Otis, BP, Tennessee Gas, Halliburton, KLA, Omnicom, UDR tap primary; SSA supply ahead

By Cristal Cody

Tupelo, Miss., Feb. 19 – High-grade supply remained strong over Wednesday’s session with more than $10 billion of bonds priced.

Otis Worldwide Corp. sold $5.3 billion of senior notes in six tranches as part of its spinoff from United Technologies Corp.

The deal follows a $9.25 billion six-part deal from Carrier Global Corp., which also is being spun off from United Technologies, on Thursday.

Also in the primary market on Wednesday, BP Capital Markets America Inc. sold $1.25 billion of 30-year notes.

Tennessee Gas Pipeline Co., LLC priced $1 billion of 10-year senior notes.

Halliburton Co. brought $1 billion of 10-year senior notes to the primary market.

KLA Corp. sold $750 million of 30-year senior notes.

Omnicom Group Inc. priced an upsized $600 million of 10-year senior notes.

F.N.B. Corp. came with $300 million of three-year senior notes.

In addition, UDR, Inc. priced a $200 million add-on to its 3.2% guaranteed medium-term notes due Jan. 15, 2030.

The deals bring week-to-date investment-grade issuance to more than $29 billion from just two sessions following Monday’s market holiday.

Looking ahead to Thursday, the Council of Europe Development Bank intends to price five-year senior global notes.

Also, the Federal Home Loan Bank System plans to sell a new three-year Global bond.

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