| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Erste Abwicklungsanstalt > News item |
Cisco Systems, British American Tobacco price; Bank of America firms; AT&T eases
By Aleesia Forni and Cristal Cody
Virginia Beach, June 10 – Cisco Systems, Inc. and B.A.T. International Finance plc were each in the market with five-part new issues on Wednesday during a stronger session for investment-grade bonds.
Tranches of Cisco Systems’ $5 billion new issue sold between 10 basis points to 20 bps tight of initial price thoughts.
British American Tobacco sold all five parts of its new $4.5 billion offering of notes at the tight end of guidance.
Wednesday’s session also hosted a new issue from Germany’s Erste Abwicklungsanstalt.
The agency priced a $500 million offering of two-year notes at the tight end of price talk.
The slower primary pace on Wednesday follows a busy start to the week and brings its total supply to more than $32.2 billion, already surpassing what was predicted to be a $25 billion to $30 billion week.
Bank and financial paper was mixed in secondary trading.
Bank of America Corp.’s 4% notes due 2025 firmed 5 bps over the session.
Citigroup Inc.’s 3.3% senior notes due 2025 widened 5 bps.
AT&T Inc.’s 3.4% notes due 2025 eased 3 bps in afternoon trading.
Verizon Communications Inc.’s bonds, which have widened since the company announced in May it will acquire AOL Inc. for $4.4 billion, were unchanged.
Credit spreads improved over the session after steadily leaking wider since late in the previous week.
© 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.