IFR SNAPSHOT - The HY primary active while IG sits one out
WEB3 days ago · In the IG primary yesterday four offerings were priced totaling US$7.45bn, pushing weekly volume to US$41.22bn, which exceeded syndicate supply forecasts for the week, and September issuance to US$176.92bn, according to IFR data. The average new IG issue concession was 1bp and the order book coverage was 4.64x subscribed, according to the data.
IFR SNAPSHOT - Issues roll out into IG and HY primaries
WEB6 days ago · On Monday 12 IG offerings were priced totaling US$13.35bn, lifting September issuance to US$149.150bn, according to IFR data. The average new issue concession for the issues was 0.64bp and the average order book was 3.99x covered, according to the data. The average move from initial price thoughts to pricing was 26.77bp tighter.
IFR SNAPSHOT - US IG primary gears up for a busy Monday
WEBSep 23, 2024 · The IG volume sold this week would give this month a very strong chance of setting a new September record, which was US$169bn set in 2020, BMO said. On Friday one HY offering was priced totaling US$750m, lifting weekly issuance to eight tranches totaling US$6.725bn and September volume to 37 tranches totaling US$26.830bn, according to IFR data.
IFR SNAPSHOT - IG primary still active as markets ponder degree …
WEBSep 17, 2024 · In the IG primary on Monday six issues were priced totaling US$8.15bn, lifting September IG volume to US$127.95bn, according to IFR data. The average NIC for yesterday's IG deals was 2.64bp and the average order book was 3.59x, according to IFR data. The average move tighter from initial price thoughts to …
IFR SNAPSHOT - IG and HY primaries still going strong
WEB5 days ago · The average IG bond spread remained unchanged at 92bp on Tuesday and the HY bond spread widened by 6bp to 321bp, according to ICE BofA data. "IG index spreads narrowed 0-1bp during yesterday’s session, and the ICE Corporate index opens this morning at a spread to Treasuries of 92bp. That’s the narrowest spread for the IG index since July 16 ...
IG issuers return in full after Tuesday's record session - IFRe
WEBSep 4, 2024 · IFR SNAPSHOT - IG issuers return in full after Tuesday's record session. At least 18 IG issuers are slated to price deals today, after borrowers flooded the market on Tuesday with 29 deals – the most ever in a single day. Borrowers easily exceeded the previous record of 23 deals set on September 3 2019 and then repeated on September 7 …
IFR SNAPSHOT - IG market returns with deals from Citi, HP …
WEBSep 12, 2024 · Two high-yield bond issuers raised US$2.69bn yesterday, bringing weekly issuance to US$8.965bn, according to IFR data. So far this year junk borrowers have priced US$210.9bn of bonds, already more than the US$174bn done during all of last year, the data show. The average IG bond spread was unchanged at 101bp on Wednesday, and the HY bond spread ...
IFR SNAPSHOT - IG primary quiet while HY still busy
WEBSep 20, 2024 · The US investment-grade primary is taking a breather today after a week that included the Federal Reserve's first fed funds rate cut in four years, while the HY primary is active with two offerings. The larger-than-expected 50bp reduction on Wednesday triggered a US stocks rally that saw the S&P set a record on Thursday.
IFR SNAPSHOT - IG issuers wrap up unprecedented 59-deal week
WEBSep 6, 2024 · High-yield issuers were also active. Junk-rated borrowers priced five deals yesterday totaling US$4.05bn, bringing the weekly volume to US$7.615bn, IFR data show. Issuers have raised US$201.95bn in the US market so far this year, more than the US$174.01bn issued during all of 2023. With no new …
US corporate bond primaries rest as summertime slowly fades - IFRe
WEBAug 29, 2024 · On Wednesday, the bonds took another leg down to change hands at around 71.70 cents on the dollar after trading last Friday at 75.88. The 3.5% 2032s issued by split-rated Advance Auto Parts was also moving yesterday at around 87.25 cents on the dollar. Earlier this month, the company announced the sale of …