| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Microsoft Corp. > News item |
Apple markets nine tranches of notes; Johnson Controls prices; Apple existing bonds mixed
By Cristal Cody
Tupelo, Miss., Feb. 2 – Apple Inc. was in the high-grade deal pipeline with a nine-tranche offering of notes on Thursday.
Apple’s offering includes three tranches of floating-rate notes and six tranches of fixed-rate notes.
Also on Thursday, Johnson Controls International plc priced a $500 million 30-year senior note offering. The notes due Feb. 15, 2047 priced at 99.088 to yield 4.556%.
The week has seen the largest high-grade bond deal priced year to date. Microsoft Corp. sold $17 billion of notes in seven tranches on Monday. Also, on Tuesday, AT&T Inc. priced a $10 billion six-tranche global notes offering.
The Markit CDX North American Investment Grade index closed mostly flat at a spread of 66 basis points.
Apple’s existing bonds were mixed with the long end seen about 1 bp to 2 bps tighter in the secondary market on Thursday.
Apple’s 2.45% notes due 2026 traded 5 bps weaker on Thursday at 86 bps bid, according to a market source. Apple sold $2.25 billion of the notes (Aa1/AA+/) on July 28 at a spread of 98 bps over Treasuries.
The tranche of 3.85% notes due 2046 firmed 1 bp to 122 bps bid. The bonds were priced in a $2 billion tranche in the July 28 offering at Treasuries plus 163 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.