| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Omers Finance Trust > News item |
Morning Commentary: Investment-grade primary market quiet; Omers Finance bond deal eyed
By Cristal Cody
Tupelo, Miss., April 25 – The high-grade bond market opened Thursday with little activity reported as focus turned to a slew of corporate earnings releases and economic data reports.
No reported corporate issuers were offering notes registered with the Securities and Exchange Commission.
A deal is expected soon from Omers Finance Trust, which held fixed income investor calls this week for a Rule 144A and Regulation S offering of dollar-denominated five-year notes, according to a market source.
High-grade supply has been light over the week with just over $6 billion of bonds priced.
Issuers including Royal Bank of Canada, Aqua America, Inc., Cantor Fitzgerald, LP and Penske Truck Leasing Co., LP/PTL Finance Corp. priced notes on Wednesday.
On Tuesday, Rogers Communications Inc., Kimberly-Clark Corp., Marubeni Corp. and Lloyds Bank Corporate Markets plc tapped the primary market.
On Monday, the only offering in the high-grade market was a $450 million preferred stock deal from KeyCorp.
About $15 billion to $25 billion of volume was expected for the week from market sources.
In the secondary market, Walmart Inc.’s 3.25% notes due July 8, 2029 (Aa2/AA/AA) that priced a week ago softened on Wednesday but were among the most actively traded issues, according to a market source and Trace data.
The notes widened 4 basis points to 68 bps bid on Wednesday.
The 10-year notes saw several large trades of more than $5 million in the previous session and went out at 100.85 and were up a dime in early trading to yield 3.139%.
Walmart sold $1.25 billion of the notes on April 16 at 99.882 to yield 3.246%, or a Treasuries plus 67 bps spread.
The discount retailer is based in Bentonville, Ark.
Secondary market volume totaled $19.44 billion on Wednesday, compared to $22.08 billion on Tuesday and $14 billion on Monday, according to Trace data.
© 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.