Abbey National, TD Bank, Brooklyn Union tap market; Morgan Stanley, Goldman, MUFG firm

By Aleesia Forni and Cristal Cody

New York, March 7 – Issuers took advantage of the investment-grade bond market’s momentum on Monday, bringing $7.7 billion of paper to market to open the week.

This follows the more than $52 billion of supply priced during the previous week.

Financial names including Abbey National Treasury Services plc, Toronto-Dominion Bank and Danske Bank AS entered the day’s primary, while Perrigo Finance Unlimited Co. sold its two tranches of notes tight of final guidance, a rarity in the high-grade sector.

And energy companies Brooklyn Union Gas Co. and Eversource Energy were met with solid demand for their respective new issues, both pricing at the tight end of price talk.

Investment-grade bank and financial paper traded mostly better on Monday.

Morgan Stanley’s 3.875% senior notes due 2026 firmed 6 basis points over the day.

Goldman Sachs Group Inc.’s 3.75% senior notes due 2026 headed out 7 bps tighter.

Mitsubishi UFJ Financial Group, Inc.’s 3.85% senior notes due 2026 tightened 5 bps in the secondary market.

Citigroup Inc.’s 3.7% subordinated notes due 2026 were 3 bps better in secondary trading.

Deutsche Bank AG’s 4.1% notes due 2026 eased 2 bps.

The Markit CDX North American Investment Grade index firmed about 1 bp to close on Monday at a spread of 94 bps.

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