British Columbia, EBRD price; BGC, Thermo Fisher eyed; PayPal notes firm; Walmart mixed

By Cristal Cody

Tupelo, Miss., Sept. 20 – High-grade supply continued to enter the bond market on Friday with deals from the Province of British Columbia and the European Bank for Reconstruction and Development.

British Columbia sold $1.25 billion of five-year global bonds tighter than guidance.

EBRD priced an upsized $700 million of five-year green climate resilience bonds.

Corporate deals also were being marketed over the session.

Customers Bancorp Inc. offered five-year senior notes.

BGC Partners, Inc. started fixed income investor calls on Friday for a dollar-denominated offering of senior notes. The deal size is expected at $300 million, according to a Fitch Ratings release.

Looking ahead to next week, Thermo Fisher Scientific Inc. expects to begin marketing a dual-currency offering of senior notes with fixed income investor calls.

Week to date, reported corporate supply totals more than $18 billion. Market sources expected about $25 million of deal volume for the week.

SSA issuance came to more than $6 billion for the week.

In the secondary market, PayPal Holdings Inc.’s $5 billion of notes (BBB+/BBB+) that priced in four tranches on Thursday tightened 2 basis points to 3 bps.

Walmart Inc.’s $1.5 billion two-part offering of senior notes (Aa2/AA/AA) that priced on Thursday were mixed in secondary trading.

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