Morgan Stanley, U.S. Bank, PNC, BlackRock, Rockies Express price; inflows remain strong

By Cristal Cody

Tupelo, Miss., Jan. 16 – Investment-grade issuers priced more than $20 billion of bonds over Thursday’s session, led by financial supply.

Morgan Stanley tapped the primary market with a $6 billion two-part offering of global medium-term senior notes.

U.S. Bank NA sold $3.25 billion of senior notes in three tranches.

Societe Generale SA brought $3 billion of senior medium-term notes in two tranches.

PNC Financial Services Group, Inc. priced $2 billion of 10-year senior notes.

In other issuance, CenturyLink, Inc. priced a $1.25 billion split-rated offering of seven-year notes.

BlackRock Inc. came with $1 billion of long 10-year senior notes.

Rockies Express Pipeline LLC sold $750 million of senior notes in two parts.

Ohio National Financial Services, Inc. priced an upsized $425 million of 10-year senior notes.

In addition, the Province of Ontario sold $3 billion of three-year global notes.

Week to date, investment-grade issuers have priced more than $43 billion of bonds.

About $30 billion to $35 billion of issuance was forecast for the week.

Corporate investment-grade fund inflows remained strong over the past week ended Wednesday at $6.62 billion, down slightly from the record $8.19 billion of inflows in the prior week, according to Lipper US Fund Flows.

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