Ensco, Suntory, Abbey National price; Fannie Mae passes; International Finance on deck

By Aleesia Forni

Virginia Beach, Sept. 24 – The pace of new issuance in the high-grade bond primary market continued on Wednesday, with Ensco plc, Suntory Holdings Ltd. and Abbey National Treasury Services plc among the names pricing new deals.

Ensco came to market with $1.25 billion of senior notes in tranches due 2024 and 2044 on Wednesday, a market source said.

Both tranches sold at the tight end of price talk.

Meanwhile, Suntory Holdings sold $1 billion of notes in two parts in order to finance the company’s acquisition of Beam Inc.

Abbey National Treasury sold $750 million of senior notes in fixed- and floating-rate tranches due 2017 on Wednesday.

The session also saw Germany’s Landwirtschaftliche Rentenbank sell $1.25 billion of seven-year notes and Inter-American Investment Corp. offer $400 million of three-year floaters.

Compass Bank also sold a new bond offering during the session, though details of the sale were unavailable at press time.

Also on Wednesday, Fannie Mae announced that it would pass on issuing Benchmark Notes this month.

In the preferred market, Dominion Resources Inc. sold $685 million of 5.75% $1,000-par junior subordinated notes due 2054.

After the market closed, a source pegged the Dominion issue at 100.25 bid.

International Finance Corp. joined the forward calendar during the session, announcing price talk for a planned offering of two-year global bonds.

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