Midday Commentary: Whirlpool firms in secondary trading; spreads mostly unchanged

By Aleesia Forni

Columbus, Ohio, Feb. 25 - The tone of the investment-grade bond market was positive early Monday, sources said, as Friday's new deal from Whirlpool Corp. was trading better in the secondary.

However, one trader noted that spreads were generally "wrapped around unchanged for the most part."

Whirlpool's $250 million of 3.7% 10-year notes was quoted 6 basis points tighter at 169 bps bid, 166 bps offered.

The notes were sold with a spread of Treasuries plus 175 bps.

Meanwhile, the $250 million tranche of 5.15% 30-year bonds was quoted 1 bp better at 199 bps bid, 197 bps offered following Friday's pricing with a spread of Treasuries plus 200 bps.

Whirlpool is a Benton Harbor, Mich.-based appliance maker.

© 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.