Morning Commentary: Maxim Integrated Products in deal pipeline; primary action slows

By Cristal Cody

Tupelo, Miss., June 8 – Maxim Integrated Products, Inc. announced plans early Thursday to price 10-year senior notes (Baa1/BBB+) via bookrunners BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, MUFG and Wells Fargo Securities, LLC.

No other straight high-grade issuers were reported in the day’s deal pipeline at the start of the session, but additional supply is expected on Thursday and possibly Friday, a source said.

More than $15 billion of bonds have priced week to date.

The bulk of the day’s market attention is expected to be focused on former FBI director James Comey’s Senate testimony, the European Central Bank’s monetary policy press conference and the United Kingdom’s general election.

In secondary market activity, volume climbed to $18.77 billion on Wednesday from $17.62 billion on Tuesday and $12.79 billion on Monday, according to Trace.

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