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Published on 9/26/2017 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily, Prospect News Preferred Stock Daily and Prospect News Private Placement Daily.

Ontario, NetApp, Magellan, Clorox, American Airlines tap primary; credit spreads firm

By Cristal Cody

Tupelo, Miss., Sept. 26 – Primary action revved up on Tuesday with several issuers tapping the high-grade bond market.

The Province of Ontario priced a $2 billion offering of five-year bonds.

In corporate issuance, NetApp Inc. placed $800 million of senior notes in two tranches.

Magellan Midstream Partners, LP priced $500 million of 30-year senior notes.

Clorox Co. sold $400 million of 10-year senior notes.

Also, American Airlines, Inc. priced a $220,723,000 offering of pass-through certificates.

The Markit CDX North American Investment Grade 29 index tightened about 1 basis point to end at a spread of 59 bps.


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