Goldman sells $5 billion; Guardian Life, European Investment price; Harvest plans calls

By Cristal Cody

Tupelo, Miss., April 18 – More investment-grade bank paper came on Wednesday with market sources expecting the supply to continue on Thursday.

Goldman Sachs Group Inc. led the day’s bond deal volume with a $5 billion two-part offering of fixed-to-floating-rate senior notes.

In other corporate issuance, Guardian Life Global Funding sold $300 million of five-year notes.

Also on Wednesday, the European Investment Bank brought $1.5 billion of long seven-year notes to the primary market.

Coming up on Thursday, the European Bank for Reconstruction and Development (Aaa/AAA/AAA) plans to sell benchmark-sized three-year notes that were initially talked to price with a spread in the mid-swaps minus 2 basis points area.

In other market action, Harvest Operations Corp. will hold fixed-income investor calls beginning Thursday for a dollar-denominated note deal.

Market sources predict as much as $35 billion of volume for the week, though extra supply could push the total higher.

Deal action has picked up from the previous week.

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