Citi, Diageo, RBS, Toyota, Avista, Svensk price; pipeline fills; Kommuninvest on tap

By Cristal Cody

Tupelo, Miss., May 15 – High-grade volume on Tuesday included deals from Citigroup Inc., Diageo Capital plc, Royal Bank of Scotland Group plc, Toyota Motor Credit Corp., Avista Corp. and Swedish Export Credit Corp.

Citigroup priced $2.6 billion of new and reopened notes.

Diageo Capital sold $2 billion of notes in four tranches.

Royal Bank of Scotland Group brought $1.75 billion of fixed-to-floating-rate senior notes to the primary market.

Toyota Motor Credit sold $400 million of four-year floating-rate medium-term notes.

Avista placed $375 million of 30-year first mortgage bonds.

Also, Swedish Export Credit priced $1 billion of three-year global medium-term notes.

In other deal activity, Petrofac Ltd. planned to price $300 million of five-year notes.

Coming up on Wednesday, Kommuninvest I Sverige AB intends to price a benchmark-sized issuance of notes due March 1, 2021 that were initially talked to price in the mid-swaps plus 8 basis points area.

Also on Wednesday, Vodafone Group plc will start a roadshow for a dollar-denominated multiple-tranche offering of notes.

In other market activity on Tuesday, Air Lease Corp. began a round of fixed-income investor calls for an offering of subordinated notes.

Eni SpA also continued its roadshow for a Rule 144A and Regulation S dollar-denominated senior note offering on Tuesday.

About $30 billion to $35 billion of supply is forecast by market sources for the week.

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