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JPMorgan, NextEra, Quebec tap primary market; inflows rise
By Cristal Cody
Tupelo, Miss., Aug. 23 – JPMorgan Chase Bank, NA tapped the high-grade primary market on Thursday with a $1.25 billion offering of two-year floating-rate notes.
In other corporate issuance, NextEra Energy Capital Holdings Inc. priced a $75 million add-on to its floating-rate debentures due Aug. 28, 2021 that were first sold on Tuesday.
The SSA primary market also saw its first deal of the week.
The Province of Quebec priced $500 million of long 30-year notes.
High-grade issuers have sold nearly $10 billion of corporate bonds week to date, in line with syndicate forecasts of about $5 billion to $10 billion of supply.
New issuance is expected to remain light until after the Labor Day holiday, according to syndicate sources.
For the week ended Aug. 22, Lipper US Fund Flows reported inflows of $2.68 billion, up from $1.45 billion of inflows reported in the prior week.
Market attention on Thursday focused on the start of the Federal Reserve Bank of Kansas City’s annual economic policy symposium in Jackson Hole, Wyo., which ends Saturday.
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