Texas Instruments, Manitoba price; Home Capital volatility wanes; AT&T, Verizon firm

By Cristal Cody

Tupelo, Miss., April 27 – Several issuers tapped the investment-grade bond market on Thursday.

The Province of Manitoba brought $1 billion of five-year dollar-denominated global debentures to the primary market on Thursday.

Also in the primary, Texas Instruments Inc. priced a $600 million two-part offering of senior notes.

E.I. DuPont de Nemours & Co. and PepsiCo, Inc. also marketed notes. Final pricing details were not available at press time.

In addition to the dollar offering, PepsiCo announced it was considering a sale of senior notes denominated in Canadian dollars, according to a 424B2 filed with the Securities and Exchange Commission.

The issuer stayed out of the Canadian primary market on Thursday, a source said.

Friday is “still a good day if the market holds, so there’s no reason we couldn’t get a deal tomorrow,” the source said. “There’s nothing today. We had all the activity and secondary volatility around the Home Capital bond, but that seems to be resolved.”

Home Capital Group Inc. announced on Thursday that its subsidiary, Home Trust, has secured a firm commitment for a C$2 billion credit line from what it described as a major Canadian institutional investor.

The Markit CDX North American Investment Grade index closed on Thursday less than 1 basis point softer at a spread of 64 bps.

In the secondary market, AT&T Inc.’s 4.25% notes due March 1, 2027 firmed about 1 bp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.