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Constellation prices $2.15 billion notes; KeyCorp sells $500 million; supply light
By Cristal Cody
Tupelo, Miss., Oct. 22 – Constellation Brands, Inc. led high-grade primary action on Monday with a $2.15 billion four-part offering of senior notes that priced on the tight side of guidance.
KeyCorp also sold $500 million of seven-year senior medium-term notes.
Otherwise, investment-grade market activity was light to start the week.
About $15 to $20 billion of deal volume is expected by market sources for the week.
The Markit CDX North American Investment Grade 31 index was flat over the day at a spread of of 67 basis points.
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