Apple prices $5.5 billion; JetBlue, Flex, Kommuninvest in primary; corporate inflows decline

By Cristal Cody

Tupelo, Miss., Aug. 13 – High-grade supply on Thursday included deals from Apple Inc., Flex Ltd., JetBlue Airways Corp. and Kommuninvest I Sverige AB.

Apple priced $5.5 billion of notes (Aa1/AA+/) in four tranches, all tighter than talk.

Flex priced an upsized $575 million two-part reopening of existing senior notes (Baa3/BBB-/BBB-) following a virtual roadshow and fixed income investor calls earlier in the week.

JetBlue Airways sold $115,584,000 of class B pass-through trust certificates (Baa2/BBB/) at par to yield 8%, tighter than initial talk at the 8.5% area.

JetBlue was in the primary market earlier in the month with $635,462,000 of class A pass-through trust certificates (A2/A) and $172.33 million of class B pass-through trust certificates (Baa2/BBB) that priced on Aug. 3 and are expected to settle on Aug. 17.

In other dollar-denominated supply, Manulife Financial Corp. priced $1.16 billion of 30-year Formosa bonds (/A/A-) in a Regulation S offering.

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