| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Oracle Corp. > News item |
European Investment Bank markets offering; Old Republic to price; Microsoft, Oracle notes ease
By Cristal Cody
Eureka Springs, Ark., Aug. 23 – Primary action in the high-grade market is beginning to slow ahead of the Labor Day holiday, but some issuers planned to tap the market on Tuesday.
The European Investment Bank was marketing five-year global notes guided at mid-swaps plus 27 basis points.
Also, Old Republic International Corp. intended to price 10-year senior notes.
About $5 billion of supply is expected over the week.
RioCan Real Estate Investment Trust tapped the Canadian primary market and sold C$250 million of 2.185% four-year senior debentures (/BBB-/DBRS: BBB) at par to yield a spread of 160 bps over the interpolated Government of Canada bond curve.
“We’re getting pretty close to Labor Day,” one source said. “We could get something else in; the market’s in pretty good shape.”
The Markit CDX North American Investment Grade index closed 1 bp tighter at a spread of 71 bps.
Investment-grade bonds were mixed in secondary trading earlier in the day.
Microsoft Corp.’s 2.4% senior notes due 2026 traded about 2 bps weaker.
Oracle Corp.’s 2.65% senior notes due 2026 were about 1 bp softer.
Microsoft softens
Microsoft’s 2.4% notes due 2026 were trading about 2 bps weaker at 77 bps offered earlier on Tuesday, according to a market source.
The company sold $4 billion of the notes (Aaa/AAA) on Aug. 1 at a spread of 90 bps over Treasuries.
The computer software company is based in Redmond, Wash.
Oracle eases
Oracle’s 2.65% notes due 2026 were seen about 1 bp weaker at 97 bps offered in early secondary trading, a source said.
The company sold $3 billion of the notes (A1/AA-) on June 29 at Treasuries plus 120 bps.
The computer software and technology company is based in Redwood City, Calif.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.