Mitsubishi, Toyota, Amcor, OeKB among day’s issuers; Wells Fargo, BofA notes trade

By Cristal Cody

Eureka Springs, Ark., April 19 – High-grade primary action heated up on Tuesday with more than $6 billion priced over the session.

Mitsubishi UFJ Financial Group, Inc. priced $2 billion in add-ons to three tranches of notes first brought to market on Feb. 23.

Toyota Motor Credit Corp. sold $1 billion of one-year floating-rate medium-term notes.

Amcor Finance (USA), Inc. upsized its 10-year senior notes offering by $100 million to $600 million.

Guardian Life Global Funding tapped the primary market with a $500 million sale of five-year notes.

In addition, the Asian Development Bank priced $3.5 billion of notes in two tranches on Tuesday.

Oesterreichische Kontrollbank Aktiengesellsschaft brought a $2 billion dollar-denominated offering of three-year guaranteed global notes over the session.

The Canadian high-grade bond market is expected to see some issuance later in the week, a syndicate source said.

“The market’s in very good shape and there has been lots of demand,” the source said.

In the secondary market, Wells Fargo & Co.’s 3% senior notes due 2026 were among the most traded of the day, a source said. The notes were seen 5 basis points tighter.

Bank of America Corp.’s 3.5% senior notes due 2026 also were active in secondary trading and improved 7 bps.

The Markit CDX North American Investment Grade index closed the day 2 bps tighter at a spread of 76 bps.

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