Lloyds, Welltower, CNH, Charter price; United Technologies, Elanco hold calls

By Cristal Cody

Tupelo, Miss., Aug. 9 – Lloyds Banking Group plc led pricing action in the high-grade bond market on Thursday with a $3 billion two-tranche offering of senior notes.

Welltower Inc. also was in the primary market with $1.3 billion of senior notes in three tranches.

Two issuers priced split-rated bonds during the session.

CNH Industrial Capital LLC sold $500 million of long five-year senior notes (Ba1/BBB/BBB-).

Charter Communications, Inc. subsidiaries Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. reopened their senior secured floating-rate notes due Feb. 1, 2024 (Ba1/BBB-/BBB-) in a $500 million tap on Thursday.

In other action, United Technologies Corp. is holding fixed-income investor calls through Friday for an offering to help fund the company’s long-planned acquisition of Rockwell Collins, Inc.

Also on Thursday, Elanco Animal Health Inc. (Baa3/BB+/) held fixed-income investor calls for a potential $2.5 billion offering of senior notes to finance its spin-off from Eli Lilly & Co., according to a market source.

Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the arrangers.

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