Tyson Foods, Comcast sell notes; Tyson tightens; Dollar General, Family Dollar active

By Aleesia Forni and Cristal Cody

Virginia Beach, Aug. 5 – Tyson Foods Inc. and Comcast Corp. came to Tuesday’s primary, each bringing multi-billion-dollar deals to market.

Tyson Foods sold a four-part, $3.25 billion offering of senior notes to fund the company’s proposed acquisition of Hillshire Brands Co.

Meanwhile, Comcast came to market with a $2 billion offering of senior notes sold in two maturities.

In forward calendar news, Federal Home Loan Banks announced plans to price a $3 billion offering of global bonds on Wednesday.

One source noted the tone to the quiet Tuesday was “maybe a little weaker” compared to Monday’s session.

In total, the investment-grade primary market has seen roughly $6.6 billion of supply this week.

The slower pace of issuance is expected to continue as the week progresses.

Tyson’s four-part offering of notes tightened 6 basis points to 10 bps in aftermarket trading, according to a trader.

The two tranches that Comcast brought during the session traded 1 bp to 2 bps softer on the bid side, a trader said.

Bonds from Dollar General Corp. and Family Dollar Stores, Inc. were active over the session, a trader said.

The trades follow reports that Dollar General is considering a bid for the rival discount retailer, a week after Dollar Tree Inc. announced it would acquire Family Dollar for $8.5 billion in cash and stock.

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