HSBC Holdings Share News (HSBA)

* US$111.4bn deals sold in last 12 business days * March issuance starts with a roar * FIGs sell US$12.5bn in six deals Tuesday * HSBC prices its largest US dollar deal * HSBC tighter in the grey; 5yr T+205, 10y T+239bp * O'Reilly price progression 10bp from guidance to launch * March volume seen well over US$100bn - banker By Mike Gambale NEW YORK, March 1 (IFR) - Below is a recap of primaryissuance activity in the US high-grade market on Tuesday: Number of deals priced: 7 Total issuance volume: US$13bn Average new issue concession: 7.5 Total book to cover: 3.00 HSBC HSBC Holdings Plc, A1/A/AA- (s/s/s), announced a US$benchmark multi-tranche SEC-Reg senior unsecured notes viasole-bookrunner HSBC. Structure will consist of a 5-year(3/8/2021) FXD, 5-year (3/8/2021) FRN and a 10-year (3/8/2026)fixed. UOP: General corporate purposes (see preliminaryprospectus supplement for complete information. Settlement date3/8/2016. IPTs: 5-year FXD T+237.5bp area, 5-year FRN 3mL+equivalent,10-year FXD T+275bp area PRICE GUIDANCE: 5yr FX T+220bp area, 5yr FRN Libor equiv,10yr T+255bp area. Area is +/- 5bp. LAUNCH: US$7bn 3-part deal. - US$3bn 5-year fixed at T+215bp. - US$1bn 5-year floater at 3mL+224bp. - US$3bn 10-year fixed at T+250bp. PRICED: US$7bn 3-part deal total. - US$3bn 3.40% cpn 5-year fixed (3/8/2021). At 99.772, yld3.45%. T+215bp. - US$1bn 5-year floater (3/8/2021). At 100, floats 3mL+224bp - US$3bn 4.30% cpn 10-year fixed (3/08/2026). At 99.855, yld4.318%. T+250bp. BOOK: US$19bn total NIC: 5-year: 7bp (5/10s curve worth 35bp, FV=G+208bp) 10-year: 7bp (sr/sub differential 45bp, FV=G+243bp) COMPS: HSBC 4.250% August 18, 2025 at G+288bp (sub) CITIGROUP INC Citigroup Inc., Baa3/BBB/A- (s/s/s), announced a US$benchmark 10-year (3/9/2026) subordinated self-led noteoffering. UOP: GCP. Settlement date 3/9/2016. IPT: T+300bp area. PRICE GUIDANCE: T+280bp (the #) LAUNCH: US$1.5bn at T+280bp PRICED: US$1.5bn. Cpn 4.60%. Due 3/9/2026. Ip US$99.802. Yld4.625%. T+280bp. BOOK: US$5bn NIC: 8bp (vs. 4.40% '25s at G+272bp) COMPS: C 4.400% June 10, 2025 at G+272bp (sub) C 4.450% September 29, 2027 at G+278bp JOHN DEERE CAPITAL CORP John Deere Capital Corp, A2/A (s/s), announced a US$benchmark SEC-Reg 7-year (3/6/2023) senior unsecured notes viaCitigroup, Goldman Sachs and Mitsubishi. UOP: GCP. Settlement3/4/2016. IPT: T+135bp area PRICE GUIDANCE: T+125bp area (+/- 5bp) LAUNCH: US$750m at T+120bp PRICED: US$750m 2.80% cpn 7yr (3/06/2023). At 99.88, yld2.819%. T+120bp. 1st pay: 9/06/2016. BOOK: US$1.75bn NIC: 15bp (vs. 3.40% '25s at G+115bp. 7/10s curve worth10bp, FV=G+105bp) COMPS: DE 2.550% January 8, 2021 at G+92bp DE 3.400% September 11, 2025 at G+115bp MANULIFE FINANCIAL CORP Manulife Financial Corp, Nr/A/A- (-/s/s), announced a US$benchmark SEC-Reg 2-part senior unsecured note offering viaCitigroup and Morgan Stanley. Structure will consist of a10-year (3/4/2026) and a 30-year (3/4/2046). Make-whole callsapply. UOP: General corporate purposes, including futurerefinancing requirements. Settlement date 3/4/2016. IPTs: 10-year T+250-262.5bp, 30-year T+287.5bp area. PRICE GUIDANCE: 10yr T+240bp area, 30yr T+275bp area. Areais +/- 