US$ Credit Supply Pipeline: Late Summer Malaise

$6.25B Priced Wednesday, $12.05B/W

• Date $MM Issuer (Priced *, Launch #)
• 08/27 $3B *Ontario 5Y SOFR +52
• 08/27 $2B *ESM 2030 WNG +39
• 08/27 $1.25B *Saudi Awwal 10NC5 +220
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• $4.3B Priced Tuesday
• 08/26 $1B *OCBC 10NC5 +80
• 08/26 $1B *Bank Saudi Fransi 10NC5 +200
• 08/26 $800M *Sempra 30.5NC5.25 6.375%
• 08/26 $500M *BOC Aviation 5.5Y +58
• 08/26 $500M *Mitsui & Co 5Y +63
• 08/26 $500M *JERA Co 5Y +78
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• $1.5B Priced Monday
• 08/25 $1.05B *Skandinaviska Enskilda Banken AB (SEB) $750M 5Y +73, $300M 5Y SOFR+106
• 08/20 $2B *Quebec 10Y SOFR+89
• 08/20 $1B *Nordic Investment Bank WNG 3Y SOFR+30
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• $7.6B Priced Wednesday, $37.85B/wk
• 08/20 $3B *ADB 5Y SOFR+39
• 08/20 $3B *British Columbia 5Y SOFR+53 (books were over $8.7B)
• 08/20 $1B *Nordea Bank 5Y +50, 5Y SOFR+83
• 08/20 $600M *Athene Global 10Y +125
•  
• $15.9B Priced Tuesday
• 08/19 $5B *IBRD (World Bank) 10Y SOFR+60
• 08/19 $4B *EIB 5Y SOFR+39
• 08/19 $1.25B *Allianz Perp-NC8.7 6.55%
• 08/19 $1B *DBJ 3Y SOFR+50
• 08/19 $1B *MetLife $600M 3Y +45, $400M 3Y SOFR+70
• 08/19 $750M *CCDJ 5Y +75
• 08/19 $700M *National Rural Utilities 3Y +48
• 08/19 $600M *Pricoa Global Funding 7Y +73
• 08/19 $600M *MassMutual 10Y +78
• 08/19 $500M *Hanover Insurance 10Y +120
• 08/19 $500M *American National Grp 30NC5 7%
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• $15.35B Priced Monday
• 08/18 $6.75B *Eli Lilly $1B 3Y +28, $750M 3Y SOFR+53, $750M +5Y +40, $1B 7Y +48, $1.25B 10Y +57, $1B 30Y
• 65, $1B 40Y +73
• 08/18 $2B *Charter Communications $1.25B 10Y +152, $750M 30Y +177
• 08/18 $1.5B *Marriott Intl $400M 2Y +47, $500M 6Y +85, $600M 10Y +105
• 08/18 $1.5B *RGA Global $800M 3Y +65, $700M 7Y +95
• 08/18 $1.3B *McDonald's $550M +5Y +55, $750M +10Y +72
• 08/18 $1B *Corebridge Global $500M 3Y +58, $500M 7Y +88
• 08/18 $800M *Northwestern Mutual $500M 3Y +40, $300M 3Y SOFR+66
• 08/18 $500M *Ecolab WNG 10Y +67
•  
• 08/14-15 No new US$ debt issuance Thursday-Friday, $39.45B priced on week
•  
• $10.15B Priced Wednesday
• 08/13 $2.5B *Transdigm $500M 8.5NC3 split Sr Sec/Sub
• 08/13 $2.2B *Block $1.2B 5NC2 5.625%, $1B 8NC3 6%
• 08/13 $1.5B Temasek Financial $750M 2Y +15, $750M 2Y SOFR+38
• 08/13 $1.3B *GLP Capital $600M +7Y +133, $700M 12Y +160
• 08/13 $1B *Carlisle $500M 10Y +105, $500M 15Y +137.5
• 08/13 $1B *Cardinal Health $600M 5Y +75, $400M 10Y +95
• 08/13 $650M *Brookfield Finance +10Y +110
•  
• $11.3B Priced Tuesday
• 08/12 $4B *Merck $750M 3Y +45, $1B +5Y +58, $1B +7Y +68, $1.25B +10Y +78
• 08/12 $1.75B *Qnity Electronics $1B 7NC3 5.75%, $750M 8NC3 6.25% 
• 08/12 $1.5B *NXP $500M 3Y +60, $300M 7Y +85, $700M 10Y +98
• 08/12 $1.5B Simon Property $700M 5Y +62, $800M 10Y +90
• 08/12 $1B *Wynn Macau 8.5NC3 6.75%
• 08/12 $950M *Arizona Public Schools $250M 8/34 tap +90, $700M 30Y +105 
• 08/12 $600M *Invitation Homes +7Y +100
