3M, Southwestern Electric, Bell Canada, KfW price notes; high-grade pipeline grows

By Cristal Cody

Tupelo, Miss., Sept. 11 – New high-grade issuance on Tuesday included a $2.25 billion five-part offering of notes from 3M Co.

Southwestern Electric Power Co. also sold $575 million of 10-year senior notes.

Bell Canada priced a $400 million tap of its 4.464% notes due April 1, 2048 2 basis points wider than where the issue came in March.

In other supply, KfW priced a $1.5 billion add-on to its 2.75% global notes due Oct. 1, 2020.

The Inter-American Development Bank (Aaa/AAA/) also was offering dollar-denominated global notes due Sept. 18, 2028 on Tuesday that were initially talked to price in the mid-swaps plus 13 bps area.

Meanwhile, several high-grade issuers are planning new bond deals.

Unibail-Rodamco-Westfield SE was marketing a benchmark-sized dollar-denominated Rule 144A and Regulation S offering of senior notes with fixed-income investor meetings on Monday and investor calls on Tuesday.

Enel Finance International NV also intends to price a dollar-denominated Rule 144A- and Regulation S-eligible offering of senior notes following investor calls held Monday.

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