WEA, John Deere, 21st Century in primary; AngloGold Ashanti mostly better; spreads narrow

By Cristal Cody and Aleesia Forni

Virginia Beach, Sept. 10 – WEA Finance LLC, John Deere Capital Corp., 21st Century Fox America Inc. and European Bank for Reconstruction and Development issued new bonds on Wednesday.

WEA Finance and Westfield UK & Europe Finance plc priced $3.5 billion of senior notes in four tranches.

Meanwhile, 21st Century Fox priced a $1.2 billion offering of senior notes in two tranches.

The European Bank for Reconstruction and Development (EBRD) sold a $225 million tap of its existing notes due 2019.

In forward calendar news, Federal Home Loan Banks announced plans to sell an add-on to its 0.5% global notes due 2016.

So far, this week has seen roughly $21.2 billion of new issuance.

Even with this month’s onslaught of supply and growing signs of investor fatigue, the pace of issuance in the primary market is expected to continue in the coming sessions.

In secondary activity over the session, AngloGold Ashanti Ltd.’s bonds priced through its financing arm, AngloGold Ashanti Holdings plc, traded mostly better, a trader said.

High-grade credit spreads improved over the day after softening in the first part of the week, market sources said.

The Markit CDX North American Investment Grade series 22 index firmed 1 basis point to a spread of 58 bps.

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