High-grade primary roars to life; Cigna, Toyota, John Deere, Caterpillar, Home Depot price

By Cristal Cody

Tupelo, Miss., Sept. 5 – High-grade issuers flooded the primary market on Tuesday after staying mostly to the sidelines in the previous week.

Issuers including Cigna Corp., Toyota Motor Credit Corp., John Deere Capital Corp., Caterpillar Financial Services Corp., Zoetis Inc., Home Depot Inc., Duke Energy Progress, LLC, Arrow Electronics, Inc. and Southern California Edison Co. priced bonds during the session.

Apple Inc., IBM Credit LLC and Mizuho Financial Group, Inc. also were marketing new notes on Tuesday.

Coming up on Wednesday, Mitsubishi UFJ Lease & Finance Co. Ltd. is expected to kick off a U.S. roadshow for a $500 million dollar-denominated offering of senior notes.

The Markit CDX North American Investment Grade index eased more than 2 basis points on Tuesday to a spread of 59 bps.

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