BB&T, Oneok, Dominion Energy, RELX tap primary market; KommuneKredit offers notes

By Cristal Cody

Tupelo, Miss., March 11 – High-grade issuers priced nearly $5 billion of bonds on Monday as issuance slows this week following heavy supply last week.

BB&T Corp. sold $2 billion of senior and subordinated in two tranches.

Oneok Inc. brought $1.25 billion of guaranteed senior notes in new and reopened tranches to the primary market.

Dominion Energy, Inc. sold $600 million of reopened and new issue senior notes.

RELX Capital Inc. priced $950 million of 10-year guaranteed notes.

In other primary action, Canadian Pacific Railway Co. sold C$400 million of 3.15% 10-year guaranteed senior notes (Baa1/BBB+/DBRS: BBB) on Monday in its first Canadian dollar-denominated debt offering since 2011.

The reverse Yankee market also remains active with PepsiCo, Inc. launching euro-denominated senior notes on Monday.

Looking ahead to Tuesday, KommuneKredit intends to price a dollar-denominated offering of three-year fixed-rate notes.

Meanwhile, a deal is being eyed from Southern California Edison Co. (A3/A-/A) after the company held fixed income investor calls on Friday, a source said.

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