Total issuance: $18,329 million in 74 deals.
All amounts in millions of dollars.
Yield
<8% 875.00 4.77%
8%-8.99% 5,980.97 32.63%
9%-9.99% 4,888.16 26.67%
10%-10.99% 4,031.27 21.99%
11%-11.99% 1,283.59 7.00%
>=12% 1,269.56 6.93%
Total 18,328.56
Use of proceeds
Acquisition 373.12 2.04%
Repay bank debt 8,789.96 47.96%
Refinancing (may include bank debt) 926.13 5.05%
Repay bank debt and other uses 5,633.39 30.74%
Others 2,605.96 14.22%
Total 18,328.56
Moody's rating
Ba1 1,417.85 7.74%
Ba2 809.77 4.42%
Ba3 2,327.30 12.70%
B1 2,056.24 11.22%
B2 7,821.55 42.67%
B3 3,549.73 19.37%
Caa1 173.86 0.95%
Caa3 172.26 0.94%
Total 18,328.56
Upsized?
Yes 10,739.06 58.59%
No 7,134.59 38.93%
Downsized | 454.91 | 2.48% |
|
Total | 18,328.56
|
|
Add ons?
|
|
Yes | 1,928.36 | 10.52%
|
No | 16,400.20 | 89.48%
|
Total | 18,328.56
|
|
Seniority
|
|
First mortgage | 175.83 | 0.96%
|
Mortgage | 159.38 | 0.87%
|
Senior | 8,250.50 | 45.01%
|
Senior secured | 2,563.29 | 13.99%
|
Senior subordinated | 7,179.56 | 39.17%
|
Total | 18,328.56
|
|
Industry sector (by SIC code)
|
|
Oil and gas (13xx) | 786.68 | 4.29%
|
Builders (15xx) | 249.15 | 1.36%
|
Manufacturing (2xxx, 3xxx) | 7,958.77 | 43.42%
|
Air transportation (45xx) | 298.55 | 1.63%
|
Communications (48xx) | 3,932.61 | 21.46%
|
Retail (5xxx) | 500.00 | 2.73%
|
Finance, insurance, real estate (6xxx) | 300.00 | 1.64%
|
Services (7xxx) | 3,453.95 | 18.84%
|
Health (8xxx) | 848.86 | 4.63%
|
Total | 18,328.56
|
|
|
Criteria
* The tables include all dollar-denominated offerings sold in the U.S. as public or Rule 144A deals reported to Prospect News.
* Offerings are included in the time period in which they price.
* Issues maturing in 397 days or less are excluded.
* Convertibles, trust preferreds, capital securities and preferred stock are excluded.
* Fixed-rate medium-term notes with a face value above $100 million are included. All other MTNs are excluded.
* Deals rated investment-grade by either Standard & Poor's or Moody's Investors Service are excluded but deals not rated by both are included.
* Amounts are based on the total sales price (face amount multiplied by the offering price
* Units made up of a bond and a warrant are included; other units are excluded.
* Sovereign issues are excluded.
* Each tranche is counted as a separate deal.
* Passthroughs, collateral trust and equipment trust certificates are included.
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