E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/15/2013 in the Prospect News Investment Grade Daily.

Midday Commentary: Market pace muted as spreads weaken; Fidelity National notes trade wider

By Aleesia Forni

Virginia, Beach, Va., April 15 - The investment-grade bond market began the week at a quieter pace, though spreads were slightly wider overall, one trader said at midday.

"Not a ton of activity," the trader said early during the session.

Fidelity National Information Services Inc.'s recent notes were trading slightly wider on Monday.

In other corporate news, Thermo Fisher Scientific is set to acquire Life Technologies Corp. in an approximately $13.6 billion transaction, though the trader had not seen the impact of the deal on the company's existing bonds.

Fidelity National weakens

Fidelity National Information Services' $250 million tranche of 2% five-year notes was quoted 2 basis points wider compared to levels seen Friday at 130 bps bid, 125 bps offered, a trader said.

The notes were priced at a spread of Treasuries plus 135 bps on Wednesday.

The $1 billion tranche of 3.5% 10-year notes, which were sold at 180 bps over Treasuries on Wednesday, traded 3 bps wider at 179 bps bid, 174 bps offered.

Fidelity National Information Services is a Jacksonville, Fla.-based banking and payment technologies company.


© 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.