Westpac Banking, Dominion, Albemarle issue bonds; Scripps firms; Albemarle mixed

By Aleesia Forni and Cristal Cody

Virginia Beach, Nov. 17 – Another flood of issuers raced to the primary market on Monday, pricing more than $8 billion during the session.

Westpac Banking Corp. came to market with $2 billion of three-year notes in fixed- and floating-rate tranches.

Also on Monday, Dominion Resources Inc. sold $1.65 billion of senior notes in three parts.

Albemarle Corp. sold $1.03 billion of senior notes in three parts, attracting an orderbook that was more than five times oversubscribed.

In other primary happenings, Scripps Networks Interactive Inc. sold a $1 billion two-part offering.

KeyBank NA also came to Monday’s primary, upsizing its new $750 million offering from an initial size of $500 million and garnering a book that was more than three times oversubscribed.

The session also saw new deals price from Interstate Power & Light Co., Duke Energy Progress Inc., DTE Energy Co. and Nationwide Financial Services Inc.

With the market continuing to feel supportive, players are preparing for another $30 billion-plus week for the final full week of the month.

In the secondary market, Scripps Networks’ two tranches of notes tightened 1 basis point to 1.5 bps, a trader said.

Albemarle’s notes traded wrapped around issuance to 1 bp weaker on the long issue, a trader said.

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