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Pre-holiday supply thin; Air Lease sells registered notes; Dominion Gas firms; Intel flat
By Cristal Cody
Tupelo, Miss., Nov. 26 – The investment-grade bond market is beginning to slow ahead of the Thanksgiving Day holiday with light volume seen over Tuesday’s session.
Air Lease Corp. priced a C$400 million registered offering of five-year medium-term notes.
The company was last in the dollar-denominated primary market on Sept. 9 when it sold $1.1 billion of medium-term notes in two tranches.
In other new issuance seen on Tuesday, emerging markets issuer PTTEP Treasury Center Co. Ltd. priced $650 million of high-grade-rated 40-year medium-term notes.
Credit spreads have improved about 2.5 basis points over the past two sessions.
On Tuesday, the Markit CDX North American Investment Grade 33 index closed about 1 bp tighter at a spread of 49 bps.
In the secondary market, Dominion Energy Gas Holdings, LLC’s new 3% senior notes due Nov. 15, 2029 tightened 3 bps on Tuesday.
Intel Corp.’s 2.45% senior notes due Nov. 15, 2029 priced in the previous week were flat.
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