High-grade issuers pack primary; Wells Fargo, Bank of America, NRG, Cargill, Goldman price

By Cristal Cody

Tupelo, Miss., May 20 – Investment-grade issuers flooded the primary market on Monday with more than $9 billion of bond deals in what is expected to be a front-loaded supply week.

Wells Fargo Bank NA led volume over the day with a $2.1 billion two-part offering of senior bank notes.

Bank of America NA priced $1.75 billion of two-year subordinated floating-rate notes.

Goldman Sachs Bank USA came with $1 billion of two-year floating-rate senior notes priced at the Secured Overnight Financing Rate benchmark rate.

Meanwhile, Oncor Electric Delivery Co. LLC sold $1.3 billion of senior secured notes in three tranches, including an add-on.

NRG Energy Inc. priced $1.1 billion of senior secured first-lien notes in two parts.

Cargill Inc. brought $1 billion of senior notes in two tranches to the primary market on Monday.

Also, Charles Schwab Corp. sold $600 million of 10-year senior notes, while Ohio Power Co. placed $450 million of 30-year senior notes.

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