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JPMorgan sells $3 billion notes; Quebec, IADB price; JPMorgan paper flat; Comcast notes mixed
By Cristal Cody
Eureka Springs, Ark., July 14 – Investment-grade bond issuance on Thursday included new deals from JPMorgan Chase & Co., the Province of Quebec and Inter-American Development Bank.
JPMorgan Chase sold $3 billion of 2.95% 10-year senior Holdco notes after the company reported second quarter earnings beat market forecasts.
JPMorgan said it earned $6.2 billion, or $1.55 per share, beating analyst expectations of $1.43 a share for the quarter ended June 30. In the same period a year ago, JPMorgan reported $6.3 billion of profit, or $1.54 per share.
In other primary action, Quebec priced $900 million of three-year floating-rate medium-term notes.
Inter-American Development Bank (IADB) sold $500 million of five-year global floating-rate notes.
Investment-grade bonds were mixed in the secondary market.
JPMorgan’s existing paper traded mostly unchanged on the day.
Comcast Corp.’s notes (A3/A-/A-) priced on Tuesday to fund its acquisition of DreamWorks Animation SKG, Inc. were mixed.
The Markit CDX North American Investment Grade index ended the day about 1 basis point tighter at a spread of 70 bps.
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