Kommuninvest upsizes; light supply forecast; Takeda mixed; GATX firms; Comcast eases

By Cristal Cody

Tupelo, Miss., Nov. 21 – Kommuninvest I Sverige AB priced an upsized $1.25 billion of 3% long three-year notes on Wednesday at mid-swaps plus 6 basis points.

Otherwise, market activity was light with no corporate issuance and offices thinly staffed ahead of the Thanksgiving Day holiday on Thursday and early market close on Friday.

High-grade corporate issuers priced $6 billion of bonds on Monday in deals that were led by Takeda Pharmaceutical Co., Ltd.’s $5.5 billion four-part sale of senior notes.

About $5 billion to $10 billion of investment-grade volume was expected by market sources for the week.

In the secondary market, Takeda Pharmaceutical’s senior notes priced to help finance its acquisition of Irish drug maker Shire plc were mixed on Wednesday. The notes on the short end tightened about 1 bp to 2 bps, while the 10-year tranche softened 2 bps.

GATX Corp.’s floating-rate senior notes due Nov. 5, 2021 reopened on Monday improved in secondary trading.

In other trading on Wednesday, Comcast Corp.’s senior notes (A3/A-/A-) that priced as part of a $27 billion 12-tranche offering in October eased about 1 bp after widening about 6 bps in the previous session.

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