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eBay, First Republic Bank price issues; Kommunalbanken plans add-on; AT&T, Verizon ease
By Cristal Cody
Tupelo, Miss., May 30 – eBay Inc. and First Republic Bank tapped the high-grade bond market on Tuesday in an otherwise mostly quiet session following the long holiday weekend.
eBay sold $2.5 billion of senior notes in four tranches. The company dropped a second floating-rate tranche from the deal.
First Republic Bank brought $500 million of five-year senior notes to the market during the session.
Looking ahead to Wednesday, Kommunalbanken AS intends to price a $250 million tap of its senior floating-rate notes due March 17, 2020.
About $20 billion to $25 billion of volume is expected by syndicate sources for the week.
In the secondary market, AT&T Inc.’s 4.25% notes due March 1, 2027 softened 4 basis points.
Verizon Communications Inc.’s 4.125% notes due March 16, 2027 traded 2 bps softer.
The Markit CDX North American Investment Grade index closed steady at a spread of 62 bps.
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