UnitedHealth, Western Union price; Ford Foundation offers bonds; Burlington Northern softens

By Cristal Cody

Tupelo, Miss., March 8 – Investment-grade issuers priced about $4 billion of bonds over Wednesday’s session.

UnitedHealth Group Inc., Realty Income Corp., DTE Energy Co. and Western Union Co. tapped the primary market.

In addition, Municipality Finance plc sold $1 billion of five-year notes on Wednesday.

The Trustees of Princeton University also placed $150 million of 31-year bonds.

Looking ahead, the Ford Foundation is expected to price a $280 million 30-year bullet bond later in the month.

The Markit CDX North American Investment Grade index eased about 1 basis point over the day to a spread of 63 bps.

In the secondary market, Burlington Northern Santa Fe, LLC’s $1.25 billion of senior debentures (A3/A/) priced in two parts on Monday remained soft on Wednesday.

Burlington Northern Santa Fe’s 3.25% debentures due June 15, 2027 remained soft on the day at 99.54 from where the notes went out in the previous session at 99.71, according to a market source.

Burlington Northern Santa Fe’s 4.125% debentures due June 15, 2047 recovered some over the day to head out at 97.48 from where the bonds traded at 96.97 over the morning. The notes last traded on Tuesday at 98.49.

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