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High-grade issuers sell nearly $9 billion; Mondelez, TransCanada, Hershey, S&P print
By Cristal Cody
Tupelo, Miss., May 3 – Investment-grade corporate issuers priced nearly $9 billion of bonds on Thursday following thin supply over the previous two sessions.
Mondelez International, Inc. sold $2.5 billion of notes in four tranches.
TransCanada Pipelines Ltd. priced $2.5 billion of senior notes in three parts.
Hershey Co. priced $1.2 billion of senior notes in three tranches on the tight side of guidance.
Also on Thursday, corporate issuers including S&P Global Inc., GATX Corp., Florida Power & Light Co., Republic Services, Inc. and Oshkosh Corp. tapped the primary market.
The European Bank for Reconstruction and Development also priced an upsized $550 million of four-year floating-rate notes.
In other activity during the session, Amcor Ltd. began the first of an expected two-day round of fixed income investor calls, a source said. The company plans to price 10-year senior notes in a Rule 144A and Regulation S transaction.
The Markit CDX North American Investment Grade 30 index eased more than 1 basis point to close at a spread of 62.5 bps.
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