Apple, Marriott, Caterpillar Financial, John Deere Capital price; Anheuser-Busch tightens

By Cristal Cody

Eureka Springs, Ark., June 7 – Investment-grade supply remained strong over the session with deals brought by issuers including Apple Inc., Marriott International, Inc., John Deere Capital Corp. and Caterpillar Financial Services Corp. on Tuesday.

Apple sold $1.38 billion of 4.15% bonds due June 22, 2046 at par, according to an FWP filing with the Securities and Exchange Commission.

Deutsche Bank AG, Taipei Branch and KGI Securities Co. Ltd. were the managers.

Apple plans to apply to list the notes on the Taipei Exchange.

Marriott International priced $1.5 billion of notes in two tranches: $750 million of 2.3% series Q notes due Jan. 15, 2022 at 99.587 to yield 2.379%, or 115 bps over Treasuries, and $750 million of 3.125% 10-year series R notes at 99.667 to yield 3.164%, or Treasuries plus 145 bps.

John Deere Capital sold $500 million of 2.65% 10-year senior medium-term notes at 99.983 to yield 2.652%.

Caterpillar Financial Services sold a $100 million add-on to its 1.35% three-year medium-term notes at 99.902 to yield 1.384%.

In the secondary market, Anheuser-Busch InBev Finance Inc.’s 3.65% notes due 2026 headed out 6 basis points better on the day.

The Markit CDX North American Investment Grade index improved less than 1 bp to end at a spread of 74 bps.

© 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.