Just Priced — New Issues
Bonds issued within the last 90 days, newest first.
The primary driver across this fresh cohort of USD issuance is a bifurcated hunt for duration and yield, anchored by highgrade sovereign and corporate paper alongside opportunistic highyield placements. Prime investmentgrade supply—such as Tencent's 2046 offering printing a 5.624% YTW and Kommanditbolaget Insula's 2031 note yielding 5.031%—provides institutional accounts with attractive entry points to lock in extended yield curves amidst shifting macroeconomic expectations. Credit quality dispersion within the screen creates distinct relativevalue plays, stretching from pristine A+ rated financials down to highbeta frontier sovereign debt. Buckeye Partners' 2031 energy issue offers a compelling 6.708% YTW at par, while Gabon's 2034 sovereign stepup demands a hardnosed risk assessment at a heavily discounted 83.875 price yielding 12.636%. Crossborder participation is heavily skewed toward Chinese issuers across financials, communications, and quasisovereign sectors, offering liquid USDdenominated alternatives for portfolio diversification. Meanwhile, highly rated names like Toyota and Standard Chartered round out the newissue calendar, ensuring institutional investors have ample depth to execute precise curve and sector adjustments.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Gabonese (Republic of) | …2253 | 9.375 | 12.636 | 83.875 | 2034-10-21 | No Rating | USD | 580MM | |
| 2 | Buckeye Partners LP | …AF54 | 6.875 | 6.708 | 100.701 | 2031-11-01 | 2028-11-01 | BB | USD | 550MM |
| 3 | Tencent Holdings Ltd. | …BG88 | 6.1 | 5.963 | 101.0069853 | 2036-10-21 | 2036-07-21 | A+ | USD | 1.3BN |
| 4 | Tencent Holdings Ltd. | …BH61 | 6.75 | 5.624 | 113.42 | 2046-10-21 | 2046-04-21 | A+ | USD | 500MM |
| 5 | Kommuninvest I Sverige AB | …8272 | 4.875 | 5.031 | 99.306 | 2031-11-12 | No Rating | USD | 1BN | |
| 6 | Agricultural Bank of China Limited Macao Branch | …3067 | 4.312 | 99.937 | 2031-10-21 | No Rating | USD | 240MM | ||
| 7 | Agricultural Bank of China Limited Macao Branch | …2846 | 0.039 | 99.88 | 2029-10-21 | No Rating | USD | 500MM | ||
| 8 | Standard Chartered Bank New York Branch | …2D70 | 0 | -0.033 | 100.0668765 | 2029-10-20 | 2028-10-20 | A+ | USD | 400MM |
| 9 | Toyota Motor Finance Netherlands BV | …2018 | 5.18 | 2031-10-15 | No Rating | USD | 737MM | |||
| 10 | China Cinda (2020) I Management Ltd. | …4172 | 2030-04-22 | 2030-01-22 | BBB+ | USD | 400MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.