Expedia, Aviation Capital, KfW price; Kimco sells green bond; Japan Bank markets notes

By Cristal Cody

Tupelo, Miss., July 7 – High-grade supply on Tuesday include new corporate and sovereign, supranational and agency issuance.

Expedia Inc. priced a $1.25 billion a Rule 144A and Regulation S two-part offering of senior notes (Baa3/BBB-/) better than initial talk.

Expedia was last in the primary market on April 23 with a $2.75 billion two-part offering of senior notes.

Aviation Capital Group LLC (Baa2/BBB-/BBB-) also brought a Rule 144A and Regulation S transaction to the primary market on Tuesday. The company sold $1 billion of senior notes due Dec. 15, 2024 better than guidance.

In registered pricing action, Kimco Realty Corp. sold $500 million of long 10-year notes (Baa1/BBB+/) on Tuesday 45 basis points tighter than initial talk.

Also, KfW (Aaa/AAA/AAA) priced $5 billion of five-year global notes better than guidance.

Meanwhile, Japan Bank for International Cooperation is marketing a registered offering of five-year guaranteed bonds (A1/A+/) that are expected to price on Wednesday. Price talk is at the mid-swaps plus 36 bps area.

Japan Bank was previously in the primary market on May 13 with a $2 billion sale of three-year guaranteed bonds.

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