High-grade supply heavy; NIKE, McDonald’s, HSBC, Deere, 3M, Pfizer price

By Cristal Cody

Tupelo, Miss., March 25 – Investment-grade issuers pounced on the primary market on Wednesday, pricing nearly $25 billion of bonds.

NIKE, Inc. led the pack with a $6 billion five-part offering of fixed-rate notes.

McDonald’s Corp. sold $3.5 billion of senior medium-term notes in four tranches.

Bank of America Corp. priced a $2.5 billion add-on to its 4.083% medium-term fixed-to-floating-rate senior notes due March 20, 2051.

HSBC Holdings plc sold $2.5 billion of 10-year senior notes.

Deere & Co. priced $2.25 billion of notes in three parts.

Berkshire Hathaway Inc. brought $2 billion of notes in two tranches.

3M Co. priced $1.75 billion of notes in three tranches.

Archer-Daniels-Midland Co. priced $1.5 billion of senior notes in two tranches.

Pfizer Inc. sold $1.25 billion of 10-year senior notes.

O'Reilly Automotive, Inc. placed $500 million of 10-year senior notes.

Also, Bank of Nova Scotia priced $900 million of three-year covered bonds.

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