Adobe, Citi, TD Bank, Couche-Tard, National Rural price; European Investment Bank sells notes

By Cristal Cody

Tupelo, Miss., Jan. 22 – Investment-grade supply on Wednesday included a $3.15 billion four-tranche bond deal from Adobe Inc.

During the session, bank supply also continued with deals from Citigroup Inc. and Toronto-Dominion Bank.

Citigroup sold $2.25 billion of fixed-to-floating-rate senior notes due Jan. 29, 2031.

Toronto-Dominion Bank priced $1 billion of three-year floating-rate senior medium-term notes.

Also on Wednesday, Alimentation Couche-Tard Inc. placed a $1.5 billion two-part Rule 144A and Regulation S offering of senior notes better than guidance.

National Rural Utilities Cooperative Finance Corp. priced an upsized $1 billion of senior notes and collateral trust bonds on Wednesday.

In other issuance, the European Investment Bank sold $1 billion of three-year floating-rate notes.

Week to date, more than $14 billion of investment-grade bonds have priced.

About $20 billion to $25 billion of issuance is expected for the holiday-shortened week after the markets were closed Monday for Martin Luther King Day.

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