| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Royal Bank of Canada > News item |
Fifth Third, Berkshire Hathaway, RBC, PNC, SMBC price; Ashtead brings split-rated deal
By Cristal Cody
Tupelo, Miss., July 23 – More than $5 billion of bonds priced in the high-grade primary market on Monday.
Fifth Third Bank priced a $1.55 billion three-part offering of senior notes.
Berkshire Hathaway Energy Co. sold $1 billion of long 30-year senior notes.
Royal Bank of Canada tapped the dollar-denominated market with a $900 million sale of two-year floating-rate notes.
PNC Bank, NA sold $750 million of 10-year subordinated notes.
SMBC Aviation Capital Ltd. placed $500 million of five-year notes following a round of fixed-income investor calls.
Also, Ashtead Capital Inc. priced an upsized $600 million of 5.25% guaranteed senior notes due Aug. 1, 2026 (Ba2/BBB-/BBB-) at a spread of Treasuries plus 231 basis points, a source said. The notes were upsized from a $500 million offering and were initially talked to price in the 5.25% to 5.5% area with later guidance at the 5.25% to 5.375% area.
About $20 billion to $25 billion of high-grade supply is forecast for the week, according to syndicate sources.
Last week, more than $33 billion of investment-grade bonds priced with bank and financial supply heavy following the release of second quarter earnings reports.
The Markit CDX North American Investment Grade 30 index closed mostly flat on Monday at a spread of 62 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.