BNY Mellon, CIBC, State Street, Target, Waste Connections price; European Bank markets notes

By Cristal Cody

Tupelo, Miss., Jan. 21 – Bank and financial issuers continued to dominate pricing action in the high-grade primary market on Tuesday following strong supply last week.

Bank of New York Mellon Corp. priced $1 billion of senior medium-term notes in new and reopened tranches.

Canadian Imperial Bank of Commerce tapped the primary market with $1 billion of five-year senior notes.

Nationwide Building Society priced a $1 billion Rule 144A and Regulation S offering of three-year senior notes.

State Street Corp. sold $750 million of 10-year senior notes.

Also on Tuesday, Target Corp. priced $750 million of 10-year notes.

Waste Connections, Inc. brought an upsized $600 million of 10-year senior notes to the market.

Coming up on Wednesday, the European Investment Bank is expected to price a dollar-denominated offering of three-year floating-rate notes.

About $20 billion to $25 billion of investment-grade issuance is anticipated over the holiday-shortened week.

The bond markets were closed on Monday for the Martin Luther King Day holiday.

High-grade corporate deal volume year to date already totals more than $105 billion.

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