High-grade action thins; Europe Development Bank, Swedish Export price; new bonds mixed

By Cristal Cody

Eureka Springs, Ark., Sept. 27 – Several European and U.S. high-grade issuers stayed to the sidelines on Tuesday, while the Council of Europe Development Bank and the Swedish Export Credit Corp. tapped the U.S. primary market, sources report.

The Council of Europe Development Bank sold a $500 million dollar-denominated offering of long two-year senior global notes.

Swedish Export Credit priced $500 million of two-year notes.

The Markit CDX North American Investment Grade index firmed about 2 basis points over the day to end at a spread of 77 bps.

Southwest Gas Corp.’s $300 million offering of 3.8% senior notes due 2046 priced on Monday traded about 4 bps better earlier in the secondary market.

Kroger Co.’s senior notes (Baa1/BBB/BBB) priced in a $1.75 billion three-part sale on Monday traded flat to about 1 bp tighter.

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