Syngenta sells six tranches; Scotia, Credit Agricole, International Development price notes

By Cristal Cody

Tupelo, Miss., April 17 – Investment-grade supply stayed strong over Tuesday’s session with several issuers in the primary market.

Syngenta AG sold $4.75 billion of senior notes in six parts following a roadshow that started last week.

Bank of Nova Scotia priced $2 billion of three-year paper in two tranches.

Credit Agricole SA (London Branch) sold $1.75 billion of notes in two parts.

Cargill Inc. tapped the primary market with a $500 million offering of three-year senior notes.

Also, International Development Association sold $1.5 billion of five-year notes in a debut bond deal.

In other market activity on Tuesday, DTE Electric Co. held fixed-income investor calls for a green bond offering of senior secured notes (Aa3/A/A+), according to a market source.

About $25 billion to $35 billion of supply is expected by syndicate sources for the week.

The Markit CDX North American Investment Grade 30 index was modestly tighter on the day at a spread of 59 basis points.

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