| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers P > Headlines for Procter & Gamble Co. > News item |
Midday Commentary: Ford, Wells Fargo firm, Procter & Gamble eases
By Cristal Cody
Tupelo, Miss., Aug. 12 - Investment-grade bonds traded flat to wider early Monday following disappointing Japanese economic data, market sources said.
"There's minimal activity this morning," a trader said. "One name has gotten tighter; everything else is just kind of floating around, trading sideways. It's very, very quiet."
Ford Motor Credit Co. LLC's split-rated 4.375% notes due 2023 traded 2 basis points to 5 bps tighter to 180 bps bid, 175 bps offered over the morning, the trader said.
The financing arm of Dearborn, Mich.-based automaker Ford Motor Co. sold $1 billion of the notes (Baa3/BB+/BBB-) on Thursday at a spread of Treasuries plus 178 bps.
Wells Fargo & Co.'s 4.125% subordinated medium-term notes due 2023 also firmed to 154 bps bid, 151 bps offered, a trader said.
The San Francisco-based financial services company sold $1.5 billion of the notes (A3/A/A+) at a spread of Treasuries plus 160 bps.
In other trading early Monday, Procter & Gamble Co.'s 3.1% notes due 2023 moved a "tad wider" to 63 bps bid, 69 bps offered, a trader said. The notes (Aa3/AA-) also were quoted wider at 65 bps bid, 61 bps offered earlier in the day.
The Cincinnati-based consumer products company sold the issue in a $1 billion offering at a spread of Treasuries plus 60 bps on Thursday.
Boston Scientific Corp.'s 2.65% senior notes due 2018 (Baa3/BBB-/BBB-) traded at 125 bps bid, 123 bps offered, unchanged from Friday but still tighter than issuance, a trader said.
The Natick, Mass.-based medical device maker sold $600 million of the five-year notes on Thursday at a spread of Treasuries plus 130 bps.
The Markit CDX Series 20 North American Investment Grade index ended Friday at a spread of 75 bps.
© 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.