Financial issuers price; Bacardi sells $2.6 billion; Kommunalbanken, Sabal plan deals

By Cristal Cody

Tupelo, Miss., April 24 – Several high-grade companies priced new bonds on Tuesday, while other issuers marketed offerings.

Royal Bank of Canada brought $3 billion of three-year senior medium-term fixed- and floating-rate notes in two tranches to the primary market on Tuesday.

Other financial issuance on Tuesday included $2 billion of notes in two tranches from U.S. Bank NA, an $850 million sale of 10-year medium-term senior notes from U.S. Bancorp and an $850 million offering of seven-year senior notes from SunTrust Banks, Inc.

Bacardi Ltd. launched and priced $2.6 billion of guaranteed notes in four tranches during the session.

Also on Tuesday, Harvest Operations Corp. sold $397.5 million of five-year senior notes.

Elsewhere, other high-grade issuers marketed bond deals on Tuesday.

Kommunalbanken plans to price $1 billion of long three-year notes in a “no-grow” deal on Wednesday, according to a market source. The notes were initially talked to price with a spread in the mid-swaps plus 5 basis points area.

Sabal Trail Transmission LLC held fixed-income investor calls during the session in advance of bringing an offering of senior notes (Baa1//BBB+) to the primary market, a source said.

About $25 billion to $30 billion of high-grade supply is forecast for the week, according to market sources.

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