Columns are amount in billions of dollars, count of deals, percentage of total in dollars.
Spread
10/2007 11/2007
| Less than 75 bps | 3.547 | 0.995 |
|
| 75 | 10.738 | 0 |
|
| 100 | 15.188 | 1.399 |
|
| 125 | 13.121 | 8.034 |
|
| 150 | 10.851 | 5.086 |
|
| 175 | 4.836 | 11.359 |
|
| 200 | 3.577 | 11.422 |
|
| 225 bps and higher | 4.769 | 7.445 |
|
| NA | 9.830 | 6.977 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | Share
|
| Less than 75 bps | 4.542 | 3 | 0.0352
|
| 75 | 10.738 | 5 | 8.31%
|
| 100 | 16.587 | 17 | 12.84%
|
| 125 | 21.154 | 30 | 16.38%
|
| 150 | 15.937 | 26 | 12.34%
|
| 175 | 16.195 | 18 | 12.54%
|
| 200 | 14.999 | 18 | 11.61%
|
| 225 bps and higher | 12.214 | 17 | 0.0945
|
| NA | 16.807 | 43 | 13.01%
|
| Total | 129.173 | 177 | 100.00%
|
|
|
| Tenor |
|
|
|
| 10/2007 | 11/2007 |
|
| Less than 2 | 0.140 | 1.275 |
|
| 2 | 4.899 | 3.059 |
|
| 3 to 4.5 years | 1.944 | 0.800 |
|
| 5 | 29.421 | 9.016 |
|
| 5.25 to 9.75 | 1.395 | 3.098 |
|
| 10 | 13.983 | 21.531 |
|
| 10.25 to 15 | 6.540 | 0.797 |
|
| 27.75 and longer | 12.498 | 13.140 |
|
| NA | 5.637 | 0 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | YTD Share
|
| Less than 2 | 1.415 | 5 | 1.10%
|
| 2 | 7.958 | 12 | 6.16%
|
| 3 to 4.5 years | 2.744 | 11 | 0.0211
|
| 5 | 38.438 | 35 | 29.76%
|
| 5.25 to 9.75 | 4.493 | 11 | 0.0349
|
| 10 | 35.514 | 45 | 27.49%
|
| 10.25 to 15 | 7.337 | 11 | 0.0567
|
| 27.75 and longer | 25.638 | 39 | 0.1986
|
| NA | 5.637 | 8 | 4.36%
|
| Total | 129.173 | 177 | 100.00%
|
|
|
| Upsized? |
|
|
|
| 10/2007 | 11/2007 |
|
| Yes | 6.485 | 6.884 |
|
| No | 69.972 | 43.735 |
|
| Downsized | 0 | 2.097 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | YTD Share
|
| Yes | 13.370 | 18 | 10.35%
|
| No | 113.707 | 156 | 88.03%
|
| Downsized | 2.097 | 3 | 1.62%
|
| Total | 129.173 | 177 | 100.00%
|
|
|
| Moody's Rating |
|
|
|
| 10/2007 | 11/2007 |
|
| Aaa | 5.635 | 8.780 |
|
| Aa1 | 12.135 | 3.475 |
|
| Aa2 | 4.303 | 11.682 |
|
| Aa3 | 11.936 | 1.800 |
|
| A1 | 6.991 | 6.124 |
|
| A2 | 5.339 | 6.418 |
|
| A3 | 5.665 | 5.124 |
|
| Baa1 | 7.791 | 2.542 |
|
| Baa2 | 10.411 | 4.885 |
|
| Baa3 | 4.281 | 0.250 |
|
| Ba1 | 0.713 | 0 |
|
| Ba2 | 1.257 | 0.389 |
|
| NR | 0 | 1.248 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | YTD Share
|
| Aaa | 14.414 | 16 | 11.16%
|
| Aa1 | 15.610 | 8 | 12.08%
|
| Aa2 | 15.985 | 15 | 12.37%
|
| Aa3 | 13.736 | 19 | 10.63%
|
| A1 | 13.114 | 20 | 10.15%
|
| A2 | 11.757 | 17 | 9.10%
|
| A3 | 10.790 | 22 | 8.35%
|
| Baa1 | 10.334 | 19 | 8.00%
|
| Baa2 | 15.295 | 22 | 11.84%
|
| Baa3 | 4.531 | 13 | 3.51%
|
| Ba1 | 0.713 | 2 | 0.55%
|
| Ba2 | 1.646 | 3 | 1.27%
|
| NR | 1.248 | 1 | 0.97%
|
| Total | 129.173 | 177 | 100.00%
|
|
|
| Floater |
|
|
|
| 10/2007 | 11/2007 |
|
| No | 70.967 | 47.664 |
|
| Yes | 5.490 | 5.052 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | YTD Share
|
| No | 118.631 | 154 | 91.84%
|
| Yes | 10.542 | 23 | 8.16%
|
| Total | 129.173 | 177 | 100.00%
|
|
|
| Industry Sector (by SIC code) |
|
|
|
| 10/2007 | 11/2007 |
|
| Mining (1xxx) | 0 | 0.498 |
|
| Oil and gas (13xx) | 4.156 | 1.497 |
|
| Manufacturing (2xxx, 3xxx) | 13.616 | 7.681 |
|
| Pharmaceuticals (2834-6) | 0 | 3.491 |
|
| Transportation (4xxx) | 2.244 | 0 |
|
| Communications (48xx) | 2.106 | 0 |
|
| Electric, gas, sanitary services (49xx) | 3.891 | 3.665 |
|
| Wholesale (5xxx) | 7.084 | 0.792 |
|
| Finance, insurance, real estate (6xxx) | 40.224 | 32.207 |
|
| Services (7xxx) | 3.136 | 2.885 |
|
| Total | 76.457 | 52.716 |
|
|
|
| Q4/2007 | Count | YTD Share
|
| Mining (1xxx) | 0.498 | 1 | 0.39%
|
| Oil and gas (13xx) | 5.653 | 7 | 4.38%
|
| Manufacturing (2xxx, 3xxx) | 21.296 | 34 | 16.49%
|
| Pharmaceuticals (2834-6) | 3.491 | 3 | 2.70%
|
| Transportation (4xxx) | 2.244 | 6 | 1.74%
|
| Communications (48xx) | 2.106 | 5 | 1.63%
|
| Electric, gas, sanitary services (49xx) | 7.556 | 21 | 5.85%
|
| Wholesale (5xxx) | 7.876 | 12 | 6.10%
|
| Finance, insurance, real estate (6xxx) | 72.431 | 80 | 56.07%
|
| Services (7xxx) | 6.021 | 8 | 4.66%
|
| Total | 129.173 | 177 | 100.00%
|
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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 $75 million are included. All other MTNs are excluded.
• Deals rated investment-grade by either Standard & Poor's or Moody's Investors Service 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.
• Best efforts and non-underwritten deals are excluded, as are remarketings.
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