Oracle prints $14 billion; Express Scripts, GM Financial, ITC price; Molson Coors mixed

By Cristal Cody

Eureka Springs, Ark., June 29 – The investment-grade bond market rebounded on Wednesday with more than $20 billion of bonds priced over the session.

Oracle Corp. sold $14 billion of senior notes in five parts: $4.25 billion of 1.9% notes due Sept. 15, 2021 at Treasuries plus 90 basis points, $2.5 billion of 2.4% notes due Sept. 15, 2023 at Treasuries plus 110 bps, $3 billion of 2.65% notes due July 15, 2026 at Treasuries plus 120 bps, $1.25 billion of 3.85% notes due July 15, 2036 at Treasuries plus 155 bps and $3 billion of 4% notes due July 15, 2046 at Treasuries plus 170 bps.

BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the bookrunners.

Express Scripts Holding Co. priced $4 billion of senior notes in three tranches.

General Motors Financial Co., Inc. sold $2 billion of five-year fixed-rate notes, dropping a planned five-year tranche of floating-rate notes.

ITC Holdings Corp. also tapped the primary market with a $400 million sale of 10-year senior notes.

The Markit CDX North American Investment Grade index closed the day 4 basis points better at a spread of 81 bps.

In the secondary market, Molson Coors Brewing Co.’s notes priced on Tuesday traded mostly flat to modestly tighter.

Anheuser-Busch InBev Finance Inc.’s 3.65% notes due 2026 headed out mostly flat.

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