Keurig deal prices; Bank of America, Goldman, American Express, Fidelity among issuers

By Cristal Cody

Tupelo, Miss., May 14 – Heavy supply came on Monday with high-grade issuance led by an $8 billion six-tranche deal to fund the merger between Keurig Green Mountain Inc. and Dr Pepper Snapple Group, Inc.

Also on Monday, Bank of America Corp. sold $2.25 billion of fixed-to-floating rate senior notes, while Goldman Sachs Group Inc. priced $1.5 billion of floating-rate notes.

American Express Co. priced $2 billion of senior notes in two tranches.

Fidelity National Information Services, Inc. sold $1 billion of senior notes in two parts.

In other issuance, Great-West Lifeco Inc. priced $800 million of senior notes, and Canadian Pacific Railway Co. sold $500 million of 10-year notes on Monday.

Also, Ameren Illinois Co. priced $430 million of 10-year first mortgage bonds, and San Diego Gas & Electric Co. sold $400 million of 30-year first mortgage bonds.

About $30 billion to $35 billion of investment-grade supply is expected by market sources for the week.

In other action, ASB Bank Ltd. (A1/AA-/AA-) kicked off a roadshow on Monday for a Rule 144A and Regulation S dollar-denominated offering of five-year notes, a source said.

The Auckland, New Zealand-based subsidiary of the Commonwealth Bank of Australia will hold the roadshow Monday through Thursday in Asia and from Thursday through May 24 in the U.S. market.

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