Pre-holiday supply thin; Air Lease sells registered notes; Dominion Gas firms; Intel flat

By Cristal Cody

Tupelo, Miss., Nov. 26 – The investment-grade bond market is beginning to slow ahead of the Thanksgiving Day holiday with light volume seen over Tuesday’s session.

Air Lease Corp. priced a C$400 million registered offering of five-year medium-term notes.

The company was last in the dollar-denominated primary market on Sept. 9 when it sold $1.1 billion of medium-term notes in two tranches.

In other new issuance seen on Tuesday, emerging markets issuer PTTEP Treasury Center Co. Ltd. priced $650 million of high-grade-rated 40-year medium-term notes.

Credit spreads have improved about 2.5 basis points over the past two sessions.

On Tuesday, the Markit CDX North American Investment Grade 33 index closed about 1 bp tighter at a spread of 49 bps.

In the secondary market, Dominion Energy Gas Holdings, LLC’s new 3% senior notes due Nov. 15, 2029 tightened 3 bps on Tuesday.

Intel Corp.’s 2.45% senior notes due Nov. 15, 2029 priced in the previous week were flat.

© 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.