Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Federal Home Loan Bank System > News item |
Fifth Third Bancorp, Reliance Standard price; Zions eyes primary; supply thin week to date
By Cristal Cody
Tupelo, Miss., Oct. 23 – Investment-grade bond supply on Wednesday included two corporate deals.
Fifth Third Bancorp priced a $750 million registered offering of long five-year senior notes 15 basis points tighter than initial talk.
Reliance Standard Life Global Funding II sold an upsized $400 million of five-year funding agreement-backed notes, also 15 bps better than initial guidance.
In other action on Wednesday, Zions Bancorporation NA (Baa1/BBB+/BBB) held fixed income investor calls for a subordinated note offering expected to soon follow, according to market sources.
High-grade deal volume has thinned with just over $4 billion of corporate bonds priced week to date. About $15 billion to $20 billion of supply was anticipated by syndicate sources for the week.
Market participants report focus has turned toward weak company earnings releases and a possible rate cut at the Federal Reserve’s upcoming Oct. 29-30 monetary policy meeting.
In other activity, the Federal Home Loan Bank System announced early Wednesday that it will not issue or reopen a Global Note on its Oct. 23 funding calendar date. The next Global Note opportunity will be on Nov. 6.
© 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.