SMBC Aviation, DPL, Suncorp-Metway, Protective Life sell notes; Manitoba eyes dollar issue

By Cristal Cody

Tupelo, Miss., April 8 – Investment-grade supply on Monday included deals from SMBC Aviation Capital Ltd. and DPL Inc. following fixed income investor calls last week.

SMBC Aviation Capital subsidiary SMBC Aviation Capital Finance DAC priced $500 million of five-year senior notes.

DPL sold $400 million of 10-year notes.

Also on Monday, Suncorp-Metway Ltd. priced $500 million of five-year senior notes.

Protective Life Corp. brought $400 million of five-year senior notes to the primary market.

In other high-grade issuance during the session, TransCanada Pipelines Ltd. sold C$1 billion of long 30-year senior notes.

Coming up on Tuesday, the Province of Manitoba plans to price a dollar-denominated offering of five-year bonds.

Saudi Arabian Oil Co., which ended a weeklong roadshow on Friday, is expected to come to the market on Tuesday with a six-tranche offering of bonds that is being eyed by investment-grade desks, sources said.

About $15 billion to $20 billion of high-grade supply, not including Saudi Arabian Oil’s deal, is predicted for the week, according to market sources.

© 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.