Martin Marietta, Entergy Louisiana price; Becton, Dickinson markets; AT&T flat; Verizon firms

By Cristal Cody

Tupelo, Miss., May 17 – High-grade bond pricing action slowed on Wednesday compared to the volume-heavy sessions on Monday and Tuesday.

In the day’s biggest deal, the European Investment Bank placed $4.5 billion of notes in two tranches.

In corporate issuance, Martin Marietta Materials Inc. came with a $600 million two-part offering of senior notes.

Entergy Louisiana LLC priced $450 million of long 10-year collateral trust mortgage bonds.

Rochester Gas & Electric Corp. brought $300 million of 10-year first mortgage bonds to the primary market.

AT&T Inc. tapped the Canadian primary market on Wednesday with C$1.35 billion two-part offering of global notes due 2024 and 2047. The deal follows AT&T’s $1.5 billion dollar offering of four-year floating-rate global notes on Tuesday.

Coming up, Becton, Dickinson and Co. plan to hold fixed-income investor calls on Thursday and Friday ahead of a dollar- and euro-denominated senior notes offering.

In the secondary market on Wednesday, AT&T’s 4.25% notes due March 1, 2027 were unchanged.

Verizon Communications Inc.’s 4.125% notes due March 16, 2027 firmed 5 basis points.

The Markit CDX North American Investment Grade index softened more than 3 bps over the day to end at a spread of 65 bps.

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