Flowers Foods, Fannie Mae price; Air Liquide tightens; Shire flat to softer; Goldman firms

By Cristal Cody

Eureka Springs, Ark., Sept. 23 – Two high-grade issuers tapped the bond markets on Friday.

Flowers Foods, Inc. priced an upsized $400 million of 3.5% 10-year senior notes (Baa2/BBB/BBB) at 99.473 to yield 3.563%, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes priced with a spread of 195 basis points over Treasuries, at the tightest side of guidance.

The deal was upsized from $300 million.

Fannie Mae sold $3.5 billion of 1.875% 10-year Benchmark Notes at 99.367 to yield 1.945% on Friday, according to a press release.

The notes priced with a spread of 33 bps over Treasuries.

About $25 billion of high-grade deal volume is forecast for the week ahead, sources report.

In the secondary market, Air Liquide SA’s $4.5 billion of senior notes priced in five parts in the previous session traded on Friday about 4 basis points to about 13 bps tighter on the long end.

Shire Acquisitions Investments Ireland DAC’s senior notes headed out flat to about 2 bps softer.

Goldman Sachs Group Inc.’s 1.125% notes due 2021 priced on Thursday traded about 2 bps tighter.

The Markit CDX North American Investment Grade index closed the day about 1 bp weaker at a spread of 77 bps.

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