Lloyds sells $4 billion notes; Celgene, GATX, Philip Morris, Constellation, Amgen price

By Cristal Cody

Tupelo, Miss., Oct. 31 – Lloyds Banking Group plc led pricing action in the investment-grade bond market on Tuesday with a $4 billion two-tranche offering of senior callable fixed-to-floating rate notes.

Lloyds sold $2.25 billion of 2.907% notes due 2023 and $1.75 billion of 3.574% notes due Nov. 7, 2028 at par.

In other supply, Celgene Corp. priced a $3 billion three-tranche offering of senior notes.

Celgene sold $750 million of 2.75% notes due Feb. 15, 2023 at 99.944 to yield 2.762%, $1 billion of 3.45% 10-year notes at 99.848 to yield 3.468% and $1.25 billion of 4.35% 30-year notes at 99.733 to yield 4.366%.

Constellation Brands, Inc. came with $2 billion of senior notes in three tranches.

Amgen Inc. sold $1 billion of 10-year senior notes.

GATX Corp. placed $300 million of long 10-year senior notes.

Also, Nederlandse Waterschapsbank NV priced a $500 million tap of its 1.75% senior notes due Sept. 5, 2019.

Deal action was strong during the session with several offerings, including issuance expected from Philip Morris International Inc.

The Markit CDX North American Investment Grade 29 index tightened about 1 basis point to close at a spread of 52 bps.

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