Fortis, Viacom, DTE Energy price bonds; credit spreads widen; HSBC tightens; Shire softens

By Cristal Cody

Eureka Springs, Ark., Sept. 29 – Fortis Inc., Viacom Inc. and DTE Energy Co. tapped the high-grade primary market on Thursday to price more than $4 billion of bonds.

Canadian energy company Fortis sold $2 billion of notes in two tranches.

Viacom came with a $1.3 billion two-part sale of senior notes.

DTE Energy raised $1 billion in a two-part offering of senior notes.

The Markit CDX North American Investment Grade index widened about 3 basis points over the day to close at a spread of 78 bps.

High-grade bonds were mixed in the secondary market earlier in the session.

HSBC Holdings plc’s 2.65% notes due 2022 sold on Wednesday tightened about 4 bps.

Shire Acquisitions Investments Ireland DAC’s 2.4% notes due 2021 traded softer than issuance.

Fortis sold $2 billion of notes (Baa3/BBB+) in two parts on Thursday, according to a market source.

The company priced $500 million of 2.1% five-year notes at 105 bps over Treasuries.

Fortis sold $1.5 billion of 3.055% 10-year notes at a spread of 150 bps over Treasuries.

The tranches priced on the tight side of talk.

Goldman Sachs & Co., MUFG, Scotia Capital (USA) Inc. and Wells Fargo Securities LLC were the lead managers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.