Morning Commentary: Bank of New York Mellon, Nucor, KeyCorp market notes; Bacardi holds calls

By Cristal Cody

Tupelo, Miss., April 23 – Investment-grade issuers including Bank of New York Mellon Corp., Nucor Corp. and KeyCorp are marketing new bond deals on Monday.

Bank of New York Mellon (A1/A/AA-) plans to price senior medium-term notes via BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBC Capital Markets, LLC and BNY Mellon Capital Markets LLC.

Nucor (Baa1/A-) in on deck with two tranches of fixed-rate notes following fixed income investor calls held on Friday.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

KeyCorp (Baa1/BBB+/A-) is offering senior medium-term notes. KeyBanc Capital Markets Inc., Goldman Sachs & Co. LLC, JPMorgan and Morgan Stanley & Co. LLC are the bookrunners.

Also on Monday, Bacardi Ltd. (Ba1/BBB-/BBB-) will hold previously reported fixed income investor calls for a dollar-denominated issue.

BofA Merrill Lynch, Barclays and Citigroup Global Markets Inc. are the arrangers for the Rule 144A and Regulation S transaction.

Market sources forecast high-grade issuers will price about $25 billion to $30 billion of bonds over the week.

Bank and financial supply is expected to continue during the week, a source said.

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