Panasonic, Micron Technology, Export Development Canada price; credit spreads tighten

By Cristal Cody

Tupelo, Miss., July 10 – Panasonic Corp. led deal volume on Wednesday with a $2.5 billion three-part Rule 144A and Regulation S offering of notes on Wednesday following a global roadshow.

Also in the primary market, Micron Technology, Inc. sold $1.75 billion of split-rated senior notes in two tranches.

In addition, Export Development Canada priced a $2 billion registered offering of three-year global notes.

The Markit CDX North American Investment Grade 32 index came in about 2 bps on Wednesday to close at a spread of 52 bps.

Market sources report they are eying a possible rate cut of as much as 50 bps at the Federal Reserve’s July 30-31 monetary policy meeting. The focus on the rate cut follows comments from Federal Reserve chairman Jerome Powell who started a two-day monetary policy report to Congress on Wednesday.

© 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.