IHS Markit brings add-on; World Bank, European Bank price; credit spreads firm

By Cristal Cody

Tupelo, Miss., Aug. 21 – IHS Markit Ltd. priced a $350 million reopening of its 4.25% senior notes due May 1, 2029 on Wednesday 10 basis points tighter than where the issue first priced in April.

The deal was the only high-grade corporate offering reported in the primary market during the session.

In sovereign, supranational and agency supply, the International Bank for Reconstruction and Development priced $4 billion of fixed-rate notes in two tranches.

Also, the European Bank for Reconstruction and Development sold $600 million of three-year global floating-rate notes.

Week to date, corporate issuers have priced $9.65 billion of bonds, in line with the $10 billion of supply forecast for the week.

Primary action is expected to slow over the rest of August with heavy volume forecast in September, according to market sources.

The Markit CDX North American Investment Grade 32 index firmed 2 bps to end the day at a spread of 55 bps.

New issues priced this week were mixed in the secondary market.

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