Volume 4, Issue 39

October 28, 2014

Whitehall
UNITED STATES DEBT MARKET
US Libor US Treasury Yield Curve
Graph Caption Data
Libor 1 month 3 month 6 month UST 2yr 3yr 5yr 7yr 10yr 30yr
10/28/14 15 bps 23 bps 32 bps 10/28/14 0.38% 0.75% 1.49% 1.79% 2.26% 3.03%
10 Year US Swap Rates 10 Year US Treasury
Average 10 Year US Industrial Yield Average 10 Year US Industrial Spreads
S&P/LSTA Leveraged Loan Index Average Junk-Bond Yield
Source: Bloomberg
This market letter is not to be construed as a recommendation to buy, hold or sell any particular security.
1.25%
1.75%
2.25%
2.75%
3.25%
10/28/14
2.26%
0 bps
10 bps
20 bps
30 bps
40 bps
50 bps
6 mth
3 mth
1 mth
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
30yr Avg
15yr Avg
Today (10/28/14)
2 3 30
I I I
7 5 10
I I I
1.25%
1.75%
2.25%
2.75%
3.25%
10/28/14
2.40%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
A
BBB
10/28/14
3.07%
3.37%
0 bps
25 bps
50 bps
75 bps
100 bps
125 bps
150 bps
175 bps
200 bps
225 bps
A
BBB
10/28/14
80 bps
110 bps
95.50
96.00
96.50
97.00
97.50
98.00
98.50
99.00
99.50 10/28/14
97.05%
4.50%
5.00%
5.50%
6.00%
6.50%
7.00%
7.50% 10/28/14
5.83 %
Copyright 2014 Whitehall & Company, LLC
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Volume 4, Issue 39
October 28, 2014
Whitehall
Date Issuer Type $mm Years Spread Coupon Rating Sector Country
10/24 Teleperformance Snr Notes $325 7
10
175bps
175bps
3.64%
3.98%
2 Communications France
10/24 Central Maine Power Co Snr Notes $150 10d
15d
30d
90bps
112bps
105bps
3.15%
3.37%
4.07%
1 Utilities USA
10/24 Genesis Energy Ltd Snr Notes $150 11
12
135bps
140bps
N/A 1 Energy New Zealand
10/24 Capita Group plc Snr Notes $450 7d
7d
7d
8d
10d
10d
10d
12d
12d
140bps
150bps
G+145bps
140bps
140bps
G+144bps
G+157bps
155bps
G+138bps
3.33%
3.43%
3.26%
3.45%
3.65%
3.54%
3.67%
3.80%
3.58%
2 Consumer,
Cyclical
United Kingdom
10/24 AEP Transmission Co Snr Notes $500 5
7
10
10d
10d
15
15d
20
30
120bps
125bps
130bps
140bps
150bps
155bps
175bps
140bps
150bps
2.68%
3.18%
3.56%
3.66%
3.76%
3.81%
4.01%
4.05%
4.53%
2 Utilities USA
10/24 ITC Great Plains LLC FMB $150 30 110bps 4.16% 1 Utilities USA
10/24 The TD Garden Snr Sec $200 20(12avg) 160bps 3.82% 2 Consumer,
Cyclical
USA
Public and private market information is from sources that are deemed reliable, but information has not been confirmed.
Date Issuer Type $mm Years Spread Coupon Rating Sector Country
10/23 Ingersoll-Rand
Luxembourg Finance SA
Snr Notes $1,100 6
10
30
115bps
135bps
165bps
2.63%
3.55%
4.65%
Baa2/BBB Industrial Luxembourg
10/22 Verizon
Communications Inc
Snr Notes $6,500 7
10
20
115bps
135bps
145bps
3.00%
3.50%
4.40%
Baa1/BBB+ Communications USA
Source: Bloomberg
Date Issuer Type $mm Years Spread Coupon Rating Sector Country
10/22 Tesoro Logistics LP Snr Notes $1,300 5
8
406bps
424bps
5.50%
6.25%
Ba3/BB Energy USA
10/20 Constellation Brands Inc Snr Notes $800 5
10
248bps
257bps
3.88%
4.75%
Ba1/BB+ Consumer, Non-
cyclical
USA
Source: Bloomberg
Date Issuer Type $mm Months Spread Rating Sector
No Select Closed Syndicated Loans This Week
Source: Bloomberg
This market letter is not to be construed as a recommendation to buy, hold or sell any particular security.
SELECT US PRIVATE PLACEMENTS
US PUBLIC MARKET ISSUANCES
SELECT INVESTMENT GRADE ISSUANCES
SELECT BELOW INVESTMENT GRADE ISSUANCES
SELECT CLOSED SYNDICATED LOANS
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