Corporate debt issuance for the month of August remained resilient, despite the pervasive widening in the yield curve and recessionary concerns spreading across the credit markets.
To the above, Mischler Financial Group’s debt capital markets team did not have the luxury of languishing on the beach, as evidenced by our role(s) as co-manager for over $20bil of new debt issuance from (9) leading issuers. In order of magnitude, Intel Corp and HSBC led the way with floats of $6bil each, followed by Barclays plc, ($2bil); Wells Fargo ($2bil), Ford Motor Company ($1.75bil); Synchrony Financial ($1.5bil); Toyota Motor Credit Corp ($750mil) and Entergy (Texas).
Each of the above companies, along with their lead underwriters, are to be credited for successfully bringing quality credit to institutional investors, and equally important, for their unilateral commitment to engaging best-in-class diversity-certified broker-dealers within respective underwriting consortiums.
As the nation’s oldest “minority BD” owned and operated by service-disabled veterans, Team Mischler extends a warm thanks to the treasury teams we’ve worked with in August and to the lead fixed income syndicate air traffic controllers who we are proud to refer to as our partners.