Rentenbank, Macquarie Bank, Autodesk price; Apple tightens; AT&T mixed; Citigroup eases

By Aleesia Forni and Cristal Cody

Virginia Beach, June 2 – Landwirtschaftliche Rentenbank, Macquarie Bank Ltd. and Autodesk Inc. issued bonds during a slower session for the investment-grade bond market.

In the day’s largest deal, Rentenbank sold $1.5 billion of 10-year notes in line with price talk.

Macquarie Bank priced a new $750 million subordinated tier 2 note at the tight end of initial guidance, attracting more than $3 billion of orders for the new deal.

Autodesk sold an upsized $750 million two-tranche issue of notes at the tight end of talk.

The three deals came to market following a weaker session on Monday, in which issuers priced $7.7 billion of paper.

In total, more than $10 billion of investment-grade issuance has sold so far this week.

Investment-grade bonds were mixed over Tuesday’s session.

Apple Inc.’s 2.5% notes due 2025 tightened 5 basis points in the secondary market.

AT&T Inc.’s bonds (/BBB+/A-) were mostly unchanged to moderately tighter going out.

In other trading, Citigroup Inc.’s 3.3% senior notes due 2025 widened 3 bps.

Goldman Sachs Group Inc.’s 3.75% senior notes due 2025 were flat.

The Markit CDX North American Investment Grade series 23 index was unchanged at a spread of 64 bps. The CDX index has a 12-month low of 59.4 and a 12-month high of 76.4, according to a Barclays Bank plc report on Tuesday.

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