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Estee Lauder, S&P, Vereit, Albemarle tap primary market; Ontario to reopen green bonds
By Cristal Cody
Tupelo, Miss., Nov. 19 – Estee Lauder Cos. Inc. brought $1.8 billion of senior notes in three tranches to the high-grade primary market on Tuesday.
The five- and 10-year tranches priced on the tight side of talk, while the 30-year notes came better than guidance.
Also, S&P Global Inc. priced a $1.1 billion two-part offering of guaranteed senior notes on the tight side of guidance following fixed income investor calls in the previous session.
Vereit Operating Partnership LP followed up fixed income investor calls on Friday with $600 million of 10-year guaranteed senior notes priced on Tuesday.
Albemarle Corp. brought $500 million of senior notes in two parts to the market during the session.
In addition, BlackRock TCP Capital Corp. priced a $50 million add-on to its 3.9% senior notes due Aug. 23, 2024 at a spread of 250 basis points over Treasuries, bringing the issue’s outstanding amount to $200 million.
In other activity, the Province of Ontario marketed a registered add-on to its Canadian dollar-denominated 2.65% green bonds due Feb. 5, 2025 on Tuesday.
The province originally sold C$1 billion of the bonds on Jan. 25, 2018 and priced a C$950 million reopening of the issue on Jan. 31, 2019.
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