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Nissan Motor, DNB Bank, Blackstone, Hudson Pacific tap primary market; NetApp holds calls
By Cristal Cody
Tupelo, Miss., Sept. 25 – Several issuers tapped the high-grade primary market on Monday.
Nissan Motor Acceptance Corp. priced a $2 billion four-tranche offering of senior notes.
Nissan Motor sold $300 million of three-year floating-rate notes at Libor plus 39 bps; $550 million of 2.15% three-year fixed-rate notes at a spread of Treasuries plus 62 bps; $450 million tranche of five-year floating-rate notes at Libor plus 69 bps; and $700 million of 2.6% five-year fixed-rate notes at a spread of 77 bps over Treasuries.
DNB Bank ASA priced $1.75 billion of three-year fixed- and floating-rate notes.
Blackstone Holdings Finance Co. LLC priced a $600 million two-part offering of guaranteed senior notes. The company sold $300 million of 3.15% 10-year notes at a spread of Treasuries plus 98 bps and $300 million of 4% 30-year notes at a Treasuries plus 138 bps spread.
Hudson Pacific Properties, LP sold $400 million of 10-year senior notes.
In other action, NetApp Inc. (Baa2/BBB+/) held investor calls on Monday for a possible deal, a market source said. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are arranging the calls.
The Markit CDX North American Investment Grade 29 index closed mostly unchanged at a spread of 60 basis points.
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