Ford Motor Credit prices; Barclays, BNP, Duke Energy Florida bring deals; AT&T tightens

By Cristal Cody

Eureka Springs, Ark., Jan. 4 – Ford Motor Credit Co. LLC tapped the high-grade primary market on Wednesday to sell $3 billion of senior notes.

Also, Lloyds Banking Group plc and American Airlines, Inc. were among the reported issuers preparing securities deals.

The first two sessions of 2017 already have seen more than $20 billion of issuance, a source reports.

In other pricing action, details emerged on new transactions from Barclays plc, BNP Paribas and Duke Energy Florida, LLC.

Barclays priced $5 billion of callable senior notes in four tranches.

BNP Paribas sold $1.75 billion of seven-year senior non-preferred medium-term notes.

Duke Energy Florida priced $900 million of first mortgage bonds in two tranches.

The Markit CDX North American Investment Grade index ended Wednesday about 2 basis points tighter at a spread of 64 bps.

Bonds were mixed in the secondary market.

AT&T Inc.’s 4.125% notes due 2026 tightened 10 bps on Wednesday.

AT&T announced plans in October to acquire Time Warner Inc. in an $85.4 billion cash-and-stock deal.

Time Warner’s 2.95% notes due 2026 were unchanged on the day.

FedEx Corp.’s $1.2 billion of notes (Baa2/BBB/) priced in two tranches in the previous session were seen about 1 bp to 3 bps tighter than issuance in secondary trading.

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