TD, Delta, Florida Gas, Pinnacle, Ares, World Bank tap primary; Fidelis, Amcor on deck

By Cristal Cody

Tupelo, Miss., June 10 – A handful of issuers marketed and sold bonds in the high-grade primary market on Wednesday.

In new issuance on Wednesday, Toronto-Dominion Bank priced $2.75 billion of senior medium-term notes (Aa3/A) in two tranches.

Delta Air Lines Inc. (Baa3/BB/BB+) sold $1.25 billion of 7.375% split-rated notes due Jan. 15, 2026.

Florida Gas Transmission Co. LLC (Baa2/BBB+) priced a $500 million Rule 144A and Regulation S offering of 10-year senior notes.

Pinnacle West Capital Corp. brought $500 million of five-year senior notes (A3/BBB+/A-) to the primary market.

Ares Management Corp. subsidiary Ares Finance Co. II LLC sold $400 million of 10-year guaranteed senior notes (BBB+/BBB+) in an offering upsized from $350 million.

Also on Wednesday, International Bank for Reconstruction and Development, or World Bank, priced C$1.5 billion of five-year global benchmark sustainable development bonds (Aaa/AAA/AAA) in a deal that attracted 55 investor orders.

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