CRH America, Colonial Pipeline, Realty Income, KfW price new notes; deal pipeline builds

By Cristal Cody

Tupelo, Miss., March 27 – High-grade primary market action on Tuesday include new issues priced from CRH America Finance, Inc., Colonial Pipeline Co., Realty Income Corp. and KfW.

CRH America Finance priced $1.5 billion of senior notes in two parts.

Colonial Pipeline sold $550 million of 30-year senior notes.

Realty Income brought $500 million of seven-year senior notes to the primary market.

Also, KfW placed $4 billion of three-year global notes.

While supply is expected to slow ahead of the long Easter holiday weekend, several issuers are eying potential bond deals.

Coming up on Wednesday, General Mills, Inc. (Baa2/BBB/BBB+) will hold fixed-income investor calls, a source said. BofA Merrill Lynch, Goldman Sachs & Co. LLC, Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are the arrangers.

General Mills announced on Feb. 23 that it will acquire premium pet food manufacturer Blue Buffalo Pet Products Inc. for $8 billion, or $40 per share in cash. General Mills said it expects to finance the acquisition with a combination of debt, cash on hand and about $1 billion of equity.

Also, later in April, both Banco Santander, SA and Caisse de depot et placement du Quebec plan to hold roadshows.

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