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General Motors issues $750 million floater; Societe Generale sells $1.5 billion of 10-year notes
By Devika Patel
Knoxville, Tenn., Nov. 13 – Primary activity in the investment-grade bond market perked up a bit on Friday, with two deals pricing, after a slow Thursday but a busy week overall.
About $25 billion to $30 billion of high-grade supply was expected by syndicate sources this week. In total, the primary investment-grade supply was actually just over $32 billion, exceeding expectations.
Fort Worth-based General Motors Financial Co., Inc. (Baa3/BBB/BBB) priced $750 million of three-year floating-rate senior notes on Friday at a 120 basis points spread to SOFR via bookrunner Goldman Sachs & Co. LLC.
Proceeds will be used for general corporate purposes.
Also on Friday, Paris-based bank Societe Generale priced $1.5 billion of 5.375% 10-year notes at par.
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