Morning Commentary: Charter, Enbridge, Regency Centers to price; General Motors Financial up

By Cristal Cody

Tupelo, Miss., June 27 – Several investment-grade issuers prepared early Tuesday to tap the primary market during the session.

Charter Communications, Inc. is offering two tranches of senior secured notes (//BBB-) in a deal that includes new notes due 2028 and a tap of its 5.375% senior secured notes due May 1, 2047.

Enbridge Inc. is on deck to price two tranches of senior notes.

General Motors Financial Co., Inc. is marketing five-year fixed- and floating-rate notes, as well as an add-on to its 4.35% senior notes due Jan. 17. 2027.

Regency Centers, LP intends to reopen two tranches of its guaranteed bonds, the 3.6% notes due Feb. 1, 2027 and the 4.4% notes due Feb. 1, 2047.

American Tower Corp. plans to bring new 10-year senior notes to market on Tuesday.

In the secondary market, General Motors Finanical’s 4.35% notes due 2027 traded better at 103.40 from where the notes went out on Monday at 102.74, a market source said.

The Fort Worth-based finance subsidiary of General Motors Co. sold $750 million of the notes on Jan. 11 at 99.855 to yield 4.368%, or Treasuries plus 200 basis points.

On Monday, $14.99 billion of high-grade bonds were traded, according to Trace.

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