Morning Commentary: Ford Motor Credit, Municipality Finance, KLA-Tencor notes on tap

By Cristal Cody

Tupelo, Miss., March 13 – Corporate and sovereign, supranational and agency issuers are expired to tap the high-grade primary market on Wednesday.

Ford Motor Credit Co. LLC plans to price two tranches of notes, including floating-rate notes and fixed-rate notes.

Municipality Finance plc is on deck with a $1 billion offering of notes due Nov. 15, 2023 on Wednesday.

The notes were initially talked to price in the mid-swaps plus 16 basis points area.

Meanwhile, KLA-Tencor Corp. plans to offer dollar-denominated senior notes in two tranches to refinance its debt.

More than $15 billion of investment-grade bonds have priced week to date.

Market sources predict about $25 billion of deal volume this week following about $40 billion of supply last week.

Meanwhile, secondary trading volume was strong on Tuesday with $23.59 billion of bonds traded, compared to $19.91 billion on Monday, according to Trace data.

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