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Crown Castle, New York Life, Jackson National, Fifth Third Bank, GATX, Kommunalbanken sell
By Cristal Cody
Tupelo, Miss., Jan. 29 – Investment-grade corporate bond supply totaled more than $15 billion week to date following additional issuance on Tuesday.
Only about $15 billion to $20 billion of supply was forecast for the week with many companies still in earnings blackout reporting periods, sources report.
Crown Castle International Corp. priced $1 billion of senior notes in two parts on Tuesday.
New York Life Global Funding sold $800 million of senior secured notes in fixed- and floating-rate tranches.
Jackson National Life Global Funding priced $600 million of three-year senior secured notes.
GATX Corp. sold $500 million of 10-year senior notes following fixed-income investor calls on Monday.
Fifth Third Bank brought $300 million of three-year floating-rate notes to the primary market.
In addition, Kommunalbanken AS priced $1.25 billion of five-year notes tighter than talk.
Elsewhere on Tuesday, the Federal Reserve kicked off a two-day monetary policy meeting. Under a new policy, press conferences will be held after each central bank meeting with one set for Wednesday. No rate changes are expected from this meeting, market sources said.
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