BP, Citigroup, Deutsche, Lazard Group join primary; AT&T mixed; Verizon stable; Apple soft

By Aleesia Forni and Cristal Cody

Virginia Beach, Feb. 10 – BP Capital Markets plc, Deutsche Bank AG, London Branch and Citigroup Inc. were among the issuers pricing more than $7 billion during a solid session for investment-grade bonds on Tuesday.

BP Capital Markets attracted an orderbook that was more than two times oversubscribed for its $2.75 billion new issue.

Also on Tuesday, Deutsche Bank priced $2.5 billion of three-year notes in fixed- and floating-rate tranches.

In another financial deal, Citigroup sold a $2 billion issue of five-year notes. The deal’s orderbook reached $4.7 billion prior to its launch.

Meanwhile, Ally Financial Inc. came to market with a $1.25 billion junk-rated issue sold off the investment-grade desk.

In other primary happenings, Lazard Group LLC priced $400 million of 10-year notes, Affiliated Managers Group Inc. sold an upsized $350 million 10-year offering, and Third Point Re (USA) Holdings Inc. issued $115 million of notes due 2025.

ERAC USA Finance LLC was also in the market on Tuesday with a $500 million offering of notes, though details of the sale were unavailable at press time.

In the secondary market, AT&T Inc.’s bonds (Baa1/BBB+/A) were mixed over the day.

Verizon Communications Inc.’s 4.15% notes due 2024 headed out unchanged.

Apple Inc.’s 3.45% notes due 2024 traded 5 bps softer.

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