Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for New Brunswick > News item |
American Tower sells $1.4 billion bonds; Duke Realty, Cowen, New Brunswick tap primary
By Cristal Cody
Tupelo, Miss., Dec. 5 – American Tower Corp. brought $1.4 billion of senior notes in two tranches to the investment-grade primary market on Tuesday.
American Tower sold $700 million of 3% notes due June 15, 2023 at 99.742 to yield 3.051%, or a spread of Treasuries plus 90 bps, and $700 million of 3.6% notes due Jan. 15, 2028 at 99.476 to yield 3.662%, or a Treasuries plus 130 bps spread.
Duke Realty LP placed $300 million of 3.375% 10-year senior notes (Baa1/BBB+/) at 99.848 to yield 3.393%, or a spread of Treasuries plus 103 bps, on Tuesday.
Cowen Inc. sold $120 million of 7.35% $25-par senior notes due Dec. 15, 2027.
Also, the province of New Brunswick priced a $500 million offering of five-year bonds.
Deal action was strong on Monday with new bonds priced from issuers that included Westpac Banking Corp., Charles Schwab Corp., Public Service Electric & Gas Co. and J.M. Smucker Co.
Market sources expect steady deal action through Dec. 15.
About $30 billion of deal volume was forecast by market participants for this week.
The Markit CDX North American Investment Grade 29 index was modestly tighter on the day at a spread of 52 basis points.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.