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High-grade deal volume revs up; Carlisle sells $1 billion; CBS, Florida Light, ConEd price
By Cristal Cody
Tupelo, Miss., Nov. 13 – Pricing action remained heavy over Monday’s session in the high-grade bond market.
About $25 billion to $30 billion of deal volume is expected for the week, according to a market source.
The Markit CDX North American Investment Grade 29 index closed modestly softer at a spread of 56 basis points.
Carlisle Cos. Inc. priced $1 billion of notes (Baa2/BBB/) in two tranches.
The company sold $400 million of 3.5% seven-year notes at 99.893 to yield 3.517%.
Carlisle priced $600 million of 3.75% 10-year notes at 99.601 to yield 3.798%.
CBS Corp. priced a $900 million two-tranche offering of senior notes (/BBB/BBB) in a Rule 144A private offering.
The company sold $400 million of 2.9% notes due June 1, 2023.
CBS priced $500 million of 3.7% notes due June 1, 2028.
Florida Power & Light Co. sold $700 million of 3.7% first mortgage bonds due Dec. 1, 2047 (Aa2/A/AA-) on Monday at 99.209 to yield 3.744.
Consolidated Edison Co. of New York, Inc. priced a $700 million two-part offering of series 2017B and 2017C debentures (A2/A-/A-).
The company sold $350 million of 3.125% 10-year debentures at 99.974 to yield 3.128% and $350 million of 4% debentures due Nov. 15, 2057 at 99.604 to yield 4.02%.
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