HSBC, American Tower, Entergy Louisiana tap market; Viacom to price; Verizon, Kroger mixed

By Cristal Cody

Eureka Springs, Ark., Sept. 28 – Three high-grade issuers priced more than $5 billion of bonds during Wednesday’s session.

HSBC Holdings plc sold $3.75 billion of fixed- and floating-rate senior notes due 2022 in two tranches.

The company sold $1.25 billion of floating-rate notes due Jan. 5, 2022 at par to yield Libor plus 150 basis points.

In the second tranche, HSBC priced $2.5 billion of 2.65% notes due Jan. 5, 2022 at 99.906 to yield 2.668% and a spread of Treasuries plus 155 bps.

HSBC Securities (USA) Inc. was the bookrunner.

The London-based banking and financial services group plans to use the proceeds for general corporate purposes.

American Tower Corp. tapped the primary market with a $1 billion two-part offering of senior notes.

Entergy Louisiana LLC came with a $400 million sale of 10-year collateral trust mortgage bonds.

In other activity, Viacom Inc. held a second day of investor calls in advance of an expected bond deal.

The Markit CDX North American Investment Grade index firmed about 2 bps to close at a spread of 75 bps.

In the secondary market, Verizon Communications Inc.’s senior notes traded flat to about 1 bp tighter.

Google holding company Alphabet Inc.’s 1.998% notes due 2026 firmed about 1 bp.

Kroger Co.’s senior notes (Baa1/BBB/BBB) priced on Monday were mixed earlier in the day.

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