Midday Commentary: Air Products and Chemical notes widen in trading; overall market weaker

By Aleesia Forni

Columbus, Ohio, Jan. 31 - Spreads in the secondary investment-grade bond market were leaking wider during the early part of Thursday's trading session, according to a market source.

"Feels a little weaker this morning," the source commented.

However, Air Products and Chemicals Inc.'s $400 million offering of 2.75% 10-year senior notes was quoted 6 basis points better.

A trader saw the notes at 72 bps bid, 67 bps offered at midday.

The Allentown, Pa.-based industrial gas and chemicals maker priced the notes to yield Treasuries plus 78 bps on Wednesday.

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