Marsh & McLennan, Energy Transfer, ORIX, EIB, BNG Bank price; Danske Bank eyes market

By Cristal Cody

Tupelo, Miss., Jan. 8 – Marsh & McLennan Cos., Inc. led deal action in the high-grade primary market on Tuesday with a $5 billion six-tranche offering of senior notes.

The notes priced on top of guidance and better than initial talk.

Energy Transfer Operating LP also came with $4 billion of senior notes in three tranches, dropping a two-year fixed-rate issue from the final offering.

ORIX Corp. sold $500 million of five-year senior notes.

The European Investment Bank placed $4 billion of five-year global notes during the session.

In addition, BNG Bank NV priced $1.5 billion of two-year notes.

About $25 billion to $30 billion of deal volume is forecast by market sources for the week.

Danske Bank A/S started a roadshow and fixed income investor calls on Monday for a benchmark-sized dollar-denominated offering of notes.

Coming up on Wednesday, Fannie Mae announced it plans to price new three-year Benchmark Notes.

The Markit CDX North American Investment Grade 31 index firmed about 2 basis points on Tuesday to a spread of 80 bps.

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