Think

Bond New Issues: Week Ending January 20, 2017

Posted by Michael Manna on Jan 23, 2017 10:35:45 AM
Find me on:

North American Investment Grade debt was more than quadruple the amount of that issued in high yield this week, with investment grade debt totaling $36.55 billion and high yield debt totaling $8.649 billion. The International Bank for Reconstruction and Development (IBRD) led investment grade deals with a new issue of unsecured notes totaling $5 billion. This represented 13.7% of total investment grade debt issued this week. Financial sector stocks also had a big week with Morgan Stanley (NYSE: MS) having three new issues of senior unsecured notes totaling $7.0 billion, Bank of America (NYSE: BAC) with four new issues of senior unsecured notes totaling $6.75 billion, and Wells Fargo Securities (NYSE: WFC) with two new issues of senior unsecured notes totaling $5.0 billion.

Charter Communications (NasdaqGS: CHTR) and Ardagh Packaging Finance PLC led high yield deals this week, with both companies issuing senior unsecured notes totaling $1 billion, about 30% of total high yield debt issued this week.

Click to enlarge - Amount Issued Week of January 20, 2017

 High Yield New Issuance - Largest Deals this Week (USD):

  • CCO Holdings LLC (USD) 5.125% 5/1/2027 (144A / Reg S) - 1,000 MM
  • Ardagh Packaging Finance PLC (USD) 6% 2/15/2025 (144A / Reg S) - 1,000 MM
  • Vector Group LTD (USD) 6.125% 2/1/2025 (144A / Reg S) - 850 MM
  • Terex Corp. (USD) 5.625% 2/1/2025 (144A / Reg S) - 600 MM
  • Koppers Holdings Inc. (USD) 6% 2/15/2025 (144A / Reg S) - 500 MM

Investment Grade New Issuance - Largest Deals this Week (USD):

  • International Bank Recon & Dev. (USD) 2% 1/26/2022 - 5,000 MM
  • Wells Fargo & Co. (USD) 3.069% 1/24/2023 - 3,750 MM
  • Morgan Stanley (USD) 3.625% 1/20/2027 - 3,000 MM
  • Bank of America Corp. (USD) 3.824% 1/20/2028 - 2,500 MM
  • Morgan Stanley (USD) 4.375% 1/22/2047 - 2,500 MM

 


For access to all High Yield and Investment Grade new issues, request a free trial of AdvantageData today.


 

Topics: High Yield, Investment Grade, New Issues

From the leader in fixed income pricing and data comes market analytics and information you need now.

AdvantageData is your fixed income solution for pricing, analytics, reports, and insight on approximately:

  • 390,000+ U.S. and international corporate bonds
  • Over 5,200 CDS reference entities
  • Over 12,600 syndicated loans
  • 1,500 ETFs
  • Over 100 equity markets worldwide
  • One platform 12 asset classes from debt to CDS to loans to mid-market
  • Used by top buy and sell-side firms worldwide
Why aren't you using AdvantageData?

Subscribe to Email Updates

Recent Posts