5Y SOFR+30
• 03/07 $1.4B *Texas Instruments $750M 10Y +95, $650M 30Y +115
• 03/07 $1.25B *TransCanada Pipelines $850M 3NC1 +150, $400M 3NC1 SOFR+152
• 03/07 $800M *Magna Int, $300M 3NC1 +125, $500M 10Y +155
• 03/07 $750M *CCDJ 5Y +140
• 03/07 $700M *Harley-Davidson 5Y +225
• 03/07 $600M *Caterpillar Fncl 2Y +40 (drops 2Y SOFR leg)
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• $15.8B Priced Monday
• 03/06 $3B *Enbridge $700M 3NC1 +135, $2.3B 10Y +173
• 03/06 $1.75B *Rio Tinto Finance $650M 10Y +105, $1.1B 30Y +130
• 03/06 $1.5B *Mastercard $750M 5Y +62.5, $750M 10Y +87.5
• 03/06 $1.5B *CBA $1B 3Y +70, $500M 3Y SOFR+75
• 03/06 $1.5B *Warnermedia 3NC1 +178
• 03/06 $1B *Santander 6NC5 +223
• 03/06 $1B *Duke Energy WNG $500M 10Y +128, $500M 30Y +148
• 03/06 $800M *San Diego Gas & Electric 30Y +150
• 03/06 $750M *Ameriprise 10Y +120
• 03/06 $700M *Principal Financial $400M 10Y +140, $300M 30Y +160
• 03/06 $600M *Air Lease 5Y Sukuk +185
• 03/06 $600M *Advance Auto $300M 3Y +130, $300M 5Y +170
• 03/06 $600M *Marsh & McLennan 30Y +157
• 03/06 $500M *Avnet 5Y +205
• 03/03 No new issuance Friday, March kicks off w/ $25.3B over two days
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• $14B Priced Thursday
• 03/02 $7B *HSBC $2B 6NC5 +185, $2.25B 11NC10 +220, $2.75B 21NC20 +210
• 03/02 $2B *EBRD 5Y SOFR+31
• 03/02 $2B *LBank 3Y SOFR+26
• 03/02 $2B *FHLB 2Y Global +15
• 03/02 $500M *Norinchukin Bank 5Y +110
• 03/02 $500M *Verisk 10Y +200a
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• $11.3B priced Wednesday
• 03/01 $2.5B *Morocco 5Y +195, 10.5Y +260
• 03/01 $2B *Bank of England 3Y +13
• 03/01 $2B *Sumitomo Trust $1B 3Y +110, $500M 3Y SOFR+112, $500M 5Y +128
• 03/01 $1.5B *Five Corners $800M 10Y +180, $700M 30Y +205
• 03/01 $1.3B *Simon Property $650M each: 10Y +165, 30Y +195
• 03/01 $750M *Stanley Black & Decker $350M 3NC1 +165, $400M 5Y +175
• 03/01 $750M *Eversource WNG 5Y +123
• 03/01 $500M *KeySpan Gas 10Y +200

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