Aetna, Citigroup, Brixmor, Nasdaq, RBC tap bond market; Mylan tightens; Pfizer mixed

By Cristal Cody

Eureka Springs, Ark., June 2 – High-grade issuers priced nearly $18 billion of new bonds on Thursday, with the first two sessions of June already seeing more than $20 billion of volume.

On Thursday, Aetna Inc. priced a $13 billion eight-tranche offering of senior notes.

The bookrunners were Citigroup Global Markets Inc. and UBS Securities LLC.

Proceeds will be used to fund a $3.2 billion term loan and the cash portion of the purchase price of the company’s merger with Humana Inc., according to a 424B3 filing with the Securities and Exchange Commission.

In addition, Citigroup Inc. sold $3 billion in three tranches of notes.

Brixmor Operating Partnership LP priced $600 million of 10-year senior notes during the session.

Nasdaq, Inc. brought a $500 million offering of 10-year senior notes to the primary market.

Royal Bank of Canada also priced $500 million of two-year senior medium-term notes.

In the secondary market, Mylan NV’s $6.5 billion senior notes (Baa3/BBB-/BBB-) that priced in four tranches on Tuesday traded about 3 basis points to 9 bps tighter earlier in the day.

Pfizer Inc.’s $5.6 billion notes (A1/AA/A+) placed in five parts on Tuesday traded mostly flat to about 6 bps better early Thursday.

The Markit CDX North American Investment Grade index closed mostly unchanged at a spread of 78 bps.

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