USD New Issues: Update

UFO 13 Feb 2023
An update of USD new issuance.

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  • FHLB is preparing a USD 2y Global note at around Treasuries +11bps through Citi, TorDom and WFS.


  • Insurance broker HUB International plans a $2.675bn 7y NC3 B2/B secured bond. Leads are ATB, Barclays, BofA, BMO, CS, GS, JPM, Macqurie, MS, Nomura and RBC. 


  • EDF (Ba2/B+/BBB-) priced a $1.5bn perp HC10 Hybrid sub at 9.125%. Leads are BNPP (B&D), BofA, DB, MUFG, SMBC Nikko and StanChart.


  • Handelsbanken priced a $700m 3y, $500m 3y FRN and $1bn 5y (SNP) notes at Treasuries +112.5bps, SOFR + 125bps and +175bps. Leads are BNPP, Citi, GS and MS.


  • Vistra Operations Co. priced a $450m 5y P-Cap deal via BNPP, CA-CIB, CS, JPM and TSI.  Baa3/BBB-/BBB-.  Priced at +337.5bps.


  • Ally Financial priced an $850m 6y NC5. Leads Barclays, Citi, JPM and RBCCM. Baa3/BBB-/BBB-. Priced at +312.5bps.  


  • NatWest Group (A3/BBB+/A) priced a $1.25bn 6.25y NC5.25y at Treasuries +195bps. Leads are Citi, GS, MS, NatWest and TorDom. 


  • Finnvera priced a $1bn 5y at swaps +47bps via BofA, Citi, JPM and TorDom (B&D).


  • Santander Holdings USA (Baa3/BBB+) priced a $500m 6y NC5 at Treasuries +270bps. Leads are Citi, MS, Santander and WFS.