JPMorgan, Wells Fargo, Kroger sell notes; Sweden ahead; Alimentation Couche-Tard on deck

By Cristal Cody

Tupelo, Miss., July 17 – Monday saw strong pricing action with investment-grade issuers including JPMorgan Chase & Co., Wells Fargo & Co., American Honda Finance Corp. and Kroger Co. in the primary market.

Also on Monday, Government Properties Income Trust and AerCap Ireland Capital DAC/AerCap Global Aviation Trust sold bonds.

Coming up on Tuesday, the Kingdom of Sweden (Aaa/AAA/AAA) plans to price a benchmark sized dollar-denominated offering of notes due July 25, 2019 in a Rule 144A and Regulation S offering, according to a market source.

Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and Nomura Securities International, Inc. are the bookrunners.

Also, Alimentation Couche-Tard Inc. (Baa2/BBB/) will continue a second round of investor calls on Tuesday for its previously announced Rule 144A/Regulation S senior note offering, according to a market source.

HSBC, MUFG and Wells Fargo Securities, LLC are arranging the calls.

Alimentation Couche-Tard also plans a Canadian-dollar-denominated senior note private placement deal.

Market sources forecast about $25 billion to $30 billion of high-grade bond supply for the week.

The Markit CDX North American Investment Grade index firmed about 1 basis point to end at a spread of 57 bps.

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