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Published on 10/7/2019 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily, Prospect News Preferred Stock Daily and Prospect News Private Placement Daily.

PepsiCo, D.R. Horton, Keysight price $2.25 billion of paper to start to high-grade week

Chicago, Oct. 7 – In high-grade primary action, issuers brought to market $2.25 billion of new paper to begin the Oct. 7 week.

PepsiCo, Inc. priced the largest share of that total with $1 billion of 2.875% 30-year green senior notes (A1/A+) brought via bookrunners Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and Mizuho Securities USA Inc.

D.R. Horton, Inc. sold $500 million of 2.5% five-year senior notes on Monday, according to a press release.

The notes were initially planned to come sized at $400 million.

Keysight Technologies Inc. came to market on Monday with $500 million of 3% 10-year notes (Baa2/BBB/BBB) at a spread of 145 basis points over Treasuries.

Also on Monday, Japan Bank for International Cooperation joined the forward calendar.

The notes, which will be guaranteed by Japan, will be issued in three tranches.

Toronto-Dominion Bank, another bank from outside of the United States, announced that it is planning to sell three-year notes.

Another Canadian bank, Bank of Montreal announced that it is in the market with 2.2% medium-term callable senior unsecured notes, series E, due April 28, 2023.


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