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JPMorgan prices $10 billion; LyondellBasell, RBC, World Bank tap primary; EIB in pipeline
By Cristal Cody
Tupelo, Miss., April 15 – The high-grade primary market saw fewer deals on Wednesday, but volume remained strong with more than $21 billion of bonds priced during the session.
JPMorgan Chase & Co. sold $10 billion of fixed-to-floating-rate notes in four tranches in the largest bank deal on record, a source said.
LyondellBasell Industries NV subsidiary LYB International Finance III BV brought $2 billion of guaranteed notes in three tranches to the primary market.
Also in the finance space, Royal Bank of Canada priced $1.25 billion of three-year senior global medium-term notes.
In sovereign, supranational and agency supply on Wednesday, the International Bank for Reconstruction and Development, or World Bank, sold $8 billion of five-year sustainable development bonds.
Also, the Federal Home Loan Bank System planned to price a new Global bond due April 14, 2025.
Coming up on Thursday, the European Investment Bank is expected to price $3 billion of five-year global notes.
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