Shell, Credit Suisse, Xcel, Caterpillar, Nordstrom bring high-grade supply

By Cristal Cody

Tupelo, Miss., Nov. 4 – Investment-grade issuers brought about $10 billion of new bonds and securities to the primary market on Monday, led by a $4 billion three-part deal from Shell International Finance BV.

Shell International Finance priced the guaranteed senior notes on the tight side of guidance.

Credit Suisse AG, New York Branch brought $2 billion of three-year senior notes.

Xcel Energy Inc. sold $1 billion of senior notes in two tranches.

Baker Hughes, a GE co., LLC and co-issuer Baker Hughes Co-Obligor, Inc. priced $525 million of 10-year senior notes.

Caterpillar Inc. sold $500 million of five-year medium-term notes during the session.

National Oilwell Varco, Inc. tapped the primary market with a $500 million offering of 10-year senior notes.

Also during the session, Nordstrom, Inc. sold $500 million of long 10-year senior notes.

In addition, Commonwealth Edison Co. came with $300 million of 30-year first mortgage bonds.

Investment-grade supply is expected to be strong this week with syndicate sources forecasting about $25 billion to $30 billion of volume.

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