New York Life, NextEra Energy price; Quebec, Swedish Export Credit, Vinci, AXA on deck

By Cristal Cody

Tupelo, Miss., April 1 – Two issuers tapped the high-grade primary market on Monday in the first session of April.

New York Life Global Funding priced an upsized $1 billion of 50-year surplus notes.

NextEra Energy Capital Holdings Inc. sold $500 million of 60-year fixed-to-floating-rate guaranteed debentures.

A couple of issuers are expected to price notes on Tuesday.

The Province of Quebec is marketing $1 billion of five-year global notes.

Swedish Export Credit Corp. is offering $1 billion of two-year global notes.

Overall deal volume is mostly expected to be lighter this week, according to market sources.

Investment-grade supply is forecast in the $20 billion area for the first week of the second quarter, with some market sources predicting as little as $10 billion of issuance.

April is projected to post about $80 billion to $100 billion of total volume.

In other action on Monday, two companies held fixed income investor calls for upcoming deals.

Vinci SA (A3/A-), a Paris-based construction company, plans to price a debut Rule 144A and Regulation S offering of dollar-denominated notes, a source said.

HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC are the bookrunners.

AXA Equitable Holdings, Inc. (Baa2/BBB+/) held investor calls during the session for a Rule 144A dollar-denominated offering of 10- and 30-year notes, according to a market source.

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