General Motors, Digital Realty, Huntington Bank, Southwestern Public price; GM notes stable

By Cristal Cody

Tupelo, Miss., Aug. 2 – The session on Wednesday saw more than $6 billion of corporate and SSA investment-grade bond issuance.

General Motors Co. priced a $3 billion four-tranche offering of senior notes.

Digital Realty Trust LP sold $1.35 billion of guaranteed notes in two tranches.

Huntington National Bank placed $700 million of five-year senior notes on the tightest side of guidance. The company dropped a planned five-year floating-rate tranche.

Southwestern Public Service Co. priced $450 million of 30-year first mortgage bonds.

Also, Ashtead Capital Inc. priced a $1.2 billion split-rated two-part note offering.

In other deal activity, Nordic Investment Bank (Aaa/AAA) sold $500 million of 1.5% two-year global notes at a spread of Treasuries plus 18.5 basis points on Wednesday.

In the secondary market, General Motors’ existing notes (Ba1/BBB-/BBB-) were flat after weakening in the previous session, a market source said.

The company’s 6.75% notes due April 1, 2046 headed out stable at 261 bps bid after widening about 12 bps in secondary trading on Tuesday.

The notes priced in a $750 million tranche on Feb. 18, 2016 at a spread of Treasuries plus 415 bps.

The Markit CDX North American Investment Grade index was modestly tighter on the day at a spread of 56 bps.

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