US$ Credit Supply Pipeline
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 |
