JPMorgan; Swedish Export, Physicians Realty, Eversource Energy price; Disney notes improve

By Cristal Cody

Tupelo, Miss., March 2 – Pricing action held up on Thursday with investment-grade issuers placing $4.15 billion of bonds.

JPMorgan Chase & Co. priced $1.75 billion of four-year senior floating-rate notes.

Swedish Export Credit Corp. brought $1.4 billion of five-year notes.

Physicians Realty LP sold $400 million of 10-year guaranteed senior notes.

Eversource Energy and the Connecticut Light and Power Co., doing business as Eversource Energy, tapped the primary market with a $600 million two-part offering.

More than $40 billion of high-grade bonds have priced over the week.

The Markit CDX North American Investment Grade index was mostly unchanged at a spread of 60 basis points.

Walt Disney Co.’s $2 billion of medium-term notes (A2/A/A) priced in four tranches in the previous session traded modestly better in the secondary market.

Discovery Communications, LLC’s senior notes (Baa3/BBB-/BBB-) sold on Tuesday improved.

Discovery’s 3.8% notes due March 13, 2024 traded up to 99.51 from 99.45 on Wednesday in secondary trading, a source said. Its reopened 4.9% notes due March 11, 2026 were better at 104.91 from 104.50 in the previous session.

Chevron Corp.’s senior notes (Aa2/AA-/) priced on Tuesday were modestly softer on Thursday.

Chevron’s 1.686% notes due Feb. 28, 2019 went out a nickel lower on the day at 99.95 on Thursday, according to a market source. Chevron’s 2.895% notes due March 3, 2024 weakened to 99.53 from where the notes went out at 99.79 in the previous session.

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