IFR 03.21.2020

44 International Financing Review March 21 2020

GLOBAL BOND SUMMARY DETAILS: WEEK ENDING 20/3/2020 (CONTINUED)

Pricing date Issuer Amount Maturity Coupon (%) Reoffer Spread (bp) Yield (%)

Mar 17 2020 Progressive US$500m Mar 26 2050 3.95 99.148 T+245 3.999

Mar 17 2020 Union Electric US$465m Mar 15 2030 2.95 99.914 T+200 2.96

Mar 17 2020 Verizon Communications US$750m Mar 22 2027 3 99.95 T+215 3.008

Mar 17 2020 Verizon Communications US$1.5bn Mar 22 2030 3.15 99.693 T+225 3.186

Mar 17 2020 Verizon Communications US$1.25bn Mar 22 2050 4 100 T+250 4

Mar 19 2020 Northrop Grumman US$750m May 1 2030 4.4 99.599 T+330 4.449

Mar 19 2020 Northrop Grumman US$500m May 1 2040 5.15 99.509 T+330 5.189

Mar 19 2020 Northrop Grumman US$1bn May 1 2050 5.25 99.407 T+340 5.289

Mar 19 2020 Walt Disney US$1.75bn Mar 24 2025 3.35 99.945 T+270 3.362

Mar 19 2020 Walt Disney US$500m Mar 23 2027 3.7 99.89 T+270 3.718

Mar 19 2020 Walt Disney US$1.25bn Mar 22 2030 3.8 99.72 T+270 3.834

Mar 19 2020 Walt Disney US$750m Mar 23 2040 4.625 99.767 T+275 4.643

Mar 19 2020 Walt Disney US$1.75bn Mar 23 2050 4.7 99.316 T+285 4.743

Mar 19 2020 United Parcel Service US$1bn Apr 1 2025 3.9 99.895 T+325 3.923

Mar 19 2020 United Parcel Service US$750m Apr 1 2030 4.45 99.623 T+335 4.497

Mar 19 2020 United Parcel Service US$500m Apr 1 2040 5.2 99.519 T+335 5.239

Mar 19 2020 United Parcel Service US$1.25bn Apr 1 2050 5.3 99.418 T+345 5.339

EUROS

Mar 20 2020 Engie €1bn Mar 27 2025 1.375 99.665 MS+160 / B+198.8 1.445

Mar 20 2020 Engie €750m Mar 27 2028 1.75 99.712 MS+180 / B+223.7 1.789

Mar 20 2020 Engie €750m Mar 30 2032 2.125 98.998 MS+210 / B+256 2.221

Mar 20 2020 Unilever €1bn Mar 25 2025 1.25 99.955 MS+140 / B+177.7 1.251

Mar 20 2020 Unilever €1bn Mar 25 2030 1.75 99.61 MS+170 / B+209.9 1.793

FINANCIALS

US DOLLARS

Mar 17 2020 Bank of America US$3bn Mar 20 2051 4.083 100 T+260 4.083

Mar 19 2020 Citigroup US$1.3bn Mar 26 2041

(Mar 2040)

5.316 100 T+350 5.316

Mar 19 2020 JP Morgan US$2.5bn Mar 24 2031

(Mar 2030)

4.493 100 T+340 4.493

Mar 19 2020 MetLife US$1bn Mar 23 2030 4.55 99.595 T+350 4.601

Mar 19 2020 Morgan Stanley US$2bn Mar 24 2051

(Mar 2050)

5.597 100 T+375 5.597

COVERED BONDS

EUROS

Mar 17 2020 RBC €1bn Mar 25 2025 0.125 99.91 MS+40/B+81.6 0.144

Mar 19 2020 AXA Bank Europe SCF €500m Oct 1 2024 0.125 99.432 MS+38 / B+74.5 0.252

Mar 19 2020 BMO €1.25bn Mar 26 2023 0.125 99.812 MS+45 / B+83.3 0.188

Mar 19 2020 TD Bank €1bn Mar 26 2024 0.25 99.663 MS+50 / B+85.6 0.335

STERLING

Mar 17 2020 CIBC £125m incr

(£625m)

Oct 28 2022 Sonia +48 99.13 Sonia +82 -

SWISS FRANCS

Mar 19 2020 BNS SFr100m Apr 3 2028 0.298 100 MS+46 0.298

Mar 20 2020 RBC SFr200m Apr 6 2027 0.155 100 MS+45 / Eidg+64 0.155

Mar 20 2020 BNS SFr80m incr

(SFr180m)

Apr 3 2028 0.298 100 MS+45 0.298

HIGH YIELD

NO DEALS IN

THE WEEK

6 IFR Bonds 2325 p 23 - 45 .indd 44 20 / 03 / 2020 19 : 59 : 42