Nationwide, Aviation Capital price; AT&T upsizes; Burlington prices better than talk

By Cristal Cody

Tupelo, Miss., July 25 – Several issuers priced notes on the tight side of guidance on Wednesday, while high-grade credit spreads continued to tighten.

Nationwide Building Society sold $1 billion of six-year fixed-to-floating-rate notes on the tight side of guidance.

Aviation Capital Group LLC’s $800 million of fixed- and floating-rate notes also priced on the tight side of guidance.

In other issuance, AT&T Inc. upsized its offering of $25-par global notes due Aug. 1, 2067 to $750 million from $250 million, a source said. The notes priced on the tight side of talk.

Burlington Northern Santa Fe, LLC’s $750 million of long 30-year senior debentures priced better than talk.

More than $13 billion of high-grade bonds have priced week to date. Market sources forecast about $20 billion to $25 billion of weekly supply.

Fifth Third Bank leads corporate issuance week to date in deal size with a $1.55 billion three-part offering of senior notes that priced on Monday.

The largest bond issue priced in the first three sessions was in SSA volume from International Finance Corp., which sold $2 billion of five-year notes tighter than talk on Tuesday.

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