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SunTrust, National Rural, Oglethorpe, Kimberly-Clark, Japan Bank price; Alberta on deck
By Cristal Cody
Tupelo, Miss., Oct. 24 – High-grade supply revved up on Wednesday in what turned into the busiest deal session week to date.
SunTrust Bank priced $1.4 billion of senior notes in three tranches.
National Rural Utilities Cooperative Finance Corp. sold $625 million of collateral trust bonds in two parts on the tight side of guidance.
Oglethorpe Power Corp. priced an upsized $500 million of 30-year first mortgage bonds following the company’s fixed-income investor calls held earlier in the month.
Kimberly-Clark Corp. also placed $500 million of 10-year senior notes.
In other issuance, Japan Bank for International Cooperation sold $3 billion of guaranteed senior bonds in two tranches.
More than $12 billion of investment-grade bonds, including $6 billion of corporate supply, have priced over the first three sessions.
Syndicate sources anticipated about $15 billion to $20 billion of deal volume this week.
Coming up on Thursday, the Province of Alberta intends to tap the primary market with a dollar-denominated offering of five-year notes.
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