Mondelez, Societe Generale, Guardian Life, EBRD in primary

By Cristal Cody

Tupelo, Miss., June 30 – A few issuers offered bonds in the high-grade primary market on Tuesday following $12.5 billion of issuance on Monday.

Mondelez International, Inc. priced $1 billion of two-year notes (Baa1/BBB/) more than 30 basis points tighter than talk.

Also, Societe Generale SA (A1/A/A) offered two tranches of senior medium-term notes during the session.

The deal includes five-year notes with initial price talk at the Treasuries plus 125 bps to 130 bps area and 15-year notes talked to print at the 310 bps spread area.

Guardian Life Global Funding offered $350 million of seven-year notes (Aa2/AA+/) with initial price talk at the Treasuries plus 105 bps to 110 bps area.

Also, European Bank for Reconstruction and Development (Aaa/AAA/AAA) launched a $1 billion offering of three-year global notes on top of talk at mid-swaps plus 7 bps.

Supply week to date totals more than $13.5 billion.

Volume was strong on Monday, led by Takeda Pharmaceutical Co., Ltd.’s $7 billion four-part offering of senior notes (Baa2/BBB+/) and Sumitomo Mitsui Financial Group Inc.’s $3 billion two-tranche sale of senior notes (A1/A-/).

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