High-grade primary packed; Chevron, Visa, S&P, Ecolab, Motorola, Air Lease, Essex price

By Cristal Cody

Tupelo, Miss., Aug. 10 – Nearly a dozen investment-grade issuers kept the primary market busy on Monday with more than $13 billion of bonds priced over the session.

Chevron U.S.A. Inc. tapped the primary market with $4 billion of senior notes (Aa2/AA/) in seven tranches.

Visa Inc. sold $3.25 billion of senior notes (Aa3/AA-/) in three tranches.

S&P Global Inc. priced $1.3 billion of guaranteed senior notes (A3//A-) in two tranches.

Ecolab Inc. brought $1.1 billion of senior notes (Baa1/A-/A-) in two parts to the market.

Motorola Solutions, Inc. came by with $900 million of long 10-year senior notes (Baa3/BBB-/BBB-) on Monday.

Air Lease Corp. priced $700 million of medium-term notes due Jan. 15, 2026 (/BBB/BBB/Kroll: A-) during the session.

Essex Portfolio, LP sold $600 million of guaranteed senior notes (Baa1/BBB+/BBB+) in two tranches.

Bunge Ltd. Finance Corp. priced $600 million of five-year guaranteed senior notes (Baa3/BBB/BBB-) in an offering upsized from $500 million.

Concho Resources Inc. placed $500 million of senior notes due Feb. 15, 2031 (Baa3/BBB-/BBB-) in a deal upsized from $400 million.

Also, Great-West Lifeco Inc. (A+/A) sold $500 million of five-year senior senior notes (A+/A/) in a Rule 144A and Regulation S offering.

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