Patterson-UTI prices downsized notes; FHLBank prints; Hasbro considers deal

By Cristal Cody

Tupelo, Miss., Nov. 7 – Patterson-UTI Energy, Inc. priced a downsized $350 million of 10-year senior notes on Thursday as the sole reported issuer in the corporate market.

In other supply at the start of the day, the Federal Home Loan Bank System priced $2 billion of two-year Global notes.

In other action over Thursday’s session, toy and game maker Hasbro, Inc. (Baa1/BBB+/BBB-) held fixed income investor calls for a possible bond deal, a source said.

BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the arrangers.

Hasbro plans to acquire Entertainment One Ltd. in a $4 billion all-cash transaction. The company was last in the investment-grade bond market in September 2017.

Also on Thursday, AbbVie Inc. started a two-day round of investor calls for a Rule 144A and Regulation S private offering of senior notes (Baa2/A-/) with proceeds earmarked to fund its acquisition of Allergan plc.

The benchmark deal was launched on Wednesday and is expected to total as much as $30 billion, according to a market source.

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