Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Electricité de France SA > News item |
Stronger tone sees GM Financial, Kimco price; financial paper mixed; credit spreads firm
By Aleesia Forni and Cristal Cody
Virginia Beach, Oct. 7 – Electricite de France SA, General Motors Financial Co., Inc., Jackson National Life Global Funding, Kimco Realty Corp. and Banque Federative du Credit Mutuel gave life to this week’s sleepy primary, taking full advantage of a more constructive market tone and a positive shift in sentiment following a slow start to the week.
A $4.75 billion five-tranche issue from Electricite de France led the session, with one source noting that the deal’s order book was more than two times oversubscribed.
In its split-rated new issue, GM Financial offered a two-tranche long three-year issue of notes around 20 basis points tighter than initial price thoughts.
Meantime, new deals priced from Export Development Canada and Inter-American Development Bank.
Despite a more stable environment on Wednesday, sources expect the remainder of the week to see light primary activity, with continued earnings, a volatile market backdrop and fragile conditions keeping issuers away.
Bank and financial paper was mixed over the trading session, while credit spreads tightened 3 bps.
Bank of America Corp.’s 3.875% senior notes due 2025 traded 5 bps better.
Barclays plc’s notes firmed 6 bps in the secondary market.
Citigroup Inc.’s 3.3% senior notes due 2025 traded 2 bps tighter.
JPMorgan Chase & Co.’s 3.9% senior holding company notes due 2025 firmed about 1 bp.
© 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.