Post-holiday high-grade supply light; Toyota, Athene price; Blackstone/GSO plan deal

By Cristal Cody

Tupelo, Miss., Oct. 13 – Investment-grade supply remained light on Tuesday following the long U.S. Columbus Day holiday.

Toyota Motor Credit Corp. priced $2.75 billion of medium-term notes (A1/A+/A+) in three tranches, including two-year floating- and fixed-rate tranches and a five-year fixed-rate note.

Also, Athene Global Funding priced an upsized $600 million Rule 144A and Regulation S offering of three-year funding agreement-backed senior secured notes (/A/A) on Tuesday.

The deal was upsized from $300 million.

In other market activity, Blackstone/GSO Secured Lending Fund kicked off a two-day session of fixed income investor calls for a Rule 144A and Regulation S offering of dollar-denominated senior notes (Baa3//BBB-) on Tuesday.

About $15 billion to $20 billion of new deal volume is expected this week with market participants eying the potential for more following the release of quarterly earnings reports from the major banks this week.

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