Waste Connections sells notes; Rentenbank prices $1.25 billion notes; new issues improve

By Cristal Cody

Tupelo, Miss., Nov. 6 – High-grade deal action on Tuesday included new bonds priced from Waste Connections, Inc. and Landwirtschaftliche Rentenbank.

Waste Connections sold $500 million of 10-year senior notes.

Rentenbank came with a $1.25 billion offering of five-year notes.

Volume also was light in the previous session with $1.5 billion of issuance from utilities Duke Energy Carolinas LLC and Ameren Illinois Co.

About $15 billion to as much as $30 billion of supply is forecast by market sources for the week, though focus is expected to be scattered with the U.S. mid-term elections on Tuesday, conclusion of the Federal Reserve’s monetary policy meeting on Thursday and the upcoming Veterans Day holiday weekend.

In the secondary market, Duke Energy Carolinas’ $1 billion of green first and refunding mortgage bonds priced in two tranches on Monday tightened about 4 basis point across both tranches, according to a market source.

The company (Aa2/A/) sold a $350 million tranche of 3.35% bonds due May 15, 2022 at a spread of 38 bps over Treasuries and priced $650 million of 3.95% bonds due Nov. 15, 2028 at a Treasuries plus 80 bps spread.

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