Kroger gets $1 billion; H&R prices C$150 million; RBC sells $100 million

By Devika Patel

Knoxville, Tenn., Jan. 17 – The investment-grade bond market on Tuesday opened with Toronto-based trust H&R Real Estate Investment Trust announcing it sold C$150 million of 2.5-year floating-rate senior debentures at par to yield 123 basis points over CDOR in a private placement in Canada and Toronto-based financial services company Royal Bank of Canada selling $100 million more of its two-year senior floating-rate notes at par to yield Libor plus 45 basis points on Tuesday, lifting the size of the issue to $1 billion.

Also, Calgary, Alta.’s Pembina Pipeline Corp. said it will sell C$600 million in two tranches of senior unsecured medium-term notes, and Cincinnati-based grocery retailer Kroger Co. priced $1 billion of 4.45% 30-year senior notes (Baa1/BBB/BBB) at 99.867 to yield 4.458%, or 150 basis points over Treasuries.

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