Midday Commentary: Issuers jump into high-grade market prior to election

By Andrea Heisinger

New York, Nov. 5 - Monday saw a flurry of new issues from investment-grade issuers trying to get a deal done prior to Tuesday's elections.

The day's largest offering was from AbbVie, Inc., which is raising money to spin off from Abbott Laboratories. The sale is expected to be one of the largest of 2012, a market source said.

"There's no size set yet, but we could see a new record," he said.

Among other companies planning to price bonds are Boardwalk Pipelines, LP and Invesco Finance plc. There's a split-rated trade from Interpublic Group of Cos. Inc.

Australia-based Leighton Finance USA Property Ltd. sold $500 million of 10-year notes in a private sale Monday morning.

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