Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hydro-Quebec > News item |
IBM issues bonds; funds see $2.8 billion inflows; spreads tighten on improved tone
By Aleesia Forni and Cristal Cody
Virginia Beach, Oct. 31 – International Business Machines Corp. priced a new offering of senior notes on Friday, capping off a strong week for investment-grade bonds.
The computer company brought to market a $1.1 billion offering of seven-year floating-rate notes during the session.
The trade pushed the week’s supply to more than $22 billion, falling in line with what sources had predicted to be $20 billion to $25 billion of new issuance.
Meanwhile, cash continued to pour into investment-grade bond funds, with Lipper reporting staggering net inflows of $2.78 billion for the week ended Oct. 29.
This figure is up significantly from last week’s $390 million of inflows, bringing the year-to-date total inflows to more than $70 billion.
Looking ahead, players are gearing up for a busy November for the investment-grade primary bond market.
Around $25 billion to $30 billion of supply is expected for the first week of the new month.
“Mostly corporates next week,” a market source said of the upcoming calendar.
In the Canadian primary market, Hydro-Quebec priced C$500 million of 4% series JQ debentures due Feb. 15, 2055 (Aa2/A+/DBRS: A) at 108.041 to yield 3.619% on Friday, according to the company and a market source.
National Bank Financial Inc. was the bookrunner.
© 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.