Total issuance: $12.819 billion in 49 deals
Columns are amounts in billions of dollars, count of deals and percentage by dollar value.
Yield
| Less than 6% | 0.298 | 1 | 2.33%
|
| 6%-6.99% | 3.612 | 10 | 28.18%
|
| 7%-7.99% | 3.173 | 11 | 24.75%
|
| 8%-8.99% | 1.260 | 5 | 9.83%
|
| 9%-9.99% | 0.979 | 5 | 7.64%
|
| 10%-10.99% | 0.916 | 5 | 7.14%
|
| 11% and higher | 0.482 | 4 | 3.75%
|
| Floater | 2.098 | 8 | 16.37%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Pricing versus talk |
|
|
|
| Lower | 0.548 | 3 | 4.28%
|
| Low end | 1.458 | 7 | 11.37%
|
| Middle | 4.376 | 14 | 34.14%
|
| High end | 2.466 | 6 | 19.24%
|
| Higher | 1.912 | 6 | 14.92%
|
| NA | 2.057 | 13 | 16.05%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Upsized? |
|
|
|
| Yes | 3.214 | 9 | 25.07%
|
| No | 9.114 | 38 | 71.10%
|
| Downsized | 0.491 | 2 | 3.83%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Quick sale? |
|
|
|
| Yes | 7.131 | 22 | 55.63%
|
| No | 5.688 | 27 | 44.37%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Add on? |
|
|
|
| Yes | 1.269 | 9 | 9.90%
|
| No | 11.550 | 40 | 90.10%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Zero coupon? |
|
|
|
| No | 12.819 | 49 | 100.00%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Seniority |
|
|
|
| Senior secured | 2.611 | 11 | 20.37%
|
| Senior | 8.947 | 34 | 69.80%
|
| Senior sub | 1.260 | 4 | 9.83%
|
| Total | 12.819 | 49 |
|
|
|
| Moody's rating |
|
|
|
| Ba1 | 0.747 | 3 | 5.82%
|
| Ba2 | 2.337 | 7 | 18.23%
|
| Ba3 | 2.524 | 8 | 19.69%
|
| B1 | 1.805 | 7 | 14.08%
|
| B2 | 0.923 | 5 | 7.20%
|
| B3 | 2.460 | 11 | 19.19%
|
| Caa1 | 0.293 | 3 | 2.29%
|
| Caa2 | 0.245 | 1 | 1.91%
|
| NR | 1.485 | 4 | 11.59%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Use of proceeds |
|
|
|
| Acquisition | 0.724 | 4 | 5.65%
|
| GCP | 0.563 | 3 | 4.39%
|
| LBO | 0.795 | 6 | 6.20%
|
| Refinance/tender for notes | 2.484 | 8 | 19.38%
|
| Repay bank debt | 1.331 | 8 | 10.38%
|
| Other refinance | 4.380 | 12 | 34.17%
|
| Other/Multiple | 2.540 | 8 | 19.82%
|
| Total | 12.819 | 49 |
|
|
|
|
|
| Industry sector (by SIC code) |
|
|
|
| Agriculture (0xxx) | 0.225 | 1 | 1.76%
|
| Mining (1xxx) | 0.600 | 1 | 4.68%
|
| Oil and gas (13xx) | 0.913 | 3 | 7.12%
|
| Construction (15xx) | 0.796 | 4 | 6.21%
|
| Manufacturing (2xxx, 3xxx) | 3.687 | 17 | 28.76%
|
| Transportation (4xxx) | 0.234 | 2 | 1.83%
|
| Communications (48xx) | 3.720 | 8 | 29.02%
|
| Electric, gas, sanitary services (49xx) | 0.701 | 3 | 5.47%
|
| Finance, insurance, real estate (6xxx) | 0.229 | 3 | 1.78%
|
| Services (7xxx) | 1.715 | 7 | 13.38%
|
| Total | 12.819 | 49 |
|
|
|
| Home country of issuer |
|
|
|
| Indonesia | 0.848 | 2 | 6.62%
|
| Korea | 0.491 | 2 | 3.83%
|
| U.S. | 10.531 | 40 | 82.15%
|
| Other | 0.948 | 5 | 7.40%
|
| Total | 12.819 | 49 |
|
|
|
|
|
|
|
Criteria
* The tables include all underwritten 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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