Amgen, FMS, Baxter among high-grade issuers; credit spreads soften; Duke Energy bonds improve

By Cristal Cody

Eureka Springs, Ark., Aug. 10 – Mid-week pricing action remained strong with several high-grade issuers in the primary market on Wednesday.

Amgen Inc. priced $3.75 billion of five-, seven- and 10-year senior notes and an add-on to its 4.4% senior notes due 2045.

FMS Wertmanagement sold $2 billion of three-year senior notes during the session.

Baxter International Inc. tapped the primary market with a $1.6 billion three-part offering of senior notes.

Bunge Ltd. Finance Corp. raised $700 million in an offering of 10-year senior notes.

Black Hills Corp. priced a $700 million two-part offering of senior notes.

The Markit CDX North American Investment Grade index closed about 1 basis point weaker at a spread of 72 bps.

Duke Energy Corp.’s new senior notes (Baa1/BBB+/BBB+) traded earlier in the day about 2 bps tighter in the secondary market.

The three-month Libor yield rose 2 bps to 81 bps on Wednesday.

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