Morning Commentary: Intel, Toyota, Bank of America, AvalonBay on tap; strong volume eyed

By Cristal Cody

Tupelo, Miss., Feb. 10 – Investment-grade issuers are marketing new and reopened bond issues in the primary market early Monday.

Intel Corp. is offering a tranche of new fixed-rate notes due Feb. 15, 2060, as well as add-ons to its 2.45% notes due Nov. 15, 2029 and its 3.25% notes due Nov. 15, 2049.

Toyota Motor Credit Corp. plans to price three tranches of dollar-denominated series B medium-term notes on Monday, including floating-rate notes due Aug. 13, 2021, fixed-rate notes due Feb. 13, 2025 and green notes due Feb. 13, 2030.

Bank of America Corp. intends to price two tranches of series N medium-term fixed-to-floating rate senior notes during the session.

The deal includes new paper due Feb. 13, 2026 and Feb. 13, 2031.

In addition, AvalonBay Communities, Inc. is offering $650 million of medium-term notes due March 1, 2030 on Monday.

The high-grade primary market is expected to stay busy this week with about $25 billion to as much as $35 billion of deal volume forecasted, syndicate sources said.

Last week, more than $21 billion of corporate bonds and more than $11 billion of sovereign, supranational and agency notes priced.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.