ANZ, Citigroup, Home Depot price; Vornado upsizes; energy bonds firm in aftermarket

By Aleesia Forni and Cristal Cody

Virginia Beach, June 9 – Issuers including ANZ Banking Group Ltd. and Citigroup Inc. kicked off what is expected to be yet another busy week for the high-grade bond market.

Home Depot Inc. and John Deere Capital Corp. were both in the market pricing $2 billion offerings of senior notes.

Vornado Realty LP, Oglethorpe Power Corp., Arizona Public Service Co. and TTX Co. also came to Monday’s primary with smaller-sized deals to round out the day’s $8.7 billion of supply.

Meanwhile, the preferred market saw Capital One Financial Corp. price $500 million of 6.25% series C fixed-rate noncumulative perpetual preferred stock.

In forward calendar news, Svensk Exportkredit AB set price talk for its planned $1 billion five-year global bond offer, while Wintrust Financial Corp. announced plans to price an offering of subordinated notes.

Around $20 billion to $25 billion of new issuance is expected this week, down from last week’s figure of more than $30 billion of supply.

Investment-grade bonds were mostly unchanged to slightly better on the day, according to market sources.

The Markit CDX North American Investment Grade series 22 index headed out flat at a spread of 57 basis points.

Electric utility bonds brought over the session tightened in aftermarket trading, a trader said.

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