Western Midstream, Nomura, Avolon, Caterpillar, Westpac in primary; high-grade inflows soar

By Cristal Cody

Tupelo, Miss., Jan. 9 – Investment-grade supply remained strong on Thursday with at least 10 corporate and sovereign, supranational and agency issuers offering bonds over the session.

A number of registered and Rule 144A and Regulation S transactions were expected.

Western Midstream Operating, LP, Nomura Holdings Inc., Avolon Holdings Ltd. subsidiary Avolon Holdings Funding Ltd., Caterpillar Financial Services Corp., Westpac Banking Corp., National Bank of Canada, Athene Global Funding, MassMutual Global Funding II and the Inter-American Development Bank offered investment-grade issues.

In other action on Thursday, Ohio National Financial Services, Inc. continued a two-day session of fixed income investor calls for a dollar-denominated Rule 144A and Regulation S senior offering. BofA Securities, Inc., Citigroup Global Markets Inc. and BMO Capital Markets Corp. are the bookrunners.

The Markit CDX North American Investment Grade 33 index tightened on Thursday by more than 1 basis point to a spread of 43.9 bps.

Meanwhile, corporate investment-grade fund inflows soared to $8.19 billion for the past week ended Wednesday, Lipper US Fund Flows reported.

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