Morning Commentary: Prologis, Black & Decker, KeyCorp, Citizens offer high-grade bonds

By Cristal Cody

Tupelo, Miss., Feb. 3 – Several bond issuers moved ahead with plans early Monday to tap the high-grade primary market.

Prologis, LP plans to price a three-part offering of fixed-rate notes as part of its merger with Liberty Property LP scheduled to close later this month.

Stanley Black & Decker, Inc. is offering two tranches that includes fixed-rate notes and fixed-to-fixed reset rate junior subordinated debentures.

KeyCorp intends to tap the primary market with an offering of senior medium-term notes.

Also, Citizens Financial Group, Inc. is marketing new fixed-rate senior notes on Monday.

About $15 billion to $20 billion of new investment-grade issuance is expected this week, according to syndicate sources.

Deal volume for the month is expected to total about $90 billion to $100 billion.

© 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.