Home Depot, National Rural Utilities, Fannie price; Comcast, Charter Communications ease

By Cristal Cody

Tupelo, Miss., Feb. 3 – High-grade primary action on Wednesday included deals from Home Depot Inc. and National Rural Utilities Cooperative Finance Corp.

Home Depot sold $3 billion of notes (A2/A/A) in three tranches.

National Rural Utilities Cooperative Finance brought to market $700 million of collateral trust bonds in two tranches.

Regions Financial Corp. announced plans to tap the market.

Fannie Mae was in the primary market on Wednesday with a $3 billion sale of 1.375% Benchmark Notes, which priced at a spread of 16.5 basis points plus Treasuries.

The biggest chunk of the deal, 86%, went to investors in the United States, according to Fannie Mae. Asian and European investors took 6% each of the notes, while the remainder went to other investors.

Fund managers took 54% of the deal. Commercial banks gained 16% of the notes. The rest was split among central banks, insurance companies, other investors, state and local governments, corporate investors and pension funds and retail investors.

Also on Wednesday, Canada priced $150 million of 1.276% Canada global notes due Feb. 10, 2020 at par.

Investment-grade bonds traded mostly flat to wider on Wednesday.

Comcast Corp.’s 4.6% senior notes due 2045 eased 1 bp and remain weak in secondary trading.

Charter Communications Inc.’s bonds (Ba1/BBB-) traded 1 bp to 2 bps softer.

The Markit CDX North American Investment Grade index closed unchanged at a spread of 108 bps.

© 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.