Merck, Lloyds, Lazard, Japan Finance price $7.5 billion of bonds; Dell, Cimarex eye market

By Cristal Cody

Tupelo, Miss., March 5 – Merck & Co., Inc. sold $5 billion of high-grade notes in four tranches on Tuesday following Pfizer Inc.’s $5 billion five-part bond deal priced in the previous session.

Also on Tuesday, Lloyds Banking Group plc sold $1 billion of five-year senior notes.

Lazard Group LLC raised $500 million in an offering of 10-year senior notes.

In other issuance, Japan Finance Organization for Municipalities priced $1 billion of five-year senior notes.

Meanwhile, Dell Technologies Inc. held fixed income investor calls on Tuesday for a possible offering of senior notes.

Cimarex Energy Co. also held fixed income investor calls during the session.

Nearly $15 billion of investment-grade bonds priced on Monday.

About $25 billion to $30 billion of issuance is forecast by market sources this week.

The Markit CDX North American Investment Grade 31 index softened about 1 basis point to a spread of 61 bps on Tuesday.

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