Midday Commentary: Lexmark International, Praxair notes weaken in secondary market

By Aleesia Forni

Columbus, Ohio, Feb. 28 - Wednesday's new issues from Lexmark International, Inc. and Praxair, Inc. were trading wider during Thursday's session, a trader said.

Lexmark International's upsized $400 million offering of seven-year senior notes was quoted at 100 bid, 100.375 offered at midday following Wednesday's sale at 99.998 to yield 5.125%.

The notes due March 15, 2020 priced at a spread of 389.4 basis points over Treasuries.

Lexmark is a Lexington, Ky.-based imaging, printing and software company.

Meanwhile, Praxair's $500 million of 1.2% notes due 2018 was quoted 3 bps wider on the day.

The notes were quoted at 48 bps bid, 44 bps offered early during Thursday's trading.

The Danbury, Conn.-based industrial gas producer sold the notes on Wednesday at a spread of 45 bps over Treasuries.

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