American Electric, VEON, TJX, Stryker, JAB, SEK, European Bank tap primary

By Cristal Cody

Tupelo, Miss., Nov. 18 – Strong pricing action continued for a third consecutive day in the high-grade primary market on Wednesday.

American Electric Power Co., Inc. priced $1.5 billion of floating- and fixed-rate senior notes (Baa2/BBB+/BBB+) in three tranches.

VEON Holdings BV came by with $1.25 billion of split-rated seven-year senior notes (Ba2/BB+/BBB-/) following fixed income investor calls at the start of the week.

TJX Cos., Inc. priced $1 billion of fixed-rate senior notes (A2/A/) in two tranches during the session.

Stryker Corp. brought $600 million of three-year notes (Baa1/A-/) to the primary market.

In addition, JAB Holdings BV sold $500 million of 10-year senior notes (Baa2/BBB+/) following investor calls for the offering on Monday.

In other supply, Trustmark Corp. sold $125 million of 10-year fixed-to-floating rate subordinated notes on Wednesday.

The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced $1.5 billion of five-year global notes.

Swedish Export Credit Corp. sold $700 million of floating-rate notes due May 25, 2023 (Aa1/AA+/) in an offering upsized from $500 million.

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