Walmart, Citigroup, JPMorgan, PNC price nearly $10 billion of notes; KfW raises $3 billion

By Cristal Cody

Tupelo, Miss., April 16 – High-grade issuers priced $12.75 billion of bonds, including $9.75 billion of corporate issuance, over Tuesday’s session.

Walmart Inc. led deal volume with a $4 billion three-part offering of fixed-rate senior notes that priced on the tight side of guidance.

Citigroup Inc. and JPMorgan Chase & Co. tapped the primary market following earnings releases.

Citigroup sold $2.75 billion of six-year notes following the company’s first-quarter earnings report on Monday.

JPMorgan priced a $1.5 billion reopening of its 3.964% senior fixed-to-floating rate notes due Jan. 15, 2048. The company reported earnings on Friday.

Also on Tuesday, PNC Financial Services Group, Inc. sold $1.5 billion of 10-year senior notes.

In supply in the sovereign, supranational and agency markets, KfW priced $3 billion of two-year global notes.

Week to date, corporate issuers have brought $12.45 billion of notes to the primary market.

Volume was light on Monday’s U.S. tax day with one reported deal from BMW US Capital, LLC, which priced a $2.7 billion four-part offering of senior notes.

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