Starbucks, RBS, Eni, Florida Light in primary market; inflows decline; Bristol-Myers eyed

By Cristal Cody

Tupelo, Miss., May 2 – High-grade corporate issuers priced $5.25 billion of notes over Thursday’s session.

Starbucks Corp. sold $2 billion of senior notes in two tranches.

The Royal Bank of Scotland Group plc priced $1.25 billion of 11-year fixed-to-floating-rate senior notes.

Eni SpA brought $1 billion of 10-year senior notes to the primary market.

Florida Power & Light Co. placed $1 billion of three-year floating-rate notes.

In the sovereign, supranational and agency space, Nederlandse Waterschapsbank NV priced $500 million of 18-month floating-rate notes.

Investment-grade volume week to date totals more than $22 billion, compared to the $15 billion to $20 billion of deal volume expected by market sources for the week.

Lipper US Fund Flows on Thursday reported corporate investment-grade fund inflows slowed to $375 million for the week ended May 1 from last week’s second largest inflow on record of $5.86 billion.

In other action, Bristol-Myers Squibb Co. began a two-day round of fixed income investor calls on Thursday for an eight-tranche Rule 144A and Regulation S offering of dollar-denominated notes.

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