Royal Bank of Scotland, Sandy Spring price; high-grade supply surges

By Cristal Cody

Tupelo, Miss., Oct. 29 – The investment-grade primary market saw a number of issuers offering bonds on Tuesday.

Royal Bank of Scotland Group plc priced $750 million of 10-year split-rated fixed-to-fixed-rate reset subordinated notes during the session.

Sandy Spring Bancorp sold $175 million of 10-year fixed-to-floating rate subordinated notes.

Also on Tuesday, DH Europe Finance II Sarl offered five tranches of senior notes.

State Street Corp. marketed fixed-to-floating rate senior notes due 2025 and fixed-to-floating rate senior subordinated notes due 2034.

DTE Energy Co. was on deck with two tranches of fixed-rate senior notes due 2022 and 2030.

PNC Financial Services Group, Inc. offered senior notes due 2024.

Ford Motor Credit Co. LLC marketed new fixed-rate notes.

In addition, JetBlue Airways Corp. offered $772,255,000 of pass-through certificates.

The busy deal pace follows a number of issuers that included Citigroup Inc. and Hershey Co. in the high-grade primary market on Monday.

About $15 billion to $20 billion of investment-grade supply is being eyed to hit the primary market this week, sources report.

© 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.