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Published on 4/30/2020 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 issuers flood primary; Boeing, IBM, Anthem, Lam price; inflows edge higher

By Cristal Cody

Tupelo, Miss., April 30 – Boeing Co. led deal volume on Thursday and year to date with a $25 billion seven-tranche offering of senior notes.

Volume was heavy with numerous issuers in the high-grade primary market pricing about $40 billion of bonds over the day, a source said.

International Business Machines Corp. brought $4 billion of notes in four tranches to the market.

Anthem, Inc. sold $2.5 billion of notes in three tranches.

Lam Research Corp. priced $2 billion of notes in three tranches.

Other issuers included Mondelez International, Inc., Fifth Third Bancorp, Barclays plc, Norfolk Southern Corp., NVR Inc. and Reliance Standard Life Global Funding II.

Inflows continued for a third week in investment-grade corporate funds, according to Refinitiv Lipper US Fund Flows on Thursday.

Inflows edged up to $2.25 billion for the past week ended Wednesday from $2.15 billion in the prior week.


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