General Motors issues $750 million floater; Societe Generale sells $1.5 billion of 10-year notes

By Devika Patel

Knoxville, Tenn., Nov. 13 – Primary activity in the investment-grade bond market perked up a bit on Friday, with two deals pricing, after a slow Thursday but a busy week overall.

About $25 billion to $30 billion of high-grade supply was expected by syndicate sources this week. In total, the primary investment-grade supply was actually just over $32 billion, exceeding expectations.

Fort Worth-based General Motors Financial Co., Inc. (Baa3/BBB/BBB) priced $750 million of three-year floating-rate senior notes on Friday at a 120 basis points spread to SOFR via bookrunner Goldman Sachs & Co. LLC.

Proceeds will be used for general corporate purposes.

Also on Friday, Paris-based bank Societe Generale priced $1.5 billion of 5.375% 10-year notes at par.

© 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.