Morgan Stanley, PNC, Western and Southern, Dexia, Canada price; Ontario, Experian ahead

By Cristal Cody

Tupelo, Miss., Jan. 17 – Deal volume stayed strong over Thursday’s session with continued issuance in the financial space and supply from sovereign, supranational and agency issuers.

Morgan Stanley priced $3 billion of 11-year fixed-to-floating-rate senior notes.

PNC Financial Services Group, Inc. sold $750 million of five-year senior notes.

In other corporate issuance, Western and Southern Life Insurance Co. priced $500 million of 30-year notes following a round of fixed-income investor calls at the start of the week.

Other bank and financial issuers in the primary market this week have included Wells Fargo & Co., J.P. Morgan Chase & Co. and Citibank, NA.

Meanwhile, Dexia Credit Local SA priced $1.25 billion of three-year senior notes on Thursday.

Canada sold $3 billion of three-year global notes.

Coming up on Friday, the Province of Ontario plans to price a dollar-denominated offering of five-year global notes.

The deals follow the Province of Alberta’s $1.75 billion of five-year global bonds that priced on Tuesday.

Looking ahead to the upcoming week, Experian plc will hold a roadshow and conduct fixed-income investor calls for a dollar-denominated offering.

This week to date, high-grade issuers have priced more than $33 billion of bonds, including more than $25 billion of corporate notes.

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