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Waste Management, Caterpillar, SunTrust Bank, Fidelity, Avangrid, Nstar Electric price notes
By Cristal Cody
Tupelo, Miss., May 14 – The high-grade primary market roared to life on Tuesday with more than $10 billion of corporate supply after issuers stood down on Monday as global trade concerns took hold.
Waste Management, Inc. priced a $4 billion billion five-tranche offering of fixed-rate senior notes to help finance an acquisition of Advanced Disposal Services, Inc.
In other issuance, Caterpillar Financial Services Corp. came with $2 billion of medium-term notes in three tranches.
SunTrust Bank priced $2 billion of senior notes in two parts.
Fidelity National Information Services, Inc. priced $1 billion of 10-year senior notes, a €5 billion six-part offering of euro-denominated senior notes and £1.25 billion of sterling-denominated notes in two tranches on Tuesday as part of the funding for its acquisition of Worldpay Inc.
In new green issuance on Tuesday, Avangrid, Inc. sold $750 million of 10-year notes.
Nstar Electric Co., doing business as Eversource Energy, also priced $400 million of 10-year green debentures during the session.
About $25 billion to $35 billion of investment-grade issuance is expected this week by market sources.
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