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EQT, Credit Agricole, London Branch bring corporate supply; KfW, Finnvera price new notes
By Cristal Cody
Tupelo, Miss., Sept. 27 – High-grade corporate and SSA issuers tapped the primary market on Wednesday.
In corporate supply, EQT Corp. led deal action with a $3 billion four-tranche offering of notes.
EQT priced $500 million of three-year floating-rate notes at par to yield Libor plus 77 bps; $500 million of 2.5% three-year fixed-rate senior notes at 99.992 to yield 2.503%; $750 million of 3% five-year senior notes at 99.738 to yield 3.057%; and $1.25 billion of 3.9% 10-year notes at 99.918 to yield 3.91%.
Credit Agricole SA, London Branch also came with $1.5 billion of seven-year notes.
Credit Agricole priced the notes on the tight side of guidance in the Treasuries plus 120 bps area.
In other supply, KfW priced a $1 billion offering of five-year global green bonds. KfW priced the 2% five-year global green bonds on Wednesday at 99.684, according to a market source and an FWP filing with the SEC.
Finnvera plc sold $1 billion of three-year notes. Finnvera (Aa1/AA+/) priced the 1.875% three-year notes at mid-swaps plus 6 bps, or a spread of Treasuries plus 29.7 bps.
The Markit CDX North American Investment Grade 29 index tightened more than 1 basis point to a spread of 57.4 bps during the session.
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