High-grade issuance heavy; Qualcomm, Capital One, Magellan, Loews, SEK price

By Cristal Cody

Tupelo, Miss., May 6 – Investment-grade issuers flooded the primary market with new bonds on Wednesday.

Qualcomm Inc. priced $2 billion of senior notes in two tranches.

Capital One Financial Corp. brought $2 billion of senior notes in two parts to the primary market.

Transcontinental Gas Pipe Line Co., LLC priced a $1.2 billion two-tranche offering of senior notes.

Magellan Midstream Partners, LP sold $500 million of 10-year senior notes.

Loews Corp. came with $500 million of 10-year senior notes.

Realty Income Corp. sold $600 million of senior notes due Jan. 15, 2031.

Public Service Electric and Gas Co. was in the market with $375 million of 30-year secured medium-term notes.

Also, Swedish Export Credit Corp. priced $1.25 billion of five-year senior notes, while Tennessee Valley Authority offered $1 billion of five-year global power bonds on Wednesday.

In addition, issuance was expected from companies including Volkswagen Group of America Finance LLC, GE Capital Funding, LLC, American International Group, Inc., JPMorgan Chase & Co., Office Properties Income Trust and Consumers Energy Co.

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