Ford, National Bank, Waste Management, Citizens, Markel, NextEra price; credit spreads flat

By Cristal Cody

Tupelo, Miss., Oct. 30 – High-grade issuers kicked the week off with a busy round of bond deals on Monday.

Ford Motor Credit Co. LLC came with a $2 billion three-tranche offering of senior notes.

Ford Motor Credit sold $250 million of three-year floating-rate notes at par to yield Libor plus 43 bps; $1 billion of 2.343% three-year fixed-rate notes at par; and $750 million of 3.815% 10-year notes at par.

National Bank of Canada sold $1.25 billion of three-year notes in two parts.

National Bank of Canada brought $250 million of three-year floating-rate notes to the primary market at Libor plus 33 bps and priced $1 billion of 2.2% three-year notes at a spread of Treasuries plus 55 bps.

Waste Management, Inc. priced $750 million of 10-year senior guaranteed notes.

Citizens Bank, NA sold $750 million of three-year senior notes.

Markel Corp. brought $600 million of senior notes in two tranches to the primary market.

NextEra Energy Capital Holdings Inc. priced $550 million of 60-year fixed-to-floating-rate guaranteed junior subordinated debentures.

Also, Colgate-Palmolive Co. placed $400 million of five-year medium-term notes.

A strong deal pipeline is expected for the week with about $25 billion to $30 billion of total weekly supply forecasted by market sources.

The Markit CDX North American Investment Grade 29 index closed mostly unchanged at a spread of 53 basis points.

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