Morning Commentary: TransCanada Pipelines markets senior notes; Royal Caribbean holds calls

By Cristal Cody

Tupelo, Miss., Nov. 15 – TransCanada Pipelines Ltd. is marketing two tranches of dollar-denominated senior notes on Wednesday in the investment-grade market.

Other issuers are holding fixed income investor calls for possible bond offerings, a source said.

Royal Caribbean Cruises Ltd. (Baa3/BBB-) is expected to continue a second day of calls on Wednesday. BofA Merrill Lynch, BNP Paribas Securities Corp., Goldman Sachs & Co., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc. are the arrangers.

On Tuesday, Citadel LP (BBB) wrapped a two-day round of fixed income investor calls, a source said. J.P. Morgan Securities LLC and UBS Securities LLC are the call arrangers.

Risk markets were weaker over the morning, a market source said.

The three-month Libor yield was up 1 basis point to 1.42%.

In the secondary market, trading volume fell to $15.88 billion on Tuesday from $16.6 billion on Monday, according to Trace.

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