Walmart sells $16 billion notes; supply heavy; RBS, EQT, Marvell, UBS, BofA print bonds

By Cristal Cody

Tupelo, Miss., June 20 – Walmart Inc. beat market deal size forecasts with a $16 billion nine-part sale of senior notes on Wednesday.

The offering surpassed initial market expectations of about $10 billion of notes.

More than $24 billion of corporate bonds were priced during session. Other corporate issuers on Wednesday included Royal Bank of Scotland Group plc, EQT Midstream Partners, LP, Marvell Technology Group Ltd., UBS AG, London Branch, Bank of America Corp., AIG Global Funding and Xcel Energy Inc.

Crown Castle International Corp. subsidiaries also were offering $1 billion of senior secured tower revenue notes (Baa3/BBB-/BBB-) in a Rule 144A and Regulation S transaction.

In other supply, Finnvera plc priced $1 billion of five-year notes tighter than guidance.

More than $41 billion of bonds have priced week to date, with $31 billion just from Wal-Mart’s deal and Bayer AG’s $15 billion eight-part offering of senior notes on Monday.

About $35 billion to as much as $50 billion of volume is expected by market sources for the week.

The Markit CDX North American Investment Grade 30 index ended mostly unchanged at a spread of 63 basis points.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.