American Tower, Air Lease, Entergy Louisiana, others in primary

By Cristal Cody

Tupelo, Miss., Nov. 17 – Investment-grade corporate and sovereign, supranational and agency supply remained strong over Tuesday’s session following more than $9 billion of issuance at the start of the week.

American Tower Corp. sold $1.7 billion of senior notes (Baa3/BBB-/BBB+) in three tranches.

The deal included long three-year notes, long seven-year notes and long 30-year notes.

Air Lease Corp. brought $1.5 billion of medium-term notes (/BBB/BBB/Kroll: A-) in two parts to the primary market.

The company priced a $750 million add-on to its 2.875% medium-term notes due Jan. 15, 2026 and sold a new $750 million tranche of 10-year notes.

Entergy Louisiana LLC, which priced $600 million of collateral trust mortgage bonds (A2/A/) in two tranches on Nov. 9, returned Tuesday with $1.1 billion of three-year collateral trust mortgage bonds (A2/A/).

A tranche of floating-rate bonds was dropped from the final offering.

In other corporate primary action, Brookfield Finance I (UK) plc sold $200 million of $25-par guaranteed perpetual subordinated notes (/BBB/BBB).

NRG Energy, Inc. marketed $1,465,000,000 of high-grade notes, as well as high-yield issues, on Tuesday following fixed income investor calls held Monday.

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