Morgan Stanley, JPMorgan, Novartis, Boeing tap primary market; Goldman paper mixed

By Cristal Cody

Tupelo, Miss., Feb. 14 – Issuance stayed strong over Tuesday’s session with bank and financial supply making up the bulk of volume in the high-grade bond market.

Morgan Stanley sold $3 billion of three-year floating-rate senior notes.

JPMorgan Chase & Co. came with $2 billion of 31-year fixed- to floating-rate notes.

Japan Bank for International Cooperation brought $2 billion of three-year fixed- and floating-rate guaranteed bonds in two parts.

PNC Bank NA sold $1 billion of five-year notes.

Also on Tuesday, Novartis Capital Corp. placed a $3 billion three-part offering of notes.

Boeing Co. priced a $900 million three-tranche offering of senior notes.

The Markit CDX North American Investment Grade index ended mostly unchanged at a spread of 63 basis points.

In the secondary market, Goldman Sachs Group Inc.’s notes (A3/A/) reopened on Monday were mixed.

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