Voya prices preferreds; Qwest’s $25-par notes continue to rise; Bank of America slips

By James McCandless

San Antonio, Sept. 5 – The preferred market saw another broad decline in the secondary space on Wednesday while in the primary a new issue priced.

Voya Financial, Inc. priced $325 million of $1,000-par 6.125% series A fixed-rate reset non-cumulative preferred stock.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, RBC Capital Markets LLC, BNP Paribas Securities Corp. and PNC Capital Markets LLC are the joint bookrunners.

Qwest Corp., a wholly owned subsidiary of CenturyLink, Inc., saw its $25-par notes improve, continuing an upward trend.

Qwest’s existing 6.75% notes due 2057 (NYSE: CTDD) were up 23 cents to close at $24.83 on volume of about 547,000 notes.

The 6.125% notes due 2053 (NYSE: CTY) were up 53 cents to close at $23.46 on volume of about 375,000 notes.

The 6.5% notes due 2056 (NYSE: CTBB) were up 40 cents to close at $23.94 on volume of about 362,000 notes.

Bank of America Corp.’s 5.875% series HH non-cumulative preferred stock declined slightly.

The preferreds (NYSE: BACPrK) were down 1 cent to close at $25.57 with about 277,000 shares trading.

Energy Transfer Partners, LP’s 7.625% series D fixed-to-floating rate cumulative redeemable perpetual preferred units fell.

The preferreds (NYSE: ETPPrD) were down 9 cents to close at $25.93 on volume of about 251,000 shares.

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