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Banco Santander, HCP, Spirit Realty, Athene Global price; inflows dip
By Cristal Cody
Tupelo, Miss., June 20 – Banco Santander, SA priced $2.5 billion of senior preferred debt securities in two tranches on the tight side of guidance Thursday.
HCP, Inc. tapped the primary market during the session with $1.3 billion of fixed-rate notes in two parts.
Spirit Realty Capital, Inc.’s operating partnership, Spirit Realty, LP, sold $400 million of 10-year registered senior notes.
In addition, Athene Global Funding priced $300 million of five-year senior secured notes.
In other issuance, Cadence Bancorp. sold $85 million of 10-year fixed-to-floating rate subordinated notes.
High-grade issuers have priced about $10 billion of bonds week to date, compared to about $15 billion to $20 billion of supply expected by market sources for the week.
Issuers were quiet on Wednesday with the Federal Reserve set to release its monetary policy decision. The Fed kept rates unchanged.
On Thursday, Lipper US Fund Flows reported inflows of $3.65 billion for the week ended Wednesday, down slightly from $4.02 billion of inflows in the previous week.
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