RBC, Deutsche Telekom, Reliance Standard price; EQT, Canada market issues

By Cristal Cody

Tupelo, Miss., Jan. 13 – Royal Bank of Canada led investment-grade supply on Monday with a $1.85 billion two-part offering of three-year medium-term senior notes.

Also in the primary market, Deutsche Telekom AG sold $1.25 billion of senior notes due Jan. 21, 2050.

Reliance Standard Life Global Funding II brought $700 million of senior secured notes in two parts.

Meanwhile, EQT Corp. is marketing a two-part registered offering of fixed-rate senior notes with fixed income investor calls held Monday and on Tuesday.

Coming up on Tuesday, Canada plans to tap the dollar-denominated primary market with a registered offering of five-year global notes.

Volume is forecast to stay strong but at a much lighter pace than the same period last week when more than $24 billion of bonds priced on Jan. 6. Corporate volume totaled more than $60 billion for the first full week of 2020.

About $30 billion to $35 billion of high-grade issuance is anticipated this week with bank and financial supply eyed on the heels of fourth quarter earnings releases, according to syndicate sources.

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