Brixmor prices notes; Oesterreichische Kontrollbank in deal pipeline; Barclays improves

By Cristal Cody

Tupelo, Miss., Aug. 28 – High-grade supply remained light on Tuesday with one reported deal brought to the primary market.

Brixmor Operating Partnership LP priced $250 million of long three-year senior floating-rate notes.

Crombie Real Estate Investment Trust also tapped the Canadian high-grade market on Tuesday with a C$75 million add-on to its 3.962% senior notes due June 1, 2021.

At least one investment-grade bond deal is in the works to print on Wednesday.

Oesterreichische Kontrollbank AG is marketing a benchmark-sized offering of three-year global notes.

Syndicate sources predict up to about $5 billion of bond issuance for the week in front of the Labor Day holiday.

On Monday, Caterpillar Financial Services Corp. was the sole reported high-grade issuer with a $750 million reopening of medium-term floating-rate notes due March 15, 2021.

The Markit CDX North American Investment Grade 30 index ended mostly unchanged at a spread of 59 bps.

In secondary trading over the session, Barclays plc’s paper tightened about 1 bp to 5 bps, a source said.

Other bank and financial paper was mostly flat to about 1 bp better on the day.

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