BNG, Sweden, Oneok issue bonds; Goldman Sachs soft; Exxon Mobil mixed

By Aleesia Forni and Cristal Cody

Virginia Beach, March 17 – Bank Nederlandse Gemeenten NV, Sweden, Oneok Partners LP, Liberty Property LP and Washington Prime Group Inc. were among the issuers pricing bonds on Tuesday during another weaker session for investment-grade bonds.

Many new deals continue to face pushback from investors, as the market digests the more than $120 billion of new issues priced so far this month.

BNG and Sweden were each in the market with new bonds priced at the tight end of guidance.

Also on Tuesday, Oneok Partners and Liberty Property each sold upsized new issues.

Washington Prime Group sold a $250 million issue of five-year notes wide of price talk after scrapping plans for an additional 10-year tranche.

Masco Corp. came to market with a $500 million crossover issue of 10-year senior notes priced at the tight end of guidance.

Investment-grade corporate bonds traded flat to modestly softer on the day as traders await the outcome of the Federal Reserve’s policy meeting on Wednesday, sources said.

The Markit CDX North American Investment Grade series 23 index was unchanged at a spread of 65 basis points.

Goldman Sachs Group Inc.’s 3.5% senior notes due 2025 widened 4 bps over the session.

Exxon Mobil Corp.’s senior notes (Aaa/AAA/) traded flat to weaker on Tuesday.

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