NextEra, Vodafone, Barclays, RenaissanceRe price notes; high-grade inflows decline

By Cristal Cody

Tupelo, Miss., March 28 – Investment-grade issuers priced nearly $6 billion of bonds over Thursday’s session.

NextEra Energy Capital Holdings Inc. sold $2.7 billion of debentures in four tranches.

Vodafone Group plc brought $2 billion of 60-year capital securities.

Barclays plc priced a $750 million add-on to its fixed-to-floating-rate senior notes due Feb. 15, 2023.

RenaissanceRe Holdings Ltd. also priced $400 million of 10-year senior notes following fixed income investor calls on Tuesday and Wednesday.

More than $18 billion of bonds, including a $5 billion eight-part offering of senior notes on Tuesday from Mars Inc., have priced week to date.

Meanwhile, a debt offering may be on the horizon from ZF Friedrichshafen AG (Baa3/BBB/) after the company announced on Thursday that it will acquire Wabco Holdings Inc. in a deal valued at about $7 billion. The transaction is expected to close at the start of 2020.

Lipper US Fund Flows reported on Thursday that for the week ended March 27, corporate investment-grade fund inflows came to $2.75 billion, down from $5.14 billion the previous week.

The Markit CDX North American Investment Grade 32 index headed out more than 1 basis point tighter on the day at a spread of 67 bps.

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