AmEx, Motorola, Laclede price; Government Properties on deck; Motorola, Aon firm

By Aleesia Forni and Cristal Cody

Virginia Beach, Aug. 12 – The high-grade primary market’s momentum continued on Tuesday, with issuers raising more than $4.4 billion of supply.

American Express Credit Corp. priced $1.9 billion of five-year notes in fixed- and floating-rate tranches.

Motorola Solutions Inc. priced a $1.4 billion three-part offering of notes in tranches due 2021, 2024 and 2044.

And Laclede Group Inc. sold a $625 million three-part offering of senior notes.

There was also a $350 million add-on priced by Aon plc during the session.

Finally, Old National Bancorp issued an upsized $175 million of 10-year senior notes.

Looking ahead, Government Properties Income Trust announced plans to price a $250 million offering of senior notes this week.

So far, this week has seen $13.8 billion of supply, nearing the $15 billion to $20 billion expected range.

American Express Credit’s 2.25% notes due 2019 traded flat to 2 bps tighter on the offered side in aftermarket trading, according to a trader.

Motorola Solutions’ 3.5% notes due 2021 were offered 10 basis points tighter in the secondary market, while the company’s 4% notes due 2024 traded mostly unchanged, according to a trader.

Traders did not see Motorola’s tranche of 5.5% bonds due 2044 brought during the session.

Aon’s 3.5% notes due 2024 firmed 3 bps on the offered side in aftermarket trading.

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