Ecolab, AerCap, Avangrid, Ameren Illinois, Main Street Capital price; credit spreads firm

By Cristal Cody

Tupelo, Miss., Nov. 16 – Investment-grade issuance remained steady over Thursday’s session.

Ecolab Inc. came with two tranches of senior notes in an upsized $825 million offering.

Ecolab sold $500 million of 3.25% 10-year notes at a spread of Treasuries plus 93 bps. The notes priced tighter than talk in the Treasuries plus 100 bps area.

Ecolab priced $325 million of 3.95% 30-year notes with a Treasuries plus 118 bps spread. The bonds were upsized by $25 million and priced tighter than guidance in the Treasuries plus 125 bps spread area.

AerCap Ireland Capital DAC and AerCap Global Aviation Trust sold $800 million of long seven-year guaranteed senior notes.

Avangrid, Inc. priced $600 million of seven-year senior notes.

Ameren Illinois Co. tapped the primary market with a $500 million offering of 30-year first mortgage bonds.

Main Street Capital Corp. sold $185 million of five-year notes.

In addition, Andeavor Logistics LP/Tesoro Logistics Finance Corp. and Huntington Ingalls Industries, Inc. were offering senior notes.

Credit spreads improved over the session. The Markit CDX North American Investment Grade 29 index firmed about 2 basis points to a spread of 55 bps.

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