Goldman, Williams, Brixmor, Kommunalbanken price; UniCredit eyes deal; credit spreads flat

By Cristal Cody

Tupelo, Miss., May 31 – Goldman Sachs Group Inc. led the pricing action in the high-grade bond market on Wednesday with a $5 billion three-part offering of notes.

Goldman Sachs sold $750 million of six-year floating-rate notes at Libor plus 105 bps; $1.75 billion of 2.908% fixed-to-floating-rate notes due June 5, 2023 at a spread of 115 bps over Treasuries; and $2.5 billion of 3.691% 11-year fixed-to-floating-rate notes at a Treasuries plus 148 bps spread.

Also in the primary market, Williams Partners LP priced $1.45 billion of 10-year senior notes.

Brixmor Operating Partnership LP sold $500 million of seven-year senior notes.

In other investment-grade issuance, Kommunalbanken AS placed an upsized $400 million reopening of its senior floating-rate notes due March 17, 2020.

In other activity, details emerged for a roadshow planned by UniCredit SpA.

UniCredit intends to hold roadshows in the United States, Canada and Asia beginning Monday for a Rule 144A/Regulation S offering of dollar-denominated subordinated notes, according to a market source.

BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC, J.P. Morgan Securities LLC, Societe Generale CIB and UniCredit Capital Markets LLC are arranging the investor meetings.

The Markit CDX North American Investment Grade index was stable at a spread of 62 basis points.

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