Shell, BB&T, Equifax, Estee Lauder, Paccar flood market; AT&T mixed; Whole Foods eases

By Cristal Cody

Eureka Springs, Ark., May 5 – Investment-grade corporate issuers turned out in force on Thursday to price more than $10 billion of bonds.

Shell International Finance BV sold $7.25 billion of guaranteed senior notes (Aa2/A+) in four parts.

BB&T Corp. brought $1.25 billion of five-year senior medium-term notes over the day.

Equifax Inc. sold $775 million of senior notes in two parts on Thursday.

Estee Lauder Cos. Inc. sold $600 million of senior notes in two tranches, including a tap of long bonds.

Paccar Financial Corp. priced $500 million of three-year medium-term notes.

Markel Corp. brought a $100 million tap of its 5% 30-year senior notes during the session.

Time Warner Inc. also was expected to price a benchmark offering of 10-year senior notes on Thursday.

The Markit CDX North American Investment Grade series 23 index ended the day 2 basis points softer at a spread of 85 bps.

AT&T Inc.’s senior notes (Baa1//A-), which were reopened on Tuesday, were mixed in the secondary market.

Whole Foods Market Inc.’s 5.2% senior notes due 2025 eased 3 bps to 272 bps bid on Thursday. The grocery retailer’s shares closed up 6% after the company reported better-than-expected second-quarter earnings after the closing bell on Wednesday.

Earlier in the day, new bonds brought from Travelers Cos., Inc. and C.R. Bard, Inc. traded 2 bps to 1 bp tighter in the secondary market.

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