Ares, BGC, Blackstone/GSO, Protective Life, JBIC price; PVH, Realty, Simon improve

By Cristal Cody

Tupelo, Miss., July 8 – A few issuers priced corporate and sovereign, supranational and agency bonds in the high-grade primary market on Wednesday.

Ares Capital Corp. sold $750 million of senior notes due Jan. 15, 2026 (Baa3/BBB-/BBB) more than 17 basis points tighter than talk.

Protective Life Global Funding came by with $400 million of five-year senior secured notes (A1/AA-/A+) in an offering upsized from $300 million.

Blackstone/GSO Secured Lending Fund priced a $400 million of three-year senior notes (Baa3//BBB-) on Wednesday.

BGC Partners, Inc. (/BBB-/BBB-) sold $300 million of long five-year senior notes 25 bps better than initial talk.

In SSA pricing action during the session, Japan Bank for International Cooperation sold $2.5 billion of five-year guaranteed bonds (A1/A+/) tighter than guidance.

In the secondary, PVH Corp. 4.625% senior notes due July 10, 2025 (Baa3/BBB-/) that priced on Monday were last seen tighter at 412 bps bid.

Realty Income Corp.’s 3.25% senior notes due Jan. 15, 2031 (A3/A-/BBB+) reopened on Monday have firmed about 8 bps in secondary trading.

Simon Property Group LP’s $2 billion of notes (A2/A/) were also better in secondary trading.

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