Choice Hotels, Tokyo Metro, IFC tap primary; Japan Agency markets bonds

By Cristal Cody

Tupelo, Miss., July 9 – Corporate and sovereign, supranational and agency issuers tapped the high-grade primary market over Thursday’s session, pushing week-to-date deal volume to about $36 billion.

Choice Hotels International, Inc. sold an upsized $450 million offering of senior notes due Jan. 15, 2031 (Baa3/BBB-/) following fixed income investor calls on Wednesday.

In SSA issuance, Tokyo Metropolitan Government (/A+/) priced $1.5 billion of five-year senior notes.

International Finance Corp. (Aaa/AAA/) sold $2 billion of five-year global notes.

Additional corporate and SSA issuers also are marketing bonds, sources report.

Carpenter Technology Corp. is expected to price $400 million of eight-year split-rated senior notes (Ba3/BBB-/) on Friday.

Retail Properties of America, Inc. (Baa3/BBB-/BBB+) also is holding fixed income investor calls for a possible bond offering.

On Friday, Japan International Cooperation Agency plans to hold fixed income investor calls for a dollar-denominated registered offering of 10-year guaranteed bonds.

More than $17 billion of corporate high-grade bonds and nearly $19 billion of SSA notes have priced week to date. About $20 billion to $25 billion of deal volume was expected for the week.

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