Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Valmont Industries Inc. > News item |
Valmont prices add-ons to two tranches; lighter supply forecast; bonds mixed, new issues firm
By Cristal Cody
Tupelo, Miss., June 8 – Valmont Industries Inc. tapped the high-grade primary market on Friday with add-ons to two tranches of senior notes in a $255 million deal.
The notes firmed about 2 basis points in after-market trading.
Also, Freddie Mac priced $2.25 billion of five-year Reference Notes.
Investment-grade issuers sold nearly $40 billion of high-grade bonds during the week.
The week ahead is expected to be mixed with an array of economic data, the U.S. summit with North Korea and the Federal Reserve’s policy meeting.
Market sources forecast about $15 billion to $20 billion of supply in the upcoming week.
Several bond offerings tied to financing for mergers and acquisitions are expected in June, according to market sources.
There is growing talk that Bayer AG (Baa1/BBB/A-) may tap the dollar-denominated bond market to fund its $63 billion acquisition of Monsanto Co. that closed on Thursday, a source said. The company could price as much as $20 billion of notes this month.
The Markit CDX North American Investment Grade 30 index firmed about 1 bp to close the day at a spread of 66 bps.
In the secondary market, bonds were mixed, sources said.
Telus Corp.’s $750 million of 4.60% notes due Nov. 16, 2048 (Baa1/BBB+/BBB+) that priced on Thursday headed out softer on the bid side at 162 bps bid, 159 bps offered.
© 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.