Midday Commentary: Secondary market sees AutoZone notes slightly wider

By Aleesia Forni

Virginia Beach, Va., April 22 -AutoZone, Inc.'s recently issued notes were quoted 1 basis point wider on Monday compared to Friday's levels, according to a market source.

The trader quoted AutoZone's 3.125% notes due 2023 at 150 bps bid, 145 bps offered early during the session.

The notes priced at a spread of Treasuries plus 150 bps on Thursday.

AutoZone is a Memphis-based automotive parts retailer.

Meanwhile, the Markit CDX North American Investment Grade index was 2 bps tighter at a spread of 82 bps on Monday.

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