UBS, BB&T, APT Pipelines, Wyndham, Arizona Public Service, Hanmi sell bonds; Verizon softens

By Cristal Cody

Tupelo, Miss., March 16 – High-grade companies priced more than $9 billion of bonds on Thursday, a rebound from the light issuance in the previous session.

UBS Group Funding (Switzerland) AG tapped the primary market with a $5 billion three-part offering of notes.

BB&T Corp. brought $1.35 billion of five-year five- and floating-rate notes to the primary market.

APT Pipelines Ltd. sold $850 million of long 10-year notes.

Wyndham Worldwide Corp. came to the market initially with a 10-year notes offering and added a seven-year tranche to price a total of $700 million of notes during the session.

Also on Thursday, Scentre Management Ltd. placed $500 million of 10-year notes.

The Ford Foundation priced a downsized $273 million of 30-year 3(a)4 exempt taxable bullet bonds during the session.

Arizona Public Service Co. reopened its 4.35% notes due Nov. 15, 2045 on Thursday.

In addition on Thursday, Hanmi Financial Corp. priced $100 million of 10-year fixed-to-floating rate subordinated notes.

The Markit CDX North American Investment Grade index ended mostly unchanged at a spread of 62 basis points.

In the secondary market, Verizon Communications Inc.’s 4.125% notes due March 16, 2027 remained soft on the day.

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