Takeda sells $5.5 billion; Wisconsin Public Service, GATX price; PG&E, DowDuPont stable

By Cristal Cody

Tupelo, Miss., Nov. 19 – Takeda Pharmaceutical Co., Ltd. priced $5.5 billion of senior notes in four tranches in the high-grade primary market on Monday.

Proceeds from the deal will be used to help fund the company’s acquisition of Irish drug maker Shire plc.

Also on Monday, Wisconsin Public Service Corp. sold $400 million of three-year senior notes.

GATX Corp. returned to the primary market to price a $100 million reopening of three-year floating-rate notes.

Syndicate sources forecast about $5 billion to $10 billion of investment-grade volume this week.

The bulk of the week’s supply is expected over the first two sessions due to the Thanksgiving Day holiday. The bond markets will close on Thursday and will close at 2 p.m. ET on Friday for the Thanksgiving Day holiday.

The Markit CDX North American Investment Grade 31 index eased about 1 basis point on Monday to a spread of 76 bps.

In the secondary market, Pacific Gas & Electric Co.’s senior notes were mostly unchanged in light trading activity on Monday after softening in the previous week, sources said.

DowDuPont Inc.’s notes that priced as part of its $12.7 billion eight-part offering of senior notes on Wednesday were mostly unchanged on the day.

© 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.