Martin Marietta, DTE, Healthcare Trust of America price; Legg Mason, Ameren Illinois firm

By Aleesia Forni and Cristal Cody

Virginia Beach, June 23 – The high-grade primary market saw new deals from Healthcare Trust of America Holdings, LP, DTE Electric Co. and Martin Marietta Materials Inc.

People’s United Bank, Ameren Illinois Co. and Legg Mason Inc. were also in the market on Monday.

The six issuers that came to the day’s quieter primary sold $3 billion of paper.

Demand was solid for the deals that did price on Monday.

The orderbook for Martin Marietta’s new deal was nearly four times oversubscribed, and both tranches of the deal sold 20 basis points tighter than original guidance.

Similarly, the five- and 10-year tranches of Legg Mason’s new deal sold around 20 bps tighter compared to initial price talk.

Activity this week is expected to remain measured compared to recent weeks, with around $15 billion to $20 billion of new issuance predicted.

Spreads narrowed over Monday’s session, sources said.

The Markit CDX North American Investment Grade series 22 index firmed 1 bp to a spread of 56 bps.

Legg Mason’s three-part offering of notes tightened 2 bps to 5 bps in the secondary market, a trader said.

Ameren Illinois’ 4.3% notes due 2044 traded 2 bps better.

No aftermarkets were seen in DTE Electric’s 3.375% notes due 2024, while the company’s tranche of 4.3% bonds due 2044 traded wrapped around issuance, according to a trader.

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