Campbell sells $5.3 billion; Standard Chartered, Caterpillar, Toyota Industries in primary

By Cristal Cody

Tupelo, Miss., March 12 – Issuance came in heavy on Monday in what is predicted to be a busy week for high-grade corporate bond issuance.

Campbell Soup Co. led the deal action during the session with a $5.3 billion seven-tranche offering of notes.

Standard Chartered plc came with $1.75 billion of notes in two tranches.

Caterpillar Financial Services Corp. priced $1.15 billion of medium-term notes in three parts.

Toyota Industries Corp. tapped the primary market on Monday following its roadshow earlier in the month with a $1 billion two-part bond deal.

Also on Monday, Fifth Third Bancorp sold $650 million of 10-year senior notes.

WGL Holdings, Inc. raised $250 million in a sale of two-year floating-rate senior notes.

In addition, issuance on Monday included a $300 million 10-year note deal from Southwest Gas Corp.

In other action, Sprint Corp. subsidiaries Sprint Spectrum Co. LLC, Sprint Spectrum Co. II LLC and Sprint Spectrum Co. III LLC plan to price wireless spectrum-backed senior secured notes (Baa2//BBB) in two tranches following a telephone roadshow on Monday and Tuesday, a source said.

Also on Monday, Valero Energy Partners LP (Baa3/BBB-/BBB-) held fixed income investor calls for a possible deal, a source said. Barclays, Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc. and MUFG are the arrangers.

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