Duke, Las Vegas Sands price; inflows more than double over week

By Cristal Cody

Tupelo, Miss., Nov. 21 – Investment-grade supply on Thursday included issuers in the energy and hospitality spaces.

Duke Energy Florida, LLC sold $900 million of bonds in two tranches, while Las Vegas Sands Corp. priced $500 million of five-year senior notes.

The session also saw a $7 billion three-part offering of split-rated notes (Ba1/BBB-/BB+) from Centene Corp. in an offering that was completed off the high-yield desks.

Meanwhile, Heineken NV (Baa1/BBB+/) held fixed income investor calls on Thursday for a possible high-grade bond offering, according to a market source. J.P. Morgan Securities LLC is the arranger.

Week to date, new issue supply totals more than $18 billion. Market sources expected about $25 billion of volume for the week.

In other activity, corporate investment-grade funds inflows soared to $5.19 billion for the past week ended Wednesday from $2.27 billion a week ago, according to Lipper US Fund Flows.

The Markit CDX North American Investment Grade 33 index headed out mostly unchanged at a spread of 52.9 basis points.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.