High-grade deal volume strong; Sempra, Sumitomo, Crown Castle, Athene, EIB price notes

By Cristal Cody

Tupelo, Miss., Jan. 9 – Sempra Energy led deal action in the high-grade bond market on Tuesday with $5 billion of senior notes priced in seven tranches.

The notes were seen 2 basis points tighter in the grey markets, a source said.

Sumitomo Mitsui Financial Group Inc. came with a $4.75 billion five-part offering of dollar-denominated senior notes.

Also on Tuesday, Crown Castle International Corp. sold $1.75 billion of senior notes in two tranches. Crown Castle priced $750 million of 3.15% long five-year notes at 99.63 to yield 3.224% and $1 billion of 3.8% 10-year notes at 99.615 to yield 3.846%.

Athene Holding Ltd. priced $1 billion of 10-year senior notes.

In other issuance, Jabil Inc. placed $500 million of 10-year senior notes.

Also, the European Investment Bank priced $5 billion of five-year global notes tighter than initial price talk.

Supply is expected to be heavy over the week with about $25 billion to $30 billion of volume forecasted by market sources for the week.

Credit spreads softened on Tuesday. The Markit CDX North American Investment Grade 29 index eased about 1 bp to a spread of 46 bps.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.