Fannie Mae, EIB, Comcast, Berkshire, American Airlines price; Time Warner notes firm

By Cristal Cody

Eureka Springs, Ark., Jan. 5 – Primary action remained strong for a third straight session in the investment-grade bond market with more than $12 billion of reported securities priced on Thursday.

Fannie Mae sold $3 billion of five-year Benchmark Notes.

The European Investment Bank placed $4 billion of five-year benchmark global SEC registered notes.

Comcast Corp. priced $2.5 billion of senior notes in two tranches on Thursday.

Berkshire Hathaway Finance Corp. brought $1.3 billion of floating-rate senior notes in two parts during the session.

Boardwalk Pipelines, LP sold $500 million of long 10-year senior notes.

In addition, Caterpillar Financial Services Corp. brought a $1.3 billion two-tranche offering of notes.

American Airlines, Inc. also returned to the primary market for a second time this week to sell $197,777,000 of class B series 2017-1B pass-through certificates. It priced the class AA and class A securities from the same deal on Wednesday.

The Markit CDX North American Investment Grade index closed the day mostly unchanged at a spread of 64 basis points.

Media reports surfaced on Thursday that president-elect Donald Trump remains opposed to the merger of AT&T Inc. and Time Warner Inc.

AT&T announced plans in October to acquire Time Warner in an $85.4 billion cash and stock deal.

AT&T’s 4.125% notes due 2026, which tightened 10 bps on Wednesday, traded flat on Thursday.

Time Warner’s 2.95% notes due 2026 tightened 6 bps in the secondary market.

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