Interstate Power, TD Bank price; Shire starts roadshow; Pitney Bowes plans deal; CDX firms

By Cristal Cody

Eureka Springs, Ark., Sept. 12 – New investment-grade bond issuance priced on Monday included deals from Interstate Power and Light Co. and Toronto-Dominion Bank.

Interstate Power and Light sold $300 million of 30-year senior debentures.

Toronto-Dominion Bank priced $100 million of two-year floating-rate senior medium-term notes.

LegacyTexas Financial Group, Inc. and Southside Bancshares, Inc. also planned to price new bonds.

About $40 billion of high-grade bond volume is expected for the week.

Shire Acquisitions Investments Ireland DAC kicked off a roadshow on Monday for a five-tranche offering of senior notes guaranteed by Dublin-based parent company Shire plc.

Investor meetings are scheduled in the U.S. markets Monday through Wednesday and in London on Thursday. Bank of America Merrill Lynch, Barclays and Morgan Stanley & Co. Inc. are the bookrunners.

Also in the deal pipeline, Pitney Bowes Inc. announced plans to price an offering of senior notes.

The Markit CDX North American Investment Grade index tightened 3 basis points over the day to close at a spread of 73 bps.

In the secondary market, Toronto-Dominion Bank’s new 3.625% non-viability contingent capital subordinated notes due 2031 traded more than 10 bps tighter than issuance.

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