Morning Commentary: Toll Brothers, Spirit Realty, Fortune Brands plan to price bonds

By Rebecca Melvin

New York, Sept. 9 – A stream of investment-grade issuers continued to announce new bond offerings early Monday with Toll Brothers Finance Corp., Spirit Realty, LP and Fortune Brands Home & Security, Inc. in the lineup.

Also announcing bond offerings were Baltimore Gas and Electric Co., Plains All American Pipeline LP, financial holding company BB&T Corp. and Mizuho Financial Group Inc.

In secondary market action, a pair of Apple Inc. bonds, which priced last week, were mixed in trading action.

Apple’s 2.05% seven-year notes, which was a $2 billion tranche, were trading little changed at just under par; and the Apple 2.2% 10-year notes, of which $1.75 billion priced last week, were seen up nearly a point at 98.625 in early action.

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