Enterprise Products, American Honda, Total among issuers; AIB readies offering

By Cristal Cody

Tupelo, Miss., Oct. 3 – Enterprise Products Operating LLC led high-grade issuance on Wednesday with a $3 billion three-tranche offering of senior notes.

Also, American Honda Finance Corp. priced $1.75 billion of medium-term notes in three parts.

Total Capital tapped the primary market with a $1 billion offering of 10-year guaranteed notes.

Supply week to date has been heavy with more than $40 billion of high-grade issuance, including Comcast Corp.’s $27 billion 12-part offering of senior notes that priced on Tuesday.

In other action, AIB Group plc is holding fixed-income investor calls and meetings that started on Tuesday for a Rule 144A and Regulation S dollar-denominated offering of notes.

In its deal, Enterprise Products Operating priced $3 billion of senior notes (Baa1/BBB+/BBB+) in three parts on Wednesday, according to an FWP filing with the Securities and Exchange Commission.

The company sold $750 million of 3.5% notes due Feb. 1, 2022 at 99.985 to yield 3.506%, or Treasuries plus 55 bps.

A $1 billion tranche of 4.15% 10-year notes priced at 99.764 to yield 4.179%, or Treasuries plus 100 bps.

Also, $1.25 billion of 4.8% notes due Feb. 1, 2049 priced at 150 bps over Treasuries, or 99.39 to yield 4.839%.

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