Rabobank, Burlington Northern, British Air, Deere, Scotiabank, CIBC price

By Cristal Cody

Tupelo, Miss., July 15 – High-grade issuers priced more than $5 billion of securities over Monday’s session.

Cooperatieve Rabobank U.A., Burlington Northern Santa Fe, LLC, British Airways plc, John Deere Capital Corp. Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Reliance Standard Life Global Funding II and Terrafina, LLC all priced deals.

In addition, Westpac Banking Corp. was marketing subordinated notes in two tranches during the session.

About $25 billion to $30 billion of supply, led by bank and financial issuers, is expected by market sources this week.

Volume was heavy last week with investment-grade issuers pricing more than $32 billion of bonds, compared to syndicate forecasts of about $15 billion to $20 billion of volume.

The Markit CDX North American Investment Grade 32 index closed mostly unchanged at a spread of 53 basis points.

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