SEB, PNC Bank, Broadridge tap primary market; Swedish Export plans deal; Charter improves

By Cristal Cody

Tupelo, Miss., Dec. 4 – Deal volume included nearly $4 billion of investment-grade bonds brought to the primary market on Wednesday.

Skandinaviska Enskilda Banken AB sold $1.75 billion of senior notes in two tranches.

PNC Bank, NA priced $1.4 billion of subordinated notes in two parts.

Broadridge Financial Solutions, Inc. priced a $750 million registered offering of 10-year senior notes following fixed income investor calls held in the previous session.

Meanwhile, Fannie Mae announced it would forgo issuing a Benchmark note on Wednesday, its last scheduled funding opportunity of 2019.

Coming up on Thursday, Swedish Export Credit Corp. plans to price a dollar-denominated offering of four-year global notes.

High-grade issuers have priced about $10 billion of bonds week to date, nearing the $15 billion to $20 billion of volume expected by market sources.

The Markit CDX North American Investment Grade 33 index firmed more than 1 basis point on Wednesday to end at a spread of 50 bps.

In the secondary market, Charter Communications, Inc.’s 4.8% senior secured notes due March 1, 2050 traded about 4 bps better than where the notes were reopened on Monday in a $1.3 billion add-on.

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