Mars prices four tranches; MUFG sells notes; JBIC sets price talk; credit spreads firm

By Cristal Cody

Tupelo, Miss., July 13 – Investment-grade supply included deals from Mars Inc. and Mitsubishi UFJ Financial Group, Inc. on Monday.

Mars priced a $2.5 billion Rule 144A and Regulation S four-part offering of guaranteed senior notes (A1/A) tighter than talk.

Mitsubishi UFJ Financial sold $3 billion of registered senior notes (A1/A-/A) in two tranches, also better than initial guidance on Monday.

Coming up on Tuesday, Japan International Cooperation Agency plans to price $500 million of 10-year registered guaranteed bonds.

Initial price talk is in the mid-swaps plus 50 basis points area.

The Markit CDX North American Investment Grade 33 index ended Monday’s session about 1.5 basis points tighter from Friday at a spread of 73.1 bps.

The iShares iBoxx Investment Grade Corporate Bond ETF softened 0.26% to 135.51.

The Pimco Investment Grade Corporate Bond index declined 0.24% to 115.05.

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