Athene Global Funding prices; Basin Electric Power offers notes; Comcast firms; AT&T softens

By Cristal Cody

Tupelo, Miss., April 17 – Athene Global Funding tapped the high-grade bond market on Monday with a two-part $800 million offering of notes in mostly quiet action following the long U.S. holiday weekend and with financial markets closed in Europe for Easter Monday.

The company priced $300 million of three-year floating-rate notes at Libor plus 114 basis points and $500 million of 2.75% three-year fixed-rate notes at a spread of Treasuries plus 140 bps.

In other activity, Basin Electric Power Cooperative marketed $500 million of 30-year first mortgage bonds in a Rule 144A and Regulation S offering.

Also, Australian financial services company Suncorp-Metway Ltd. (A1/A+/A+) was expected to kick off a roadshow in the United States and Asia this week for a dollar-denominated Rule 144A and Regulation S notes offering. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and UBS Securities LLC are arranging the roadshow.

The Markit CDX North American Investment Grade index softened less than half of a basis point to close at a spread of 68 bps.

In the secondary market, Comcast Corp.’s 3.3% senior notes due 2027 tightened about 3 bps during the session.

Apple Inc.’s 3.35% senior notes due 2027 traded about 1 bp better over the day.

AT&T Inc.’s 4.25% notes due 2027 softened about 4 bps on Monday.

Verizon Communications Inc.’s 4.125% notes due 2027 firmed about 1 bp in the secondary market.

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