High-grade primary stays quiet Tuesday; Beazley Insurance plans notes

By Devika Patel

Knoxville, Tenn., Aug. 27 – Primary activity in the investment-grade bond market remained quiet throughout Tuesday, with only one new deal announced.

Beazley Insurance DAC, a subsidiary of Beazley Group Ltd., the Dublin-based parent company of specialist insurance businesses, said it plans to conduct fixed-income investor meetings in Singapore, Hong Kong and London for an offering of 10-year subordinated tier 2 notes, which will be denominated in either pounds sterling or U.S. dollars.

J.P. Morgan Cazenove, Lloyds Bank Corporate Markets Wertpapierhandelsbank and NatWest Markets are the bookrunners.

The U.S. high-grade primary market has remained largely quiet during the lead-in to the Labor Day holiday on Monday as market participants pull back from the market.

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