Midday Commentary: General Dynamics bonds firm in secondary market

By Aleesia Forni

Columbus, Ohio, Nov. 2 - The investment-grade secondary market saw the new bonds from General Dynamics Corp. firm 2 basis points to 3 bps in early trading on Friday, a market source said.

The company's 1% notes due 2017 were quoted at 38 bps bid following Thursday's pricing of $900 million of the notes at a spread of 40 bps over Treasuries.

The notes due 2022 tightened 3 bps to 62 bps bid. The $1 billion 2.25% notes priced at a spread of Treasuries plus 65 bps.

Meanwhile, the $500 million 30-year bond was quoted at 72 bps bid, firming 3 bps from Thursday.

Based in Falls Church, Va., General Dynamics is an aerospace and defense company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.