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UnitedHealth prices $5.5 billion; Imperial, Bank of America, BB&T, Bank of Montreal price
By Cristal Cody
Tupelo, Miss., July 23 – UnitedHealth Group Inc. led deal volume in the high-grade primary market on Tuesday with a $5.5 billion five-part offering of senior notes.
Market activity was strong with more than $11 billion of bonds brought to the market.
Imperial Brands Finance plc priced $2.75 billion of senior notes in three tranches.
Bank of America Corp. sold $1.5 billion of two-year floating-rate senior notes.
BB&T Corp. came with $1 billion of five-year senior medium-term notes a day after selling $1.7 billion of $1,000-par fixed-rate reset non-cumulative perpetual preferred shares.
Also on Tuesday, Bank of Montreal priced $500 million of fixed-rate resetting non-cumulative perpetual subordinated additional Tier 1 capital notes following fixed income investor calls in the previous session.
Investment-grade volume week to date totals more than $15 billion.
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