Apple does $12 billion megadeal; Deutsche Bank paper tightens

By Aleesia Forni and Cristal Cody

New York, Feb. 16 – Apple Inc. and Comcast Corp. sold bonds on Tuesday, reopening the high-grade primary market following the extended Presidents Day holiday weekend.

Apple’s $12 billion megadeal sold in nine tranches, with all pieces of the deal selling between 10 basis points to 15 bps inside initial price thoughts.

And Comcast sold both tranches of its $2.25 billion new issue tight of price talk.

The session also saw Federal Home Loan Banks prep a $5 billion offering notes in two parts expected to price during Wednesday’s session.

Elsewhere in the primary, International Business Machines Corp. announced plans to price an offering of senior notes.

Deutsche Bank AG’s paper (A3/BBB+/A) continued to tighten in the secondary market on Tuesday and traded about 20 bps better over the day.

The bank announced a tender offer on Friday to purchase €3 billion of euro-denominated notes and $2 billion of dollar-denominated senior notes.

The Markit CDX North American Investment Grade index ended the day 1 bps tighter at a spread of 121 bps.

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