Fox, Citibank, Air Lease, American Homes 4 Rent, Alberta, Kommuninvest, KfW tap primary

By Cristal Cody

Tupelo, Miss., Jan. 15 – Fox Corp. tapped the high-grade primary market on Tuesday with a $6.8 billion five-part offering of notes.

Proceeds from the deal will be used to pay the tax liability that will be created when the issuer’s parent predecessor company, 21st Century Fox America, Inc., spins off assets before it is acquired by Walt Disney Co.

In other investment-grade issuance, Citibank, NA priced $2.25 billion of five-year notes.

Air Lease Corp. brought $700 million of five-year medium-term notes to the primary market.

American Homes 4 Rent LP sold $400 million of 10-year senior notes.

In the sovereign, supranational and agency space, the Province of Alberta placed $1.75 billion of five-year global bonds during the session.

KfW priced $5 billion of five-year global notes.

Kommuninvest I Sverige AB also sold $1.5 billion of long three-year notes.

Elsewhere in corporate action, Western and Southern Life Insurance Co. continued to hold investor calls on Tuesday for a Rule 144A and Regulation S offering of 50-year fixed-to-floating-rate surplus notes, a source said.

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