Daimler, Canadian Railway, Swedish Export, BNG price; new bonds mixed in secondary market

By Cristal Cody

Tupelo, Miss., Oct. 31 – Deal volume on Wednesday included new Yankee issuance.

Daimler Finance North America LLC sold $1.75 billion of senior notes in two tranches.

Canadian National Railway Co. priced $650 million of long 30-year senior notes.

In the SSA space, Swedish Export Credit Corp. brought $1 billion of three-year notes to the primary market.

Also, Bank Nederlandse Gemeenten NV sold $500 million of three-year dollar bonds in a Rule 144A and Regulation S deal.

In other activity on Wednesday, Duke Energy Carolinas LLC (Aa2/A/) held a roadshow and fixed-income investor calls for a benchmark-sized dollar-denominated offering of green first and refunding mortgage bonds, according to a market source.

Investment-grade issuers priced about $10 billion of bonds on Monday and Tuesday.

About $15 billion to $20 billion of supply was forecast by market sources for the week.

New bonds priced this week were mixed in secondary trading, according to market sources.

Charles Schwab Corp.’s $1.1 billion of senior notes (A2/A/A) sold in two tranches on Monday were seen trading about 1 basis point to 3 bps softer.

Ryder System, Inc.’s notes improved about 3 bps in the secondary market.

The Markit CDX North American Investment Grade 31 index ended the day about 2 bps tighter at a spread of 68 bps.

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