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• $18B Priced Monday
• 08/11 $5.5B *Chevron $500M 2Y +20, $650M 3Y +32, $600M 3Y SOFR+57, $1.2B 5Y +50, $400M 5Y SOFR+82,
• 1.25B 7Y +52, $900M 10Y +62
• 08/11 $4B *CVS $750M 7Y +102, $1.5B 10Y +117, $1.25B 30Y +135, $500M 40Y +142
• 08/11 $2B *Energy Transfer $1.2B 30NC5 6.5%, $800M 30NC10 6.75%
• 08/11 $1.85B *Zoetis $850M 3Y +45, $1B 10Y +75
• 08/11 $1.45B *Caterpillar $750M 3Y +38, $700M 3Y SOFR+64
• 08/11 $700M *Principal Life $400M 3Y +55, $300M 3Y SOFR+81
• 08/11 $500M *TPG +10Y +120
• 08/11 $500M *Zions 3NC2 +95
• 08/11 $500M *HF Sinclair 7Y +160
• 08/11 $500M *Lincoln Financial 5Y +82
• 08/11 $500M *Packaging Corp 10Y +93
•  
• 08/08 $2.7B *PetSmart Inc $1.95B 7NC3 7.5%, $750M 8NC3 10%
• 08/08 $750M *WR Grace Holdings 7NC3 6.625% (upsized from $500M)
•  
• $11.45B Priced Thursday, $47.675B/wk
• 08/07 $4.5B *MPLX $1.25B +5Y +103, $750M +7Y +118, $1B 10Y +130, $1.5B 30Y +150
• 08/07 $2B *Roper $500M 3Y +55, $50M 5Y +70, $1B 10Y +90
• 08/07 $1.5B *Verisk $750M 5Y +72, $750M +10Y +92
• 08/07 $1B *Cloud Software Group 8NC3 6.625%
• 08/07 $750M *Ball Corp 8NC 5.5%
• 08/07 $650M *PennyMac 8.5NC3 6.75%
• 08/07 $550M *Snap Inc 8NC3 7%a
• 08/07 $500M *Apollo Global WNG 10Y +95
• $8.65B Priced Wednesday
• 08/06 $3B *Oneok $750M 7Y +103, $1B 10Y +122, $1.25B 30Y +147
• 08/06 $2.75B *BMW US $750M 2Y +50, $500M 2Y SOFR+71, $1B 5Y +75, $500M 10Y +100
• 08/06 $900M *American Water Capital 30Y +90
• 08/06 $700M *Match Group 8NC3 6.125%
• 08/06 $500M *PPL Electric WNG 30Y +77
• 08/06 $800M *Extra Space Storage +7Y +100
• 08/06 $Benchmark PetSmart 7NC3, 8NC3 investor calls
•  
• $9.9B Priced Tuesday, $27.575B/wk
• 08/05 $2B #Standard Chartered 11NC10 +120
• 08/05 $1.9B #Daimler Truck $550M 2Y +60, $750M +5Y +92, $600M +7Y +105
• 08/05 $1.25B #Tennessee Valley Authority 5Y +20
• 08/05 $1.25B #MSCI 10Y +112.5
• 08/05 $1B #Macquarie Bank 11NC10 +145
• 08/05 $500M *Healthpeak LLC +7Y +92
• 08/05 $500M *Essential Utilities 10Y +107
• 08/05 $500M *CNA Financial WNG 10Y +103
• 08/06 $500M *Travel + Leisure 8NC3 6.125%
• 08/05 $500M *Freedom Mortgage 7.75NC3 5.785%
•  
• $17.675B Priced Monday
• 08/04 $3.25B *Barclays $1.5B 4.25NC3.25 +83, $500M 4.25NC3.25 SOFR+108, $1.25B 21NC10 +110
• 08/04 $2B *FISERV $1B +5Y +87, $1B 10Y +107
• 08/04 $2B *Level 3 Financing 8.5NC3 7%, upsized from $1.25B
• 08/04 $1.525B *Dominion Energy $825M 30.5NC5.25 6%, $700M 30.5NC10.25 6.2%
• 08/04 $1.5B *Quanta Services $500M Each: 3Y +65, +5Y +80, 10Y +93
• 08/04 $1.25B *Milrose Properties 5NC2 6.375%
• 08/04 $1.25B *Chub Holdings 10Y +70
• 08/04 $1B *Public Service of Colorado $800M 10Y +97, $200M 2055 Tap +102
• 08/04 $1B *Altria $500M 5Y +85, $500M 10Y +112
• 08/04 $900M *KKR & Co. 10Y +93
• 08/04 $700M *Kentucky Utilities 30Y +105
• 08/04 $700M *Louisville Gas & Electric 30Y +105
• 08/04 $600M *CenterPoint Houston 10Y +80
•  
• 07/31-08/01 No new corporate debt issued Friday, $28.39B on week. July finishes with $130.54B total corporate debt ssuance