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Published on 9/15/2020 in the Prospect News Emerging Markets Daily, Prospect News High Yield Daily, Prospect News Preferred Stock Daily and Prospect News Private Placement Daily.

Hyundai, HSBC, Southern Co., UniCredit, CyrusOne, SSA issuers price; NVR taps 3% notes

By Cristal Cody

Tupelo, Miss., Sept. 15 – Investment-grade supply remained strong on Tuesday with more than $19 billion of corporate and sovereign, supranational and agency bonds priced over the day.

Hyundai Capital America (Baa1/BBB+) sold $2.5 billion of fixed-rate notes in three tranches.

HSBC Holdings plc brought $2 billion of fixed-to-floating-rate notes due Sept. 22, 2028 (A2/A-/A+) to the primary market.

Southern Co. priced $1.25 billion of fixed-to-fixed reset rate junior subordinated notes due Jan. 15, 2051 (Baa3/BBB/BBB-), as well as $750 million of $25-par junior subordinated notes due Oct. 15, 2060 Baa3/BBB/BBB-).

UniCredit SpA sold $1 billion of senior notes due June 22, 2026 (Baa2/BBB/BBB-).

AIG Global Funding priced an upsized $500 million offering of five-year senior secured notes (A2/A+).

CyrusOne LP and CyrusOne Finance Corp. sold $400 million of 10-year senior notes (Ba1/BBB-/BBB-).

Also, NVR, Inc. priced a $50 million tap of its 3% senior notes due May 15, 2030 (Baa1/BBB+/BBB+) that were reopened earlier in the month, pushing the total outstanding to $900 million.


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