High-grade supply soars; Cigna, Edison, John Deere, Delta, eBay, Smucker price

By Cristal Cody

Tupelo, Miss., March 4 – Investment-grade issuers reportedly priced more than $18 billion of bonds over Wednesday’s session.

The deals follow over $6 billion of issuance on Tuesday in what was the heaviest supply seen since mid-February.

The primary market was quiet on Monday.

Corporate primary action on Tuesday was expected to include deals from Cigna Corp., BP Capital Markets America Inc., Delta Air Lines Inc., Berkshire Hathaway Finance Corp., Southern California Edison Co., J.M. Smucker Co., Waste Connections, Inc., Healthcare Realty Trust Inc., eBay Inc., Avery Dennison Corp., L3Harris Technologies, Inc., Newmont Corp., John Deere Capital Corp. and Truist Financial Corp.

Cigna priced $3.5 billion of senior notes in three tranches.

Southern California Edison priced $1.1 billion of first and refunding mortgage bonds in two parts.

John Deere Capital priced $1 billion of senior medium-term notes in two tranches.

Delta Air Lines sold $1 billion of pass-through certificates in two parts.

eBay priced $1 billion of senior notes in two tranches.

J.M. Smucker sold $800 million of notes in two tranches.

Avery Dennison priced $500 million of 10-year senior notes.

Healthcare Realty Trust sold $300 million of 10-year senior notes.

Waste Connections priced $500 million 30-year senior notes.

Newmont sold $1 billion of 10-year senior notes.

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