Macquarie, Societe Generale, CubeSmart price notes; Japan Bank, IFC, Dexia lead SSA supply

By Cristal Cody

Tupelo, Miss., Oct. 8 – High-grade supply on Tuesday included nearly $3 billion of corporate issuance and more than $9 billion of volume in the sovereign, supranational and agency primary market.

Leading corporate pricing action, Macquarie Bank Ltd. sold $1.25 billion of three-year senior notes.

Societe Generale SA priced $1 billion of five-year notes.

Also, CubeSmart, LP sold $350 million of guaranteed senior notes due Feb. 15, 2030.

In other issuance, British Columbia Ferry Services Inc., operating as BC Ferries, priced C$250 million of 30-year senior secured bonds.

In SSA volume, Japan Bank for International Cooperation led the day’s supply with a $3 billion three-tranche offering of registered guaranteed global notes.

Other issuance included $2 billion of five-year global notes from International Finance Corp. and $1.5 billion of five-year senior notes from Dexia Credit Local SA.

Also, Commonwealth Bank of Australia priced $1.25 billion of three-year covered bonds.

BNG Bank NV brought a $1 billion offering of five-year sustainability bonds to the market.

In addition, Inter-American Development Bank priced a $400 million add-on to its floating-rate notes due Sept. 16, 2022.

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