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Union Pacific, Pitney Bowes, Penske, Dexia, Ontario Teachers, Finland tap primary market
By Cristal Cody
Tupelo, Miss., Sept. 12 – High-grade corporate and SSA issuers tapped the primary market on Tuesday.
Union Pacific Corp. sold $1 billion of senior notes in two tranches. The company priced $500 million of 3.6% notes due Sept. 15, 2037 at 99.901 to yield 3.607% and $500 million of 4.1% notes due Sept. 15, 2067 at 99.852 to yield 4.107%.
Pitney Bowes Inc. priced $700 million of split-rated notes in two tranches. The company sold $300 million of 3.625% three-year notes at 99.764 to yield 3.709% and $400 million of 4.7% notes due April 1, 2023 at 99.756 to yield 4.75%.
Penske Truck Leasing Co., LP and co-issuer PTL Finance Corp. raised $600 million in a senior notes offering.
In SSA supply, Dexia Credit Local SA sold $2 billion of five-year notes.
Ontario Teachers’ Finance Trust also priced $1.75 billion of five-year notes.
In addition, the Republic of Finland sold $1 billion of three-year notes during the session.
The Markit CDX North American Investment Grade 28 index firmed about 1 basis point to close the day at a spread of 56 bps.
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