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ArcelorMittal, Mitsubishi UFJ, Inter-American Bank in primary; high-grade flows decline
By Cristal Cody
Tupelo, Miss., July 11 – ArcelorMittal tapped the high-grade primary market on Thursday with a $1.25 billion two-tranche offering of fixed-rate senior notes.
Mitsubishi UFJ Financial Group, Inc. also was marketing four tranches of registered fixed-rate senior notes due 2022, 2024, 2029 and 2039 during the session.
In addition, Inter-American Development Bank (IADB) offered a $250 million reopening of its global floating-rate notes due March 15, 2022 on Thursday, according to a market source.
In other pricing action, First Capital Realty Inc. sold C$200 million of senior debentures due Jan. 22, 2027.
Lipper US Fund Flows reported Thursday that corporate investment-grade fund inflows declined to $570 million for the week ended Wednesday from $1.76 billion a week earlier.
Meanwhile, credit spreads eased on Thursday. The Markit CDX North American Investment Grade 32 index closed about 1 bp softer at a spread of 53 bps.
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