Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2016 > News item |
Morning Commentary: Lowe’s notes mixed; investment-grade credit spreads open stronger
By Cristal Cody
Eureka Springs, Ark., April 13 – Investment-grade corporate bonds traded mostly mixed in the secondary market early Wednesday, while credit spreads opened the session stronger.
Lowe’s Cos. Inc.’s senior notes (A3/A-) brought to market on Monday traded flat to tighter.
The Markit CDX North American Investment Grade index opened the day 2 basis points better at a spread of 78 bps.
The three-month Libor yield was stable at 63 bps.
Secondary trading volume rose to $17.16 billion on Tuesday from $13.4 billion of issues traded on Monday, according to Trace.
Lowe’s mixed
Lowe’s 2.5% notes due 2026 eased 1 bp to 81 bps offered in secondary trading early Wednesday, a market source said.
Lowe’s sold $1.35 billion of the bonds at a spread of Treasuries plus 82 bps on Monday.
The company’s 3.7% bonds due 2046 firmed 2 bps to trade wrapped around issuance at 117 bps offered in the secondary market.
Lowe’s sold $1.35 billion of the bonds on Monday at Treasuries plus 117 bps.
The home improvement company is based in Mooresville, N.C.
© 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.