IBM, Tech Data sell notes; Quebec, Nordic Bank price; AT&T tightens; Time Warner eases

By Cristal Cody

Eureka Springs, Ark., Jan. 24 – Nearly $8 billion of bonds priced on Tuesday from high-grade corporate and SSA issuers.

International Business Machines Corp. came with a $2.75 billion four-part offering of senior notes.

Tech Data Corp. sold $1 billion of senior notes in two tranches.

Also, Jackson National Life Insurance Co. priced a $900 million two-part offering of notes.

In other issuance, Nordic Investment Bank priced an upsized $1.25 billion of five-year global notes.

Quebec tapped the dollar market with a $2 billion offering of five-year global notes during the session.

In other activity, Guardian Life Insurance Co. of America announced on Tuesday that it closed on its $350 million private Rule 144A- and Regulation S-eligible offering of 60-year surplus notes.

The Markit CDX North American Investment Grade index eased about 1 basis point to end at a spread of 65 bps.

In the secondary market, bonds from AT&T Inc. and Time Warner Inc. were mixed.

AT&T announced plans in October to acquire Time Warner in an $85.4 billion cash and stock deal expected to close before the end of 2017.

AT&T’s 4.125% notes due 2026 traded about 5 bps tighter on Tuesday.

Time Warner’s 2.95% notes due 2026 softened about 3 bps.

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