Deal action slows; Florida Power prices $750 million; Harris sells floaters; AT&T eases

By Cristal Cody

Tupelo, Miss., Nov. 1 – Investment-grade deal action slowed on Wednesday with two U.S. bond issuers in the primary market during the session.

Florida Power & Light Co. priced $750 million of three-year floating-rate notes.

Harris Corp. sold $250 million of senior floating-rate notes due April 30, 2020.

The Federal Reserve left rates unchanged on Wednesday following a two-day monetary policy meeting.

On Thursday, President Donald Trump is expected to give a nomination for chairman of the Federal Reserve.

In other activity expected on Thursday, Nederlandse Waterschapsbank NV intends to hold investor calls for a four-year green bond offering.

The Markit CDX North American Investment Grade 29 index eased nearly 1 basis point to a spread of 53 bps.

AT&T Inc.’s bonds (Baa1/BBB+/A-) headed out flat to about 2 bps softer in secondary trading.

The company is expected to close on its $85.4 billion cash and stock acquisition of Time Warner Inc. (Baa2/BBB/BBB+) before the end of the year.

Time Warner’s 2.95% notes due July 15, 2026 were unchanged.

© 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.