JPMorgan, Prologis, Air Lease, E*Trade price; Kommuninvest plans deal; Bayer in pipeline

By Cristal Cody

Tupelo, Miss., June 11 – JPMorgan Chase & Co. led deal action in the high-grade primary market on Monday with a $2.5 billion offering of notes in two tranches.

Prologis, LP also brought $700 million of guaranteed notes in two parts.

Air Lease Corp. sold $500 million of five-year senior notes.

E*Trade Financial Corp. placed a $420 million 10-year senior note issue.

PPL Electric Utilities Corp. priced $400 million of 30-year first mortgage bonds.

Florida Power & Light Co. also was marketing floating-rate notes due 2068 at Libor plus 30 basis points during the session.

Coming up on Tuesday, Kommuninvest I Sverige AB intends to price a dollar-denominated offering of long two-year notes.

Also, Bayer AG is scheduled to hold fixed-income investor calls this week for a possible dollar-denominated Rule 144A and Regulation S deal.

In other action, Canada Pension Plan Investment Board announced it intends to price an inaugural issue of green bonds.

Looking further on the horizon, there could be a bond offering from Marvell Technology Group Ltd.

Market sources forecast about $15 billion to $20 billion of supply over the week with heavier volume expected in the front half due to events that include President Donald Trump’s meeting on Tuesday with North Korea’s leader Kim Jong Un and central bank policy meeting announcements. Some are predicting as little as $10 billion of volume.

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