Development Bank of Japan, OeKB price; corporates quiet; Swedish Export plans deal

By Cristal Cody

Tupelo, Miss., Aug. 29 – High-grade corporate issuers stayed out of the primary market on Wednesday, while two SSA issuers priced bonds.

Development Bank of Japan Inc. sold $1.75 billion of senior notes in two tranches.

Oesterreichische Kontrollbank AG priced $1.5 billion of three-year notes.

The deals bring week to date investment-grade bond volume to $4.25 billion.

Corporate supply has been thin over the previous two sessions with $1 billion of bonds priced.

Brixmor Operating Partnership LP sold $250 million of long three-year senior floating-rate notes on Tuesday, while Caterpillar Financial Services Corp. priced a $750 million reopening of medium-term floating-rate notes due March 15, 2021 on Monday.

Light supply was expected over the week with many desks thinly staffed ahead of the Labor Day holiday. Market sources forecasted up to about $5 billion of issuance for the week.

Coming up on Thursday, Swedish Export Credit Corp. intends to price a benchmark offering of U.S. dollar-denominated two-year notes.

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