Bristol-Myers, Republic Services, Vereit, ConEd, Entergy, Ameren price

By Cristal Cody

Tupelo, Miss., Nov. 9 – The investment-grade primary market roared back to life on Monday with more than $12 billion of high-grade issues sold over the session.

Volume was led by Bristol-Myers Squibb Co.’s $7 billion of registered senior notes (A2/A+/) that priced in six fixed-rate tranches. The company dropped a tranche of floating-rate notes from the final offering.

Republic Services, Inc. sold $1.1 billion of fixed-rate notes (Baa2/BBB+/BBB) in two tranches.

Vereit Operating Partnership LP priced $1.2 billion of guaranteed senior notes (Baa3/BBB-/BBB) in two tranches during the session.

Caterpillar Financial Services Corp. sold $1 billion of five-year senior medium-term notes (A3/A/A) on Monday.

Consolidated Edison Co. of New York, Inc. tapped the primary market with $600 million of 40-year debentures (Baa1/A-/A-).

Entergy Louisiana LLC sold $600 million of collateral trust mortgage bonds (A2/A/) in two tranches.

Ameren Illinois Co. priced $375 million of 10-year first mortgage bonds (A1/A/) on Monday.

Westpac Banking Corp. also offered subordinated notes (Baa1/BBB-/BBB) in two tranches on Monday.

In other supply, Public Storage sold $150 million of $25-par preferred shares (A3/BBB+/).

In addition, Fannie Mae priced $4 billion of five-year Benchmark Notes.

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