High-grade issuers flood primary; Gilead, Equinix, AerCap price; Ontario Teachers in pipeline

By Cristal Cody

Tupelo, Miss., Sept. 23 – Investment-grade issuers priced more than $18 billion of corporate bonds in the primary market over Wednesday’s session.

Gilead Sciences Inc. led pricing action with $6.75 billion of senior notes (A3/A) sold in six tranches.

In other issuance, Centene Corp. priced $2.2 billion of 10-year split-rated senior notes (Ba1/BBB-/BB+).

Equinix, Inc. placed $1.85 billion of senior notes (Baa3/BBB-/BBB-) in three tranches.

AerCap Ireland Capital DAC and AerCap Global Aviation Trust priced $1.5 billion of guaranteed senior notes (Baa3/BBB-/BBB-) in two tranches.

Meanwhile, Ontario Teachers’ Finance Trust (Aa1/AA+) marketed a Rule 144A and Regulation S two-part dollar-denominated offering of senior notes that are expected to price on Thursday.

The offering includes three-year notes with initial price talk in the mid-swaps plus 28 bps area and 10-year notes talked at the mid-swaps plus 65 bps area.

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