Morning Commentary: High-grade bond markets quiet at Friday open after active week

By Devika Patel

Knoxville, Tenn., Nov. 1 – Primary activity in the investment-grade bond market was quiet on Friday morning with no reported new deals announced or pricing.

Earlier in the week, however, the market had been fairly busy with several large deals pricing.

On Monday, Citigroup Inc., a New York-based bank, priced $4.25 billion of senior notes in three tranches.

Also, Irvine, Calif.-based Hyundai Capital America, the auto financing arm of Hyundai Motor Co., sold $1.5 billion of notes in two tranches.

On Tuesday, Philadelphia-based Comcast Corp., a media and technology company, sold $4.75 billion of guaranteed notes in three parts.

In addition, Rotterdam, Netherlands-based Braskem Netherlands Finance BV, the financing arm of Sao Paulo-based petrochemical company Braskem SA, sold $2.25 billion of senior notes in two tranches.

Also on Tuesday, Washington, D.C.-based Danaher Corp. unit DH Europe Finance II Sarl sold $4 billion of guaranteed fixed-rate senior notes in five tranches. Danaher designs, manufactures and markets professional, medical, industrial, commercial and consumer products.

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