Macquarie, AIB, Vereit price; high-grade inflows positive; CenterPoint, Comcast improve

By Cristal Cody

Tupelo, Miss., Oct. 4 – Primary action continued on Thursday with new deals in the high-grade bond market from Macquarie Group Ltd., AIB Group plc and Vereit Operating Partnership LP.

Macquarie Group sold $850 million of fixed-to-floating rate notes.

AIB Group tapped the primary market with a $750 million issue following a roadshow this week.

Vereit Operating Partnership priced $550 million of seven-year senior notes in an offering upsized by $50 million, according to a market source.

Supply has been heavy over the week with more than $42 billion of investment-grade issuance, including Comcast Corp.’s $27 billion 12-part offering of senior notes on Tuesday.

About $40 billion to $45 billion of new issue supply was expected by market sources for the week.

For the week ended Oct. 3, Lipper US Fund Flows reported inflows of $1.22 billion for corporate investment-grade funds, compared to inflows of $1.78 billion in the prior week.

Bonds were mixed in secondary trading.

CenterPoint Energy, Inc.’s $1.5 billion issue of fixed-rate senior notes (Baa1/BBB+/BBB) that priced in three parts on Wednesday improved about 4 basis points to 5 bps.

Comcast’s new notes traded about 3 bps to more than 10 bps tighter than issuance.

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