NVR prices; SSA space active; Nordic Investment Bank, Kommunalbanken print

By Cristal Cody

Tupelo, Miss., Sept. 3 – Investment-grade bond supply remained light on Thursday.

NVR, Inc. priced a $250 million add-on to its 3% senior notes due May 15, 2030 (Baa1/BBB+/BBB+) that were first sold in April in a $600 million offering.

The notes priced at a spread of Treasuries plus 137 basis points versus the April 30 print of Treasuries plus 240 bps.

NVR’s 3% notes improved to 134 bps bid in secondary trading, a source said.

In the sovereign, supranational and agency space, Nordic Investment Bank sold $1.5 billion of five-year global notes (Aaa/AAA/) on Thursday.

Kommunalbanken Norway (Aaa/AAA/) brought $1.5 billion of five-year notes to the primary market.

New issuance is expected soon from Johnson Controls International plc, which concluded two days of fixed income investor calls on Wednesday for dollar-denominated 10-year green senior notes (Baa2/BBB+/BBB) and a potential euro-denominated note.

Also, Suzano Austria GMBH is in the deal pipeline with a registered offering of dollar-denominated global notes due in 2031 (/BBB-/BBB-).

Meanwhile, Independent Bank Group, Inc. is holding fixed income investor calls this week for a possible offering of notes (Kroll: BBB+), according to a market source.

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