Heavy post-holiday high-grade supply eyed; fund, ETF flows hit record

By Cristal Cody

Tupelo, Miss., Sept. 4 – Investment-primary action stayed mostly quiet on Friday following a week of thin deal volume ahead of the Labor Day holiday weekend, sources reported.

UBS Group AG marketed $750 million of perpetual notes with six-year call protection in a Regulation S deal during the day.

More than $4 billion of corporate bonds were priced over the week.

The sovereign, supranational and agency space was busier with $9.5 billion of notes sold this week.

Deals from Johnson Controls International plc, which concluded two days of fixed income investor calls on Wednesday for dollar-denominated 10-year green senior notes (Baa2/BBB+/BBB) and a potential euro-denominated note, and Suzano Austria GMBH, which plans a registered offering of dollar-denominated global notes due in 2031 (/BBB-/BBB-), remain in the pipeline.

Also, Independent Bank Group, Inc. held fixed-income investor calls this week for a possible offering of notes (Kroll: BBB+).

Meanwhile, U.S. high-grade bond fund and ETF inflows hit a record $14.95 billion for the past week ended Wednesday, according to a BofA Securities, Inc. research note released on Friday.

Inflows were up from $8.2 billion in the previous week and above the previous record of $14.88 billion posted for the week ended June 3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.