5bp. LAUNCH: US$1.75bn 2-part. US$1bn 10yr at T+235bp, US$750m30yr at T+270bp. PRICED: US$1.75bn 2-part total. - US$1bn 4.15% cpn 10yr (3/04/2026). At 99.757, yld 4.18%.T+235bp. MWC+35bp. - US$750m 5.375% cpn 30yr (3/04/2046). At 99.645, yld5.399%. T+270bp. MWC+40bp. BOOK: US$4.4bn, 10-year US$2.4bn, 30-year US$2bn NIC: 10-year: 9.5bp (vs. AIG 3.75% '25s at G+233bp, subtract7.5bp for one-notch S&P rating, FV=G+225.5bp) 30-year: 7.5bp (vs. AIG 4.8% '45 at T+275bp, subtract 7.5bpfor one-notch S&P rating, FV=G+267.5bp) MARKET CAP: MET US$45bn, MFC US$27bn, AIG US$62bn COMPS: MET (A3/A-) 3.600% November 13, 2025 at G+186bp MET (A3/A-) 4.600% May 13, 2046 at T+207bp AIG (Baa1/A-) 3.750% July 10, 2025 at G+233bp AIG (Baa1/A-) 4.800% July 10, 2045 at T+275bp LNC (Baa1/A-) 3.350% March 9, 2035 at G+235bp PNC BANK PNC Bank NA (PNC), A2/A, announced a US$ benchmark 3(a)23-year (3/04/2019) senior bank notes. The active bookrunners areBarclays, Citigroup, Morgan Stanley and PNC Capital Markets.Optional Redemption: Par Call 30 days month prior to maturity.Use of Proceeds: General Corporate Purpose. Settlement: T+3(3/4/2016). IPT: T+115bp area PRICE GUIDANCE: T+105bp area (+/- 3bp) LAUNCH: US$1bn at T+102bp PRICED: US$1bn 1.95% cpn 3yr (3/04/2019). At 99.899, yld1.985%. T+102bp. BOOK: US$2.4bn NIC: 6bp (vs. 1.80% '18s at G+96bp) COMPS: PNC 1.800% November 5, 2018 at G+96bp O'REILLY AUTOMOTIVE O'Reilly Automotive Inc (ORLY), Baa1/BBB+, announced aUS$500m (no grow) SEC registered 10-year (3/15/2026) seniornotes. Active bookrunners are JPMorgan and US Bank. Passive:BofAML, WFC. Optional Redemption: Make Whole Call and Par Call:3 month(s) prior to maturity. Use of Proceeds: The net proceedsfrom this offering for general corporate purposes, which mayinclude ordinary course working capital increases, repurchasesof shares of our common stock, repayment of debt and to investin other business opportunities, including acquisitions, and topay related fees and expenses. Settle: 3/08/2016. IPT: very low 200s. PRICE GUIDANCE: T+185bp area (+/- 5bp) LAUNCH: US$500m at T+175bp PRICED: US$500m 3.55% cpn 10yr (3/15/2026). At 99.832, yld3.57%. T+175bp. MWC+30bp. BOOK: US$3.5bn (US$4bn peak) NIC: Flat (vs. 3.85% '23s at G+175bp COMPS: ORLY 3.850% June 15, 2023 at G+175bp YAPI KREDI Yapi Kredi, rated Ba3/BBB-, announced a US$ benchmark10-year nc5 Basel III-tier 2 capital deal via Bank of America,Citigroup, Mitsubishi and Unicredit. 144a/RegS. Structure willconsist of a 10-year nc5. Books to go subject London afternoon.Settlement date T+5. IPT: High 8s PRICE GUIDANCE: 8.75% area LAUNCH: US$500m at 8.625% PRICED: US$500m 8.50% cpn 10yr (3/09/2026) non-call 5yr(3/09/2021). At 99.50, yld 8.625%. BOOK: US$975m (Books include USD150m related party order). COMPS: YKBNK 5.250% December 3, 2018 at bid yield 4.323% (T+340bp) YKBNK 5.125% October 22, 2019 at bid yield 4.820% (T+382bp) YKBNK 4.000% January 22, 2020 at bid yield 4.855% (T+383bp) MARCH MONTHLY VOLUMES Date Amount US$(bn) 2015 $149.760 2014 $119.125 2013 $73.892 2012 $108.115 2011 $95.673 2010 $91.276 2009 $65.658 2008 $43.850 2007 $75.189 2006 $61.415 2005 $40.122 2004 $61.090 2003 $40.936 2002 $74.020 (Reporting By Michael Gambale)