ING Groep prices $1.25 billion; volume light; Takeda eyes dollar-denominated deal

By Cristal Cody

Tupelo, Miss., Nov. 8 – ING Groep NV tapped the high-grade primary market Thursday with a $1.25 billion offering of green senior notes in an otherwise mostly quiet session.

Florida Power & Light Co. also priced $99.33 million of 50-year floating-rate notes.

Focus turned toward the conclusion of the Federal Reserve’s monetary policy meeting. The Federal Open Market Committee said it would leave rates unchanged since the labor market has strengthened and economic activity has risen since its September meeting.

Takeda Pharmaceutical Co., Ltd. may tap the dollar-denominated primary market following a European roadshow next week. The company plans to acquire Dublin-based drug maker Shire plc for $62 billion.

Deal volume soared on Wednesday after no major changes erupted from the U.S. mid-term elections.

Volkswagen Group of America Finance LLC (A3/BBB+/) priced $8 billion of notes in seven tranches in a Rule 144A and Regulation S offering on Wednesday.

About $19 billion of high-grade bonds priced in the previous session, led by Volkswagen’s deal.

Just over $2 billion of investment-grade bonds were brought to the primary market Tuesday, while $1.5 billion of bonds priced Monday. About $15 billion to as much as $30 billion of issuance of supply is forecast by market sources for the week.

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