Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Enbridge Inc. > News item |
Enbridge, General Mills price bonds; market action light; Banco Santander plans roadshow
By Cristal Cody
Tupelo, Miss., Oct. 4 – Deal action in the high-grade bond market on Wednesday included offerings from Enbridge Inc. and General Mills, Inc.
Enbridge (Baa2/BBB+/BBB+) priced $700 million of senior floating-rate notes due Jan. 10, 2020 on Wednesday with a coupon of Libor plus 40 bps, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.888 for a discount margin of Libor plus 45 bps.
General Mills sold $500 million of 2.6% five-year senior notes (A3/BBB+/) on Wednesday at a spread of 68 bps over Treasuries, according to an FWP filed with the SEC.
The notes priced at 99.986 to yield 2.603%.
Also, Braskem Netherlands Finance BV was expected to price guaranteed senior notes in two tranches late in the afternoon, a source said. Final pricing details were not available by press time.
Deal volume was expected by market participants to be lighter in the first week of October with about $20 billion of total supply forecast.
Looking ahead to new issuance, Banco Santander, SA plans to hold a roadshow in the upcoming week for a dollar-denominated offering of senior notes.
The Markit CDX North American Investment Grade 29 index was less than half a basis point softer on Wednesday at a spread of 54 bps.
© 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.