General Dynamics, Entergy, Huntington, Westpac, Verizon price notes; Eni plans roadshow

By Cristal Cody

Tupelo, Miss., May 8 – General Dynamics Corp. led pricing action in the investment-grade bond market on Tuesday with a $7.5 billion seven-tranche offering of senior notes.

Westpac Banking Corp. also tapped the primary market with a $3 billion four-part deal.

Verizon Communications Inc. came with $1.78 billion of seven-year floating-rate notes.

Huntington National Bank sold $750 million of three-year senior notes.

Also, Huntington Bancshares Inc. priced $500 million of seven-year senior notes.

In addition, Entergy Arkansas Inc. sold $250 million of 10-year first mortgage bonds.

Issuers priced more than $5 billion of high-grade bonds during Monday’s session.

Syndicate sources forecast about $30 billion to $35 billion of supply for the week.

Looking on the horizon, Eni SpA is expected to price senior notes following a roadshow.

Eni (A3/BBB+/A-) plans to hold a roadshow May 14 to May 17 for a dollar-denominated Rule 144A and Regulation S senior note offering, according to a market source. Citigroup Global Markets, Goldman Sachs and J.P. Morgan Securities are the arrangers.

The Markit CDX North American Investment Grade 30 index softened about 1 basis point to end the day at a spread of 63 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.