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Prudential, Martin Marietta, Entergy Texas price; funds post outflows
By Cristal Cody
Tupelo, Miss., March 5 – Investment-grade supply continued on Thursday as stocks faltered, Treasuries rallied and credit spreads widened.
Prudential Financial, Inc. sold $1.5 billion of medium-term notes in three tranches.
Martin Marietta Materials Inc. brought $500 million of 10-year senior notes to the primary market.
Entergy Texas Inc. priced a $175 million add-on to its 3.55% first mortgage bonds due Sept. 30, 2049 during the session.
Oneok Inc. also offered three tranches of guaranteed senior notes on Thursday.
In addition, in the sovereign, supranational and agency market, Kommunalbanken AS offered dollar-denominated five-year global notes.
The notes due March 12, 2025 were initially talked to price at the mid-swaps plus 17 basis points area.
Amidst market volatility, corporate high-grade funds saw outflows over the past week ended Wednesday, according to Lipper US Fund Flows.
Funds posted outflows of $4.79 billion, compared with inflows of $3.65 billion in the previous week and $5.14 billion in the prior week.
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