Morning Commentary: Heavy high-grade supply on deck; Westar, Duke, CenterPoint on tap

By Cristal Cody

Tupelo, Miss., Aug. 12 – Investment-grade issuers flooded the market early Monday with new deal announcements.

Syndicate sources expect strong supply this week to total in the $25 billion to $30 billion or higher area.

In new deals being marketed on Monday, Oneok Inc. expects to price three tranches of guaranteed senior notes.

Westar Energy, Inc. plans to price new 30-year first mortgage bonds.

Duke Energy Carolinas LLC intends to price two tranches of first and refunding mortgage bonds.

Arizona Public Service Co. plans to price new fixed-rate notes.

CenterPoint Energy, Inc. intends to sell three tranches of senior notes due 2024, 2030 and 2049.

In other deals being marketed, Lincoln National Corp. intends to price new fixed-rate senior notes.

Ventas Realty LP plans to sell new fixed-rate senior notes.

Also, Sherwin-Williams Co. plans to price a two-tranche offering of fixed-rate senior notes.

High-grade issuers priced more than $36 billion of bonds last week, beating market forecasts of about $25 billion to $30 billion of volume.

© 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.