Disney, American Honda Finance, Sunoco among issuers; CBS, National Australia Bank firm

By Cristal Cody

Eureka Springs, Ark., July 7 – Primary action stayed strong over Thursday’s session with more than $10 billion of bonds priced in the investment-grade market.

The Walt Disney Co. sold $2 billion of notes (A2/A/A) in three parts. Disney saw tight pricing for its 10-year and 30-year tranches, a market source noted.

American Honda Finance Corp. priced $1.75 billion of series A medium-term notes (A1/A+) in two tranches during the session.

Sunoco Logistics Partners Operations LP brought an upsized $550 million of 3.9% 10-year senior notes.

Healthcare Trust of America Holdings, LP sold $350 million of 10-year senior notes.

In addition, Federal Realty Investment Trust priced $250 million of 3.625% 30-year notes.

Issuers including Raymond James Financial Inc. and Sumitomo Corp. also were expected in the primary market ahead of Friday’s June jobs report.

Canadian Imperial Bank of Commerce also brought a deposit note offering. Final details were not available by press time.

The Markit CDX North American Investment Grade index ended the day mostly unchanged at a spread of 77 bps.

CBS Corp.’s $700 million offering of 2.9% senior notes due 2027 (Baa2/BBB) that priced on Wednesday traded 5 bps tighter in the secondary market earlier in the session.

National Australia Bank Ltd.’s new 1.875% notes due 2021 traded 5 bps better than issuance.

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