Supply slows; Camden, TTX, Apollo, Inter-American Development Bank price; inflows return

By Cristal Cody

Tupelo, Miss., June 6 – Investment-grade deal volume slowed on Thursday with a handful of issuers after heavy supply in the previous session.

Camden Property Trust priced $600 million of 10-year notes.

TTX Co. brought a $210 million add-on to its 3.6% senior medium-term notes due Jan. 15, 2025 following fixed income investor calls on Wednesday.

Apollo Management Holdings LP priced a $125 million tap of its 4.872% guaranteed senior notes due Feb. 15, 2029 that were first brought to the market earlier in the year.

In other issuance, the Inter-American Development Bank sold $500 million of global floating-rate notes due March 15, 2022 on top of guidance.

Supply week to date has been led by HCA Inc.’s $5 billion three-part offering of split-rated senior secured notes priced on Wednesday.

Meanwhile, Lipper US Fund Flows on Thursday reported corporate investment-grade funds had inflows of $924 million for the week ended Wednesday.

Corporate funds had two consecutive weeks of outflows, including $5.1 billion for the week ended May 29 and $756 million of outflows in the prior week.

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