Total issuance: $9.102 billion in 35 deals
Columns are amounts in billions of dollars, count of deals and percentage by dollar value.
Yield
| 6%-6.99% | 1.375 | 3 | 15.11%
|
| 7%-7.99% | 0.650 | 3 | 7.14%
|
| 8%-8.99% | 2.833 | 10 | 31.12%
|
| 9%-9.99% | 1.378 | 5 | 15.14%
|
| 10%-10.99% | 1.128 | 4 | 12.40%
|
| 11% and higher | 0.885 | 5 | 9.73%
|
| Floater | 0.853 | 5 | 9.37%
|
| Total | 9.102 | 35
|
|
|
|
|
| Pricing versus talk
|
|
|
| Lower | 0.390 | 2 | 4.28%
|
| Low end | 3.178 | 9 | 34.91%
|
| Middle | 2.213 | 9 | 24.31%
|
| High end | 0.875 | 4 | 9.61%
|
| Higher | 2.355 | 10 | 25.87%
|
| NA | 0.092 | 1 | 1.01%
|
| Total | 9.102 | 35
|
|
|
|
|
| Upsized?
|
|
|
| Yes | 2.420 | 7 | 26.59%
|
| No | 6.327 | 26 | 69.51%
|
| Downsized | 0.355 | 2 | 3.90%
|
| Total | 9.102 | 35
|
|
|
|
|
| Quick sale?
|
|
|
| Yes | 2.235 | 6 | 24.55%
|
| No | 6.868 | 29 | 75.45%
|
| Total | 9.102 | 35
|
|
|
|
|
| Add on?
|
|
|
| Yes | 0.092 | 1 | 1.01%
|
| No | 9.010 | 34 | 98.99%
|
| Total | 9.102 | 35
|
|
|
|
|
| Zero coupon?
|
|
|
| Yes | 0.000 | 0 | 0.00%
|
| No | 8.767 | 32 | 96.32%
|
| Total | 9.102 | 35
|
|
|
|
|
| Seniority
|
|
|
| Senior secured | 0.829 | 5 | 9.10%
|
| Senior | 4.992 | 19 | 54.85%
|
| Senior sub | 3.282 | 11 | 36.05%
|
| Total | 9.102 | 35
|
|
|
| Moody's rating
|
|
|
| Ba1 | 0.550 | 1 | 6.04%
|
| Ba2 | 0.300 | 1 | 3.30%
|
| Ba3 | 1.185 | 4 | 13.01%
|
| B1 | 1.647 | 5 | 18.10%
|
| B2 | 1.379 | 7 | 15.14%
|
| B3 | 2.676 | 10 | 29.39%
|
| Caa1 | 1.366 | 7 | 15.01%
|
| Total | 9.102 | 35
|
|
|
|
|
| Use of proceeds
|
|
|
| Acquisition | 0.811 | 4 | 8.91%
|
| GCP | 0.500 | 1 | 5.49%
|
| LBO | 2.850 | 11 | 31.31%
|
| Refinance/tender for notes | 2.012 | 6 | 22.11%
|
| Repay bank debt | 0.550 | 1 | 6.04%
|
| Refinance | 1.522 | 7 | 16.72%
|
| Other/Multiple | 0.857 | 5 | 9.42%
|
| Total | 9.102 | 35
|
|
|
|
|
| Industry sector (by SIC code)
|
|
|
| Agriculture (0xxx) | 0.300 | 1 | 3.30%
|
| Oil and gas (13xx) | 0.598 | 3 | 6.57%
|
| Manufacturing (2xxx, 3xxx) | 4.066 | 16 | 44.67%
|
| Communications (48xx) | 1.361 | 3 | 14.95%
|
| Finance, insurance, real estate (6xxx) | 0.092 | 1 | 1.01%
|
| Services (7xxx) | 2.685 | 11 | 29.50%
|
| Total | 9.102 | 35
|
|
|
|
|
| Home country of issuer
|
|
|
| Canada | 0.823 | 4 | 9.04%
|
| U.S. | 8.279 | 31 | 90.96%
|
| Total | 9.102 | 35
|
|
|
|
|
|
|
|
|
|
|
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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