US$ Credit Supply Pipeline

Jun-03 18:06By: Bill Sokolis
US

June corporate issuance underway with over $10B Monday

Date $MM Issuer (Priced *, Launch #)

6/3 $2.5B #National Australia Bank (NAB) $900M 3Y +47, $850M 3Y SOFR+62, $750M 10Y +78

6/3 $1.5B #Royalty Pharma $500M 5Y +100, $500M 10Y +127, $500M 30Y +152

6/3 $1.3B #Burlington Northern Sante Fe 30Y +98

6/3 $800M #Hyatt $450M 5Y +95, $350M 10Y +125

6/3 $800M #Baltimore Gas WNG $400M 10Y +93, $400M 30Y +110

6/3 $750M #Regions Financial 6NC5 +130

6/3 $600M #GATX $200M 10Y +130, $400M 30Y +150

6/3 $600M #Southwestern Public Service 30Y +150

6/3 $550M #Brighthouse $150M 2027 tap +100, $400M 5Y +125

6/3 $550M #NY Life 5Y +62.5 (SOFR leg dropped)

6/3 $500M #BGC Group Inc 5Y +220

6/3 $500M #Metlife 10Y +95

6/3 $Benchmark Nomura 5Y SOFR+39a

6/3 ** Reverse Yankee issuance expected: E500 Philip Morris Int +6Y +135a

May issue Tuesday:

6/4 $Benchmark Council of Europe Development Bank 3Y SOFR+26a

6/4 $Benchmark Provence of British Colombia 10Y SOFR+80

6/4 $Benchmark Kommunalbanken 2027 SOFR+35a

6/4 $Benchmark IDA 5Y SOFR+39a



5/31 No new US$ corporate bond issuance Friday, $26.85B total/wk, $160.85B for month -- just over $159.33B total for April, but well off $254.2B total for February and $295.35B total for January (highest since April 2020).

May'24$160.85B
Apr'24$159.33B total for the month
Mar'24$186.625B; $736.175B Q1
Feb'24$254.2B
Jan'24$295.35B, highest since April 2020
Dec'23$28.1B; $1.560T total of 2023 vs. $1.463T for 2022
Nov'23$131.7B
Oct'23$108.3B
Sep'23$165.25B; $348.775B Q3
Aug'23$79.45B
Jul'23$104.075B
Jun'23$113.195B; $403.605B Q2
May'23$168.22B
Apr'23$122.19B
Mar'23$122.05B; $540.175B Q1
Feb'23$186.7B
Jan'23$231.425B
Dec'22$7.75B; $1.463T total for 2022 vs. $1.879T in 2021
Nov'22$115.9B
Oct'22$51.85B
Sep'22$105.25B; $1.287T through Q3
Aug'22$168.5B
Jul'22$100.6B
Jun'22$80.85B; $913.58B first half of 2022
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 ; $1.879T total for 2021 vs. Record $2.197T total for 2020
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 $2.197T total for 2020
Dec'20$52.24B
Nov'20$126.83B
Oct'20$111.65B
Sep'20$207.82B
Aug'20$204.50B
Jul'20$93.50B
Jun'20$180.50B
May'20$270.90B
Apr'20$401.32B
Mar'20$275.48B
Feb'20$107.50B
Jan'20$165.18B