FirstEnergy, John Deere, Sysco, Toyota price; Municipality Finance, Reckitt plan bond deals

By Cristal Cody

Tupelo, Miss., June 19 – High-grade issuers including FirstEnergy Corp., John Deere Capital Corp. and Toyota Motor Credit Corp. tapped the primary market on Monday.

FirstEnergy brought a $3 billion three-part offering of fixed-rate notes during the session.

John Deere Capital placed $1.25 billion of notes in three tranches.

Also, Sysco Corp. sold $750 million of 10-year notes.

Massachusetts Mutual Life Insurance Co. subsidiary Massachusetts Mutual Global Funding II came with $750 million of seven-year notes.

Toyota Motor Credit priced $600 million of 18-month floating-rate notes.

Looking to primary action on Tuesday, Municipality Finance plc is expected to price a $250 million tap of its existing floating-rate notes due Feb. 7, 2020.

Also, Reckitt Benckiser Group plc will continue a second day of investor calls on Tuesday for an upcoming dollar-denominated senior notes offering.

Several more deals are in the pipeline, a source said.

Market sources forecast about $25 billion of bond issuance over the week.

The Markit CDX North American Investment Grade index closed about 1 basis point tighter at a spread of 60 bps.

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