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Published on 6/27/2019 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily, Prospect News Preferred Stock Daily and Prospect News Private Placement Daily.

High-grade registered supply quiets; FS KKR, Commerzbank eye deals; inflows decline

By Cristal Cody

Tupelo, Miss., June 27 – Investment-grade primary action remained fairly quiet over Thursday's session in the midst of earnings releases.

No registered issuers offered bonds during the session after also staying out of the primary market on Wednesday.

Lipper US Fund Flows on Thursday reported inflows of $3.24 billion for corporate investment-grade funds in the week ended Wednesday. The space saw inflows of $3.65 billion in the same period a week ago.

Elsewhere, a potential registered senior note offering from FS KKR Capital Corp. was marketed over the session.

FS KKR Capital held fixed income investor calls on Thursday via J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and SunTrust Robinson Humphrey, Inc.

Commerzbank AG also was expected to hold a roadshow this week for a $500 million minimum offering of tier 1 capital subordinated bonds.

Investment-grade corporate issuers have priced about $10 billion of notes week to date.

About $15 billion of issuance was expected by syndicate sources for the week.


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