Novartis, DTE, Sysco, FS KKR, Oshkosh, Duke Realty price; Carrier Global holds deal calls

By Cristal Cody

Tupelo, Miss., Feb. 11 – More than $8 billion of notes priced in the high-grade primary market over Tuesday’s session.

Novartis Capital Corp. sold $5 billion of notes in four tranches.

DTE Electric Co. priced $1.1 billion of general and refunding mortgage bonds in two parts.

Sysco Corp. sold $1 billion of senior notes in two tranches.

FS KKR Capital Corp. priced a $475 million Rule 144A and Regulation S offering of five-year notes.

Oshkosh Corp. brought $300 million of 10-year senior notes to the primary market.

Duke Realty LP placed an upsized $325 million of 30-year senior notes.

The deals bring week to date investment-grade issuance to more than $18 billion.

About $25 billion to $35 billion of bond supply is anticipated this week, according to syndicate sources.

Carrier Global Corp. started a two-day round of fixed income investor calls on Tuesday for a potential $9.2 billion offering of senior notes (Baa3/BBB/) as part of its spin-off from United Technologies Corp.

Otis Worldwide Corp., which also is being spun off from United Technologies, is expected to follow with fixed income investor calls for a possible $5.3 billion offering of senior notes (Baa2/BBB/).

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