Parker-Hannifin, LyondellBasell, Manulife price; Bank of England markets; Goldman softens

By Cristal Cody

Tupelo, Miss., Feb. 21 – Parker-Hannifin Corp. tapped the investment-grade primary market on Tuesday with a $1.3 billion offering of senior notes following the company’s roadshow the previous week.

Also on Tuesday, LyondellBasell Industries NV subsidiary LYB International Finance II BV sold $1 billion of 10-year guaranteed notes.

Manulife Financial Corp. placed $750 million of 15-year subordinated notes.

Coming up in new supply, the Bank of England is in the deal pipeline with an offering of three-year dollar-denominated notes.

The Markit CDX North American Investment Grade index firmed 1 basis point to a spread of 62 bps on Tuesday.

In the secondary market, Goldman Sachs Group Inc.’s 3.85% notes due Jan. 26, 2027 remained weak on the day.

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