High-grade deal action heavy; UBS, Duke Energy, Enterprise, Kraft, American Water price

By Cristal Cody

Tupelo, Miss., Aug. 7 – Investment-grade issuers flooded the primary market on Monday with several $1 billion-plus bond deals.

UBS Group Funding (Switzerland) AG priced $3.25 billion of notes in two parts.

Duke Energy Corp. sold $1.75 billion of senior notes in three tranches.

Enterprise Products Operating LLC came with $1.7 billion of 60-year fixed-to-floating rate junior subordinated notes in two parts.

Kraft Heinz Foods Co. sold $1.5 billion of floating-rate notes in three tranches on Monday.

American Water Capital Corp. sold $1.35 billion of senior notes in two parts.

Regions Financial Corp. tapped the primary market with a $1 billion deal.

Aetna Inc. placed $1 billion of 30-year senior notes.

Ares Capital Corp., CenterPoint Energy, Inc., CNA Financial Corp., Ecolab Inc., DDR Corp. and Paccar Financial Corp. also priced new notes.

Heavy supply is expected by market sources over the week with about $35 billion of issuance forecast.

The Markit CDX North American Investment Grade index was mostly unchanged on the day at a spread of 58 basis points.

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