Union Pacific, Total Capital, Mondelez, DTE, Commonwealth Edison tap primary

By Cristal Cody

Tupelo, Miss., Feb. 11 – High-grade issuers kicked the week off with strong volume on Monday and more offerings eyed for Tuesday.

Union Pacific Corp. sold $3 billion of fixed-rate senior notes in four tranches.

Total Capital International priced a $1.25 billion offering of 10-year guaranteed notes.

Mondelez International, Inc. brought $600 million of seven-year notes to the market.

DTE Electric Co. raised $650 million in an offering of 30-year general and refunding mortgage bonds.

Commonwealth Edison Co. sold $400 million of 30-year first mortgage bonds during the session.

Coming up on Tuesday, the Bank of England intends to tap the primary market with a $2 billion offering of three-year notes.

Also, BNG Bank NV plans a $250 million reopening of its senior floating-rate notes due March 11, 2022 that were first priced in April 2018.

In other primary market action, Altria Group Inc. launched a four-part offering of euro-denominated notes on Monday. The company also may price dollar-denominated notes after holding a roadshow in the United States and Europe last week, a source said.

Investment-grade supply is expected to ramp up this week with about $25 billion to $30 billion of overall volume predicted following light issuance last week.

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