Charter, Hewlett-Packard, Archer-Daniels, General Dynamics price; deal pipeline grows

By Cristal Cody

Tupelo, Miss., Sept. 11 – High-grade bond issuance was heavy over Monday’s session.

Credit Suisse Group AG sold $1.5 billion of notes in two parts.

Charter Communications, Inc. subsidiaries Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. priced $2 billion of senior secured notes in two tranches.

Hewlett Packard Enterprise Co. sold $1.1 billion of two-year fixed-rate notes and dropped a floating-rate tranche.

General Dynamics Corp. tapped the primary market with a $1 billion two-part offering of senior notes. Virginia Electric and Power Co. brought $750 million of new and reopened senior notes.

Brookfield Finance Inc. upsized its deal and sold $550 million of 30-year guaranteed senior notes.

Also on Monday, Archer-Daniels-Midland Co. placed $500 million of 30-year senior notes.

Mitsubishi UFJ Lease & Finance Co. Ltd. priced $500 million of five-year senior notes.

PECO Energy Co. sold $325 million of 30-year first and refunding mortgage bonds.

Textron Inc. came with $300 million of long 10-year senior notes.

Issuance is expected to remain strong on Tuesday with several deals in the pipeline, including

Ontario Teachers’ Finance Trust intends to price a dollar-denominated benchmark-sized offering of notes.

Dexia Credit Local SA plans to price a dollar-denominated Rule 144A and Regulation S offering of senior notes due Sept. 20, 2022.

The Republic of Finland is marketing $1 billion of notes due Sept. 21, 2020.

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