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EverBank prices; H.J. Heinz better in secondary; AT&T, Verizon firm; General Motors active
By Cristal Cody
Tupelo, Miss., June 26 – The primary market saw one deal during Friday’s session from EverBank Financial Corp.
The company priced $175 million of 5.75% 10-year subordinated notes at par.
Investment-grade corporate issuers brought about $20 billion of issuance over the week, about $5 billion less than initially forecasted.
With the short holiday week coming up, only about $10 billion to $15 billion of high-grade corporate issuance is expected in the week ahead.
In the secondary market, H.J. Heinz Co.’s senior notes (Baa3/BBB-/) priced earlier in the week have been “doing pretty good,” a source said.
In other trading, AT&T Inc.’s 3.4% notes due 2025 improved about 1 basis point.
Verizon Communications Inc.’s 3.5% notes due 2024 tightened 3 bps in trading.
General Motors Co.’s bonds (Ba1/BBB-/BBB-) have traded heavily over the past week.
The Markit CDX North American Investment Grade series 23 index closed modestly weaker to unchanged at a spread of 67 bps.
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