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PepsiCo, American Express price; Las Vegas Sands markets bonds; corporate inflows decline
By Cristal Cody
Tupelo, Miss., July 25 – Two high-grade issuers priced $3.5 billion of bonds over Thursday’s session.
PepsiCo Inc. tapped the primary market with a $2 billion two-tranche offering of senior notes.
American Express Co. sold $1.5 billion of five-year senior notes.
In other market action, Las Vegas Sands Corp. held fixed income investor calls on Thursday for a dollar-denominated three-part offering of senior notes.
Investment-grade issuers have priced more than $23 billion of bonds week to date, beating forecasts of about $15 billion to $20 billion of deal volume.
Bank and financial supply have been steady with issues from U.S. Bancorp, Bank of Nova Scotia and JPMorgan Chase & Co. on Wednesday, Bank of America Corp., BB&T Corp. and Bank of Montreal on Tuesday and Synchrony Financial and Citizens Financial Group, Inc. on Monday.
Lipper US Fund Flows reported that corporate investment-grade fund inflows declined to $2.5 billion for the week ended Wednesday from $3.65 billion in the previous week.
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