NWB, International Development sell notes; Kommuninvest demand strong

By Cristal Cody

Tupelo, Miss., Nov. 24 – Corporate supply stayed quiet over Tuesday’s session, while a handful of sovereign, supranational and agency issuers tapped the high-grade primary market.

International Development Association (Aaa/AAA) priced a $2 billion Rule 144A and Regulation S offering of 10-year senior notes.

Nederlandse Waterschapsbank NV, or NWB Bank, sold $1 billion of five-year senior notes (Aaa/AAA/) during the session.

Also, Kommuninvest I Sverige AB (Aaa/AAA/) priced a $1 billion Rule 144A and Regulation S offering of notes due Aug. 9, 2023 in a deal that attracted more than $2.3 billion of interest.

Thin pricing action was expected over the Thanksgiving Day holiday week with up to about $5 billion of supply forecast, according to syndicate sources.

On Monday, Blackstone/GSO Secured Lending Fund was the sole reported corporate issuer in the high-grade primary market. The company priced a $300 million Rule 144A and Regulation S reopening of its 3.625% senior notes due Jan. 15, 2026 (Baa3//BBB-) in a deal upsized from $150 million.

Also on Monday, Fannie Mae sold $3.5 billion of new three-year Benchmark Notes.

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