Morning Commentary: Tyson Foods, Activision, Canadian Resources, Japan Bank prep bond deals

By Cristal Cody

Tupelo, Miss., May 23 – Primary action in the high-grade bond market took shape early Tuesday with supply expected to remain strong over the session.

Tyson Foods Inc. is marketing four tranches of senior notes.

Activision Blizzard, Inc. is offering three tranches of senior notes.

Canadian Natural Resources Ltd. is eying a three-part dollar-denominated notes offering.

Also, Japan Bank for International Cooperation plans to sell four tranches of guaranteed bonds.

Deal volume was heavy on Monday, led by Becton, Dickinson & Co.’s $9,675,000,000 seven-part offering of senior notes.

About $30 billion to $35 billion of supply is expected over the short week. The bond markets will close early on Friday for the Memorial Day holiday.

On Monday, $16.45 billion of investment-grade bonds were traded, according to Trace.